CPC gets 50% of these proceedsMaari Oil Field Purchase...

CPC gets 50% of these proceeds

Maari Oil Field Purchase Finalised
Cue is please to announce that the purchase by Cue of Delta Oil Taranaki Pty Ltd's 5%
interest in PEP 38413, the permit that contains the Maari oil field in the offshore Taranaki
Basin, New Zealand, has been finalized today.
The purchase price is Australian dollars 6.2 million; which represents A$2.48 per barrel
for the 2.5 million barrels of P50 recoverable oil volumes for the Maari field attributable
to Cue. The effective date of the sale is 1 December 2004.