Hey cuties... heres a summary of the quarterly I put...

Hey cuties... heres a summary of the quarterly I put together...CUE is once again boring...
Gone were the days when so much was happening all around, that I didnt have time to put in a long post like this ... hehehe... the advantage of holding a multi stock portfolio...

oh well all... same as last month... this stock is still the bees knees... and it still isnt performing SP wise...

im adament... if CUE does not hit 20c this year, and oil prices are in the $50 range, then Id seriously have to consider giving shares up...
I think Manaia is a bankable...


Quarterly report update....
well... I dont think ive ever done an examination of any report that turned out to be so inaccurate...
Remember that I predicted (with conservative assumptions) that CUE would have 10 million dollars available (cash, and loan), and I added in the expected oil sales from Maari up until the end of the quarter...
in the end what we now have is 10.23 Million of cash + 4.54 million left on the loan... and 21,043 barrels produced from Maari for the quarter...
worth about 1.4 million dollars...
so all up... $16.17 million dollars attainable, but the lifted oil has not yet been sold... I look at it like an accrued revenue...
so why the difference of 6 Million on my prediction...?
CUE estimated development costs for the quarter to be $13.058 M... infact, they were only 7.97 m... a major difference...
And I also had no idea of production costs, so I used a figure corresponding to the previous report, and used 5m... when infact it only came to 1.9m...
I still have no idea why they were so large for the dec quarter...
CUE also sold 81,376 barrels from Oyong Oil production, when CUE only sold 38,324 barrels in the previous quarter...

So all in all, on that note, the quarterly was great...

Production from Maari, is now up and running for the entire quarter, and enough on its own to pay for total development, exploration, and admin costs for the next quarter...
and then we have SE Gobe, and Oyong oil to grow our cash backing...
later this year when Development costs drop off, we should be easily able to grow cash at bank by 10 million dollars per quarter...
so technically, within three years, we will have more cash in bank than the current market cap...(depending on developments of the next leg)...

Also good to note that instead of drilling Matariki, the JV may develop the M2A sands which have around 12-16 million barrels of oil...
which could potentially add 500,000 barrels to CUE..

Also good, that Spikey is now planned for later in 2009...

and that Oyong Gas is still online for first production in September at a whopping 50 MMCF daily gas production...big rates...

It now looks extremely unlikely that CUE would need to raise funds...
as the end of the current quarter, its attributable cash from all sources will be higher than the start of the quarter...
I dont think there would be any small ASX oiler (under one hundred million market cap) which has a lower risk profile than CUE has...
and we have the leverage to boot...

exploration,spikey this year.... and others...
appraisal, Manaia, PNG
development, Indonesia
Production, diversified... Oyong oil, se gobe, Maari...

Maari is the total value of this company...
and everything else is for free...
so in time, there will have to be a strong re-rate...