cue awarded new australian exploration permits

Cue Energy Resources Limited
A.B.N. 45 066 383 971
RELEASE
Cue Awarded New Australian Exploration Permits
Northern Rankin Platform/Dampier Sub Basin
Cue is pleased to announce that its wholly owned subsidiary, Cue Exploration Pty Ltd, has
been awarded Exploration Permits WA-359-P, WA-360-P and WA-361-P in the
Carnarvon Basin and holds a 50% interest in these permits which cover an area of
approximately 3,600 kms² in water depths of less than 500 metres.
Permits WA-359-P, WA-360-P and WA-361-P are nearby to giant oil and gas discoveries,
being immediately adjacent to the producing Goodwyn/Perseus/North Rankin
gas/condensate fields and to the newly developed Exeter/Mutineer oilfields complex.
The new tenements will be explored for both their gas/condensate and oil potential.
A map is attached.
Interests in each of the new permits are:
WA-359-P
Cue Exploration Pty Ltd (Operator) 50%
Exoil Limited 50%
WA-360-P and WA-361-P
Cue Exploration Pty Ltd (Operator) 50%
Gascorp Australia Limited 50%
Any queries regarding the announcement should be directed to the company on
(03) 9629 7577 or email [email protected].
Andrew Knox
Public Officer 8 February 2005