hardly a seller in sight. buy sell ration 7:1, page-22

hey pat pat, hey nzoiler...wingman...TG....patrolly...
my mate yatchy (hehehehe)....kiwigeo...hellyeah...dargie...
dardon...doudaibk...Masta... and others...
hold on tight.... this may take abit more time to roll out... when it does watch out....

A poster today on another forumn mentioned that CUE had a mammoth party in 1983 when the SP hit one dollar...?
We talked about having a big party when CUE hits 50 cents...
I think we must make it a one dollar party now...
hey, heres a post I made on another forumn...


yes our future revenue stream has halved in the last few months with oil falling...
CUE still looks good... Maari was given the go ahead at $40 US per barrel (profitable at that price)...
the further delays have not been such a bad thing eah...
Maari full field production late 1st quarter 2009 gives us more time...
I think by then prices could head further north...
if they dont then theres nothing to worry about IMO...
we have all these other activities to support the SP...

namely...
Manaia appraisal well 2009
Bariweka-3 appraisal well 2009
matariki exploration well 2009
ongoing maari... development 2008/2009
spikey beach.. exploration...2009
two wells in Jeruk (similar size to Maari)... appraisal...2009
Cash Maple.... development plan 2009
Zeus....exploration well... 2008
Kimu.... appraisal 2010 and onwards...
Cobra discovery...
Oyong Oil....existing production...
Oyong Gas... production 2009
Wortel Gas.... production 2010
ongoing SE Gobe (small scale)...ongoing production...

so we have Kimu and Wortel gas production that might not get much of a mention in 2009 (just progress reporting on Wortel)... and all the others go into advanced stages of their respective cycles...

45c target price is very conservative...
If I added in the true value of some of CUE's assets
then we are looking far north of one dollar fifty...
I usually have no consideration for exploration wells what so ever, (but I like Matariki)... the others are a gamble...and in all respects Matariki is too...

Kimu and Jeruk are wild cards...(jeruk more speccy)....

the Annual Report has forecasted 2009 production of
530,000 barrels of oil... .8 BCF....

I come up with 60 million dollars in revenues for 2009 with a current market cap of 100million...
2010 revenues of 80 million dollars...
we must add Manaia revenue streams to that...

Right now we can book CUE as a sure thing big 'popa' bagger 2009, 45cents on the downside...
but we have to remain cautious with Maari production start up because we have seen many 1st production stuff ups over the years...
I will be ready to bounce on any sign of bad news...
I highly doubt it will come to that...

all in all... markets will dictate to us what our company should be worth...
I easily know CUE is worth 45 cents now based on whats to come...and when it comes for CUE to be worth more again based on realisation, and derisking of these assets... with a portfolio that is diverse and proactive to production paths in all proven assets... The PNG assets are reliant on Oil Search, which too has stepped up a gear...
I guess this foresight into CUE's future (and other companies) is why we play the sharemarket profitably over the medium to long term...

it will be a one dollar party with Zeus, or Matariki coming through...