The big money with Oyong is with the gas.... Cue has a contract...

The big money with Oyong is with the gas.... Cue has a contract to supply Surabayah with gas, and will be drilling a huge gas-bearing structure in the Oyong area later this year. The potential is enormous.

They will be drilling Bilip in PNG in a few months, and another Oyong-sized stucture near Oyong as well.

I believe the finacing costs of Oyong are around $US100M, so Cue's share would be aroung $US15, or call it $A30M. Bank finance is being arranged now, and is awaiting final costings from contractors, etc.

Seismics on the gas structure indicate that hydrocarbons are present... If it is gas, the sales would allow an after tax profi to Cue of around $A12M per annum from this alone. Development would be cheap, as they are close to shore.

There has been big steady buying of Cue over the last few months. The market depth shows a buyer for 1 million shares, but any dip in price brings out the buyer.

Santos is the obvious buyer in a takeover. To them Cue would be cheap bickies at say 20 cents.

I have a few, purchased today.

Take no notice of me... do your own research. After all, wasn't it me who suggested that Davnet would control the world's communications networks (or something equally plausible at the time)