CUE had a good quarter. Net cashflows up AUD $5.8m.
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CUE had a good quarter. Net cashflows up AUD $5.8m.
CUE has cleared the decks with the loan to NZO etc. They are in a position where they can make cash flow distribution decisions and still have money for the committed drill programmes.
2024 is a massive year for both Cue and NZO. The cashflows are real and aren't going to go away.
Over 50% market cap in cash.
http://nzx-prod-s7fsd7f98s.s3-websit...493/411775.pdf
Quarterly Activities Report. $46.4m cash in the bank - $0.207 per share.
Higher bank balance and equity value from new drills.
Happy to hold.
There is a good article in Business Desk with Shane Jones talking about oil and gas in NZ.
He is looking at Sovereign guarantees so the Governments can't come along and shut the Industry down.
Seller(s) active with volume trades over the last week.
https://www.nzx.com/announcements/426050
New Zealand Oil & Gas signs a conditional Gas Supply Agreement with Arafura RareEarths for up to 4.8 Petajoules (PJ) of gas to be supplied for a period of up to 5 yearsfrom 2026.
Sounds in the full announcement from central petroleum that this will be a very profitable agreement for all parties.
Arafura are backed by carmakers including Hyundai and construction is well ahead .
The plant is close to Alice springs so low pipeline costs .
http://nzx-prod-s7fsd7f98s.s3-websit...122/412477.pdf
NEW ZEALAND OIL & GAS BUYS MORE OF THE MEREENIE GAS FIELD
Highlights
• Conditional acquisition of a further 25% interest in the Mereenie gas field, AmadeusBasin, NT, Australia
• Doubles Mereenie 2P Total reserves and increases NZO's net 2P Total Reserves by 41%
• Upfront payment of A$42.5m, to be adjusted for revenues and costs from 1 April 2023,and further contingent payments of up to A$9m
• 100% vendor debt facility of up to A$63m covers all purchase and transaction costs,with additional availability to fund development activity
Someone still desperately selling. Good opportunity to get in at these levels.
Net production receipts for the last quarter for Amadeus Basin was $7.3m AUD for NZO, including Cue's share. It includes Dingo and Palm Valley but must be at least 85% of revenue from Mereenie.
Might take their net production receipts to around $12.5m AUD per quarter.
Please remember the wise counsel of Phaedrus, more than a decade ago.