mercorella takes position.....

Anyone know why Lion's Gus Mercorella took a position in CUE during April? He nows has a 6% plus interest in the stock.

Is it possibly related to Lion's acquisition of interests in the Cooper Eromanga Basin? And by that I mean could CUE be contemplating selling its Oyong interests (a good idea as Yogi has noted) and putting some money into Australia in some deal with Lion?.

Company has always acknowlwdged that there were shareholders uncomfortable with its Indonesian exposure. And company has also said often enough that it would be interested in opportunites in NZ and Australia.

Oyong is taking a long time to finalise and Cue hs found it very difficult to debt fund the A$26 million it need to meet its share of development costs. Cue is now saying at least 40% of that would have to be equity, which would be some capital raising for a company only valued at $20 million.

Yogi has pointed out the difficulty the juniors have in making a go of it in Indonesia so youy ask yourself why would Cue want to go against the trend. Surely being in PNG is difficult enough?

Cue has been very quiet of late and interest in it on this board has almost dried up. Production in SE gobe is indecline and revenues are being held up by higher oil prices. The possibility of Misubishi getting a methanol project off the ground in PNG which would use gas whih Cue partly owns, is interesting but gee what do you really reckon about the chances of that happening?!!

And whatever happened to the gas pipeline to Queensland proposal?

Cash up Cue and look elswhere than in busted a..e countries (to quote our foreign minister).