Good morning groovers......pumped and ready for action.
Keep an eye on CUE, its moved from 23.5 to 30.5 since i first posted on it a few weeks ago.
There is little liquidity which i know you guys dont like but i see that as a positive because with a tight register it wont take much for this to move higher.
They are currently re-entering the 1st well in Indonesia after getting a pipe stuck. However, they did flow high pressure gas for seven days with a flare up to 8 metres so sounds good.
There could be a chance of oil down lower because they have not reached TD of 5500ft yet. Also the field immediately adjacent has oil.
Upon completion of this 1st well they will move the rig to the 2nd Indonesian well where they will target oil.
Then as i have said before in the second quarter they have a 35% free carry with Woodside as the operator.
Volume has recently increased and we have a bot working the depth which looks like its accumulating.
Should move higher as BESBS players move in before the Woodside drill and on likely positive results from Indonesia.
