AUD oil above $150bbl >, page-12

I sent a message to the CEO regarding capital allocation, I received quick and professional reply, which was very impressed with.

The main points were due to capital requirements upcoming there is no plan for a div (even as they generate significant revenue at the moment), he said its exciting with all the projects over the next 6 months.

here is part of his reply.

"But we are also still investing heavily in exploration and development projects. In the Amadeus Basin, Palm Valley Deep and Dingo Deep are exploration wells targeting new gas accumulations. Each of these wells also has an option to be completed in a gas producing reservoir if the exploration target is not successful. As part of our deal with Central Petroleum, Cue is obliged to pay Central’s costs for these 2 wells, as well as our own costs. In the Mahato PSC, in Indonesia we are drilling 5 new oil production wells in over the next few months. Participation in 7 new wells is a high level of activity for Cue and we think that expanding the company by pursuing the opportunities that we have is a good use of the revenue at the moment.

Later on this year, we also expect to achieve a Final Investment Decision (FID) on the Paus Biru gas development in the Sampang PSC. This is to produce gas that was found through an exploration well a few years ago. Our 15% share of this project comes with a cost to develop but the payoff is increased revenue when the gas starts flowing."