CUE-> Pantheon of small oil stocks

[Crypto Crude]

Im real lucky that I managed to get away from this stock when I did...
its now at the same levels 6 months later...
Next few weeks im back in...
later...

.^sc

[bermuda]

About 18 months ago a couple of posters bet me a dozen good Aussie red each that Maari would flow before Tui.

Shrewdy, I think Cue will do okay but it would take a lot more persuasion to get me in at this time.

Far better to stick with the big growth in NZO.

Shrewdy,
Re the above, I hope you took my advice. Cue going forward, will do a lot better now , but for certainty, I would still stay with NZO.

[Crypto Crude]

Bermuda,
I can accept that you would rather stay with NZO... we both know that NZO is a very good stock... Malcolm sounds just like it did on the NZO thread last year... its all about sentiment, and we easily spotted it before it changed..... We all know CUE will have its turn to re-rate just like NZO did... And CUE will perform bigger in percentage terms going off current market information...
CUE has multiple developments, and manaia is screaming for a tie in to the main development of Maari...

.^sc

[tricha]

Cue Energy Resources Limited

A.B.N. 45 066 383 971

RELEASE

Update on Cobra -1A Well

Cue Energy Resources Limited reports that PPL190 participants have decided to
sidetrack the Cobra -1A well. As at 0600 on 14

th July 2008, operations have been
completed on Cobra -1A well and activity has commenced to drill the Cobra -1AST1.
The BOP test had been completed and preparations were underway to RIH and kick-off
the sidetrack.
Since the last release the operator Oil Search has successfully recovered the wireline
logging tool and completed logging operations to the well total depth of 3202m. The
deeper Iagifu Sandstone is interpreted to be water-bearing.
Interpretation of the log data has indicated that the shallower Hedinia Sandstone may
contain a significant hydrocarbon column. Due to suspected formation damage, it was
not possible to obtain reliable pressure measurements in the potential reservoir interval
to confirm this interpretation. It was therefore decided to drill a short sidetrack to obtain a
fresh hole through the Hedinia Sandstone and undertake further evaluation.
Cobra -1A is located in PPL 190 and lies 13 kilometres east of the SE Gobe oil field and
7 kilometres east of the Bilip oil discovery.
The participants in PPL 190 are:
Oil Search Limited (Operator) 62.556%
Murray Petroleum Company 26.497%
Cue PNG Oil Company 10.947%
Any queries regarding the announcement should be directed to the Company on
(03) 9670 8668 or email mail@cuenrg.com.au.

Robert J Coppin
Chief Executive Officer 14

th July 2008

[jdg]

whoa, this has been a very problematic drill, but a 'significant' column is encouraging. i'd given up on cobra. safe to say my interest has been reignited. it will be most interesting to see what comes of this. it will also be interesting to see what the market thinks of it today.

-j

[Crypto Crude]

In at 21cents today on a patient bid....

Last night I read one thing in particular that made me get back in, aswell as the Cobra update...

(in reference on Technical analysis)....
It can help sometimes but all the good stocks I own make a mockery of it. I am very wary of it and that's why I could never bring myself to study it. Studying it confuses you. Far better to look at long term fundamentals. imho

I thought bugger it...this is one of those good stocks... Im not worried about Cobra backlash, its the long term fundamentals, and suddenly things have gotten much better...
...
In the 'conventional' oil Market, this is the best stock valued around $140 million dollars... I saw a valuation the other night that had 2009 Net profit after tax of 54 Million AUS conservative...
Throw exploration portfolio out the window...
Zeus worth 20 million to CUE right now for the free carry... ignore BPT...
Ignore CUES JV partners..... dont worry about exploration portfolio, PNG Indo... etc.... its all about Maari...
....
when they re-drill Manaia 600-800 meters to the North East, it is going to spew Oil... it was drilled in the wrong location....50cents next year a sure thing bar Market meltdown...
I wont say anything about Zeus well or BPT free carry, its all about Maari and manaia...
This Time I wont sell...
peace out...

.^sc

[Crypto Crude]

New announcement out from MEO...
CUE touched 22.5cents on ok turnover...
Bot trader working the dance floor...
-->Looking for fireworks, so far a few sparklers only...
We talked about someone lending me a few hundie million when NZO was $1.00-$1.20...
Can someone lend me $150million dollars...? haha...
Thats how good I feel about this... We are Going to have to be patient...
Im hoping for Cobra P and A, so I can get more...

.^sc

[tricha]

New announcement out from MEO...
CUE touched 22.5cents on ok turnover...
Bot trader working the dance floor...
-->Looking for fireworks, so far a few sparklers only...
We talked about someone lending me a few hundie million when NZO was $1.00-$1.20...
Can someone lend me $150million dollars...? haha...
Thats how good I feel about this... We are Going to have to be patient...
Im hoping for Cobra P and A, so I can get more...

.^sc

So whats the go with Cobra, the real deal Shrewd ?, I bought another 50,000 more shares at 21.5 cents.

I see one of the big mining gold companies in Canada are buying an oil company, as the oil price is killing them.


Interpretation of the log data has indicated that the shallower Hedinia Sandstone may
contain a significant hydrocarbon column.

[Crypto Crude]

Hey tricha,
I got back in based on fundamentals, I got Cobra as a free bonus...
Ensoc will be handed over to the maari JV, and The fallout from Cobra will be minimal to nothing (from 21c anyway)...
The chance of success for Cobra was originally 17%...
That chance has now increased based on New information which is pretty vague in detail due to formation damage and therefore not much info, including pressure testing...All we have been told is

-aA hydrocarbon column is indicated as being present in the Hedinia Sandstone objective, and may contain a significant hydrocarbon column

Cobra is on trend with a whole fairway of oil and gas discoveries including Kubutu, Moran, Angore etc... Cobra was aimed at the same prinicpal reservior in Gobe, SE gobe (CUE), Bilip, which is the Lagifu sandstone...
What is most exciting is the JV believe there is a big hydrocarbon column in the Hedinia sandstone...this Sandstone layer is interpretted to be larger than the Lagifu sandstone...
At this stage, Cobra is a wait and see...
I'll put some more info up shortly, Im getting more CUE this week...

.^sc

[Crypto Crude]

CUE have some amazing gas assets in PNG of Kimu and Barikewa...
heres abit of background information- Kimu, current 2P reserves are .85 TCF, drilled in 1998-1999 by OSH, and intersected 30m gross gas column

Barikewa,
reserves
1p, 150 BCF
2p, 720 BCF
3p, 1500 BCF

cue holds 14.8%... current CUE SP suggests that market has not even factored in Kimu or Barikewa, infact suggests that market is not aware of this, or factors this is as some sort of liability to the company ....
I read from OSH announcements that Barikewa holds significant 3P upside on 1500 BCF... Read OSH announcements and presentations, this company holds the future for CUE... Barikewa and Kimu are massive and Appraisal drilling will occur on Barikewa mid way through next year...
Manaia appraisal drilling late 1st quarter/early 2nd quarter...
and two Sampang PSC wells in the 3rd quarter...
aswell as Oyong first gas production in the third quarter, Maari full production in the 1st quarter... 2009 is going to be a big year...
Two free carries on Zeus and Spikey beach 4th quarter 2008, and big upside on Cobra results...
This is the mother of all stocks...
Ive thought about going 'all in' on it

My suggestion of CUE 45cents by Dec 09 is very conservative...

There is a new presentation out on the new CUE webpage at CUENRG.com...
go check it out...

.^sc