This is an excerpt from the previous Jeruk 2 ann by CUE.
Jeruk -1 was drilled on a sole risk by Santos. Cue declined to join the sole risk. Cue
has also declined participate in the drilling of Jeruk -2 on the basis of the substantial
cost of the well to Cue and the risked potential of the Jeruk structure. Cue retains its
right to participate in any Jeruk development subject to sole risk premiums based on
Cue's share of the costs of the Jeruk -1 and -2 wells.
Cue retains its full rights in the remainder of the Sampang PSC.
Participants in the Sampang PSC are :
Cue Sampang Pty Ltd 15%
Santos (Sampang) Pty Ltd 45% (Operator)
Coastal Indonesia Sampang Ltd (El Paso) 40%
If someone can advise what the consequences are from this ann, then it may shed some light as to why no ann from CUE today
Cheers
jeruk-2, page-2
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