was anyone at the conference who saw CUE's presentation? i have only read the presentation slides. although not new, the graphs showing oil and gas reserves coming this way from later this year are exciting. at least they are to me. obviously the market wasn't inspired much, unlike the case of some companies that presented. this worries me none, though. CUE’s time will come, and come soon. notwithstanding any start up problems, CUE is assured of a re-rating as these projects progress starting with maari next quarter – the revenue from them dwarfs CUE's modest market cap.

one issue to note is the drop off in oil from 2010 when SE Gobe, Oyong and Maari decline. however, these will be surplanted by gas revenues from Oyong and Wortel that kick in from 2010, the medium term future is very bright indeed.

moreover, given the exploration schedule, more drilling success is highly likely.

also, i note they give cobra a 17% chance of success. god knows how they come up with that figure, but given CUE has 10 percent of the drill, and it could contain 30-40m barrels, it would stunning if it came in – it would be a bigger find (for CUE) than maari. no great shakes if it doesn't (in some ways it's a distraction), but the sp would really move up on a strike there.

exciting times ahead with the different exploration drills, but i’d expect a steady sp increase as production from the various projects draws near and then, one by one, begin.

-j