Press

Cue Energy: WA-359-P Extension of BP Equity Option

Posted by OilVoice Press - OilVoice

17-Apr-2018


• Extension of BP option to acquire 42.5% equity in WA-359-P extended by 6 months until 25 October 2018

Melbourne, Australia 17 April 2017; Cue Energy Resources Ltd (ASX:CUE) is pleased to advise that through its 100% owned subsidiary, Cue Exploration Pty Ltd, the 42.5% equity option over exploration permit WA-359-P granted to BP Developments Australia Pty Ltd (BP), as announced on 13 October 2016, has been extended by 6 months until 25 October 2018.

WA-359-P Permit

The exploration permit term of WA-359-P currently expires on 25 April 2018. Cue has submitted a suspension and extension application to the National Offshore Petroleum Titles Administrator (NOPTA) to allow new technical information to be incorporated into the Ironbark-1 well planning process.

Ironbark Prospect

Ironbark is a giant Mungaroo Formation prospect that is mapped with an area of up to 400km2 and a best technical estimate of 15 trillion cubic feet (Tcf) of prospective recoverable gas resource(1) based on an internal assessment performed by Cue.

The Ironbark prospect is less than 50km from the North Rankin platform (North West Shelf LNG) and in close proximity to Pluto and Wheatstone LNG infrastructure, providing cost effective commercialisation options.

BP and Beach Energy Agreements

As previously announced, Cue has executed agreements with BP(2) and Beach Energy(3)related to equity in WA-359-P. Through these agreements, 75% funding for the Ironbark-1 well has been conditionally secured. Cue is continuing discussions on funding options for the remainder of the well cost.

Cue EnergyBPEquity OptionAustraliaASXCue ExplorationIronbark Prospect

More items from oilvoice


Over $180bn Will be Spent on 88 Upcoming Oil and Gas Fields in Africa to 2025, Says GlobalData

Over $180bn will be spent on 88 upcoming oil and gas fields between 2018 and 2025. Capital expenditure (capex) into Africa's conventional oil, heavy oil and unconventional oil projects will add up to $88bn, $2bn and $3bn respectively over the eight-year period, according to GlobalData , a leadin ...

OilVoice Press - OilVoice


Posted 2 hours agoOpinion > GlobalDataOilgas +4

Coal Power Generation Declines in United Kingdom as Natural Gas, Renewables Grow

Source: U.S. Energy Information Administration, based on Digest of U.K. Energy Statistics and National Statistics: Energy Trends Note: 2017 values are estimates based on data through September. In the United Kingdom, electricity produced from coal declined from 42% of total electricity gener ...

OilVoice Press - OilVoice


Posted 3 hours agoOpinion > CoalPowerUnited Kingdom +6

Shell to Sell its Downstream Business in Argentina to Raízen

Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for US$0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations, liquefied petroleum gas, marine fuels, aviation ...

OilVoice Press - OilVoice


Posted 5 hours agoPress > ArgentinaDivestDivestment +5

Statement by the South Sudan Minister of Petroleum on OPEC/non-OPEC Collaboration

Prosperity through Unity A statement encouraging the continued collaboration between OPEC and non-OPEC nations by Hon. Amb. Ezekiel Lol Gatkuoth, Minister of Petroleum of the Republic of South Sudan . Juba, 24 April 2017 -- The stability of markets and global oil prices, and therefore the pr ...

OilVoice Press - OilVoice


Posted 5 hours agoPress > OPECNon-OPECSouth Sudan +4

Serica Energy: Erskine Field Update

London, 24 April 2018 – Serica Energy plc (AIM: SQZ), an independent oil and gas company with production, development and exploration licence interests in the UK North Sea and exploration interests in Ireland and Namibia, hereby provides the following update on the interruption to production at ...

OilVoice Press - OilVoice


Posted 5 hours agoPress > Serica EnergyAIMErskine Field +3
All posts from oilvoice