CUE 5.00% 10.5¢ cue energy resources limited

maari

  1. 205 Posts.
    Found this courtesy of WSJ article last month.
    The Maari oilfield, off New Zealand's North Island, produces an average of 12, 000 barrels of oil a day and is expected to surpass 20 million barrels in production sometime in October-November, he said. OMV New Zealand became operator of the field 2002. Output started in February 2009.

    The company is planning investments of between 400 million New Zealand dollars ($323 million) and NZ$500 million over 2013 and 2014 to drill new wells and upgrade and refurbish old ones, he said.

    It is already in talks to hire two rigs--a jack-up and a semi-submersible--for drilling development and exploration wells.

    While the company is ready to start as soon as it gets a suitable rig, Mr. Zeilinger expects the earliest start date may be in the third quarter of 2013.
    OMV as operator have 69% of Maari. CUE has 5%.
    If costs are proportioned CUE would be up for NZ$29m to NZ$36m if my interpretation is correct. Any comments.
 
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