Here is the text to a CUE ann. this morning which is relevant to MOG due to it's interest in WA-409:-
Carnarvon Basin Zeebries 3D Seismic Survey Underway
Cue is pleased to announce that the Zeebries 3D Seismic Survey is underway in permits
WA-359-P and WA-409-P in the Carnarvon Basin.
As previously advised Cue has entered into farmout agreements with Apache Northwest
Pty Limited (Apache) in respect of Cues 50% participating interest in the WA-359-P and
WA-409-P permits. Under the terms of the agreements Apache has agreed to fund the
acquisition, processing and interpretation of a 3D seismic survey across the permits. (see
attached location map) This commitment will earn Apache a 40% interest and
operatorship in each permit.
The Zeebries survey commenced in late November, 2010 and is expected to take
approximately three months to acquire. It is expected to define several new drillable
leads and prospects.
Participants in WA-359-P are:
Cue Energy Resources Limited (Operator) 50%
Exoil Limited 50%
Participants in WA-409-P are:
Cue Energy Resources Limited (Operator) 50%
Rankin Trend Pty Ltd 50%
It will be several months before any result of the survey is known. If Apache elects to drill in WA-409 MOG's SP should get a boost.
ANZ
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