CUE-> Pantheon of small oil stocks

[JBmurc]

Suspect that is a typo .
I sold out of cue during the drill and thrill of Ironbark .
Bought more NZo after Ironbark failed and no longer see any reason to buy back into cue .
Ogog directs and managers both-exceedingly well by my perception (not always shared )
It appears to me that NZO provides services and now even a loan to CUE.
NZO has majority control so why buy CUE?

Yes OG Energy(branch of OG Global) makes up the same seats in both companies boards.. so yes any major decision's will be with OG approval ,,,

Why NZO wants to buy CUE ... well because its cheap they know the assets ..Vs peers .. but maybe they don't and are happy to see CUE increase in value as the market sees Cap gain upside with potential divie

[fish]

Yes OG Energy(branch of OG Global) makes up the same seats in both companies boards.. so yes any major decision's will be with OG approval ,,,

Why NZO wants to buy CUE ... well because its cheap they know the assets ..Vs peers .. but maybe they don't and are happy to see CUE increase in value as the market sees Cap gain upside with potential divie

My impression is that Eyal Ofer is content with what he has got and will not be buying CUE nor pay dividends .

[JBmurc]

My impression is that Eyal Ofer is content with what he has got and will not be buying CUE nor pay dividends .

And thats what we have seen since the lowball 10c offer from NZO years ago ... and you could be right ... CUE/NZO could continue to grow assets and income streams Energy prices aren't going far south ever IMHO well unless we see major Nuclear power plants rollout and maybe 10-15yrs time O&G prices might come under control and trend lower.. otherwise world population continue to grow 88mill pa and humans effect drives energy growth..

So CUE will continue to be a Growth stock fine by me.. $$1mill per week av income at present energy prices ..this should only go higher if OG Energy doesn't want any income from their investments ..fine thats just more re-investment in more Energy projects more growth in production from present projects ...

Maybe we will see a Merger .. pretty much the same mgmt same mix of assets Go look at NZO last presentation many asset they promote are held by CUE
...lets just have one main office ..one ASX listing ..one CASH PILE .. streamline admin drive exploration /Energy income developments

Re-name ... and put the goal forward to grow into a 500-1bill cap Oceania Energy player ... Oceania Energy ??

[JBmurc]

Dumbfounded at present thought there would be a few weak hands wanting to Dump CUE like they did last week with around 1.5mill shares dumped in the lows 7's ?
here I was offering to buy ...but nothing .... weak hands have exited last week ... Might need another 1000+ point fall on the DOW tonight ..Oil crash in price ,,

[nztx]

Dumbfounded at present thought there would be a few weak hands wanting to Dump CUE like they did last week with around 1.5mill shares dumped in the lows 7's ?
here I was offering to buy ...but nothing .... weak hands have exited last week ... Might need another 1000+ point fall on the DOW tonight ..Oil crash in price ,,

might have to join you in this party JB

[JBmurc]

might have to join you in this party JB

Yes depending on how much your after can take awhile .. pretty low free-float near on 80% of the shares are held by the TOP20 .. 50.4% of course is NZO holding

I paid upto 7.8c today to take me to 3.2mill ... which will do for now

[fish]

Yes depending on how much your after can take awhile .. pretty low free-float near on 80% of the shares are held by the TOP20 .. 50.4% of course is NZO holding

I paid upto 7.8c today to take me to 3.2mill ... which will do for now

This seems very cheap considering oil and gas prices.
My margin lending account is stretched so I cannot buy back in but may in the future .
I feel a lack of certainty where Cue is heading.
It makes sense for NZo to merge /takeover /etc with cue but no sign of this happening .
I feel there may be a problem here (have a strong impression Eyal Ofer has values and principals that minority cue shareholders do not understand -one of which it is an inter-generational family company with massive wealth )

[JBmurc]

Getting my head around PB Mahato OIL Field >>
Due to the success of the PB field, costs for the initial development of the field have now been recovered under the Production Sharing Contract (PSC) and a higher portion of production will be allocated to the Government of Indonesia.(I understand this means CUE gets to keep 50% of their interest share)

From last Qty
The operator is seeking government approval to continue development drilling, above the previously expected 4 more production wells, to further develop and increase production from the PB field. PB-10 is the next planned well and is expected to commence during the current quarter...

Lastest ann>>>
An additional 12x oil production wells will be drilled in the PB oil field, Mahato PSC, under a Field Development Optimisation (FDO) plan approved by SKKMigas, the Indonesian Regulator. The total number of approved production wells in the FDO is 20, with 3 water injection wells.

There are currently 8 oil production wells and 1 water injection well the field. The first development well in the current phase of drilling, PB-18* has commenced. Wells are expected to take approximately 1 month to drill and complete, so the current program is expected to take 12-14 months.


---So I wonder what happen to PB-10 ? ...so at present 8x Oil producers ...with a planned another 9x with 3x water injection wells in total planned..

1 January 2022 the successfully drilling of 8 production wells (PB-1 to PB-8) in 2021 with the field currently producing at approximately 5,500 barrels of oil per day (so 687bbl av. each well)

At the end of the March quarter PB field production was approximately 4,800 bopd from 8x oil wells and they drilled PB-9 during Qtr .... so I'm assuming PB1 production reduced and they used it as a water injection well = Enhanced Oil Recovery (EOR)

So if we use the last production per well numbers we see 600 bopd average ..

9x more oil producing wells = 5400 bopd (4800bopd first stage - natural reduction est 12.5% down to 4200bopd my rough est 9600bopd .... and I might be optimistic here so lets use 9000bopd)

9000bopd - CUE 12.5% interest -1125bopd - indo PSC 50% = 562bopd nett to CUE x A$170bbl======

My est==$95,540 per day from Mahato once all 17x wells are producing..or A$8.6mill per Qty

Of course we will see natural reduction going forward but still Great FCF for CUE ... need more of these projects ..As non of CUE Oil Production is hedged or under contract price but sold at spot prices..

Unlike the Gas which much is contracted for a period of time ..and will be another boost to CUE cashflows when some of these Gas contracts come up for renewal ...(I understand later this year some are)

[fish]

My est==$95,540 per day from Mahato once all 17x wells are producing..or A$8.6mill per Qty

Of course we will see natural reduction going forward but still Great FCF for CUE ... need more of these projects ..As non of CUE Oil Production is hedged or under contract price but sold at spot prices..

Unlike the Gas which much is contracted for a period of time ..and will be another boost to CUE cashflows when some of these Gas contracts come up for renewal ...(I understand later this year some are)[/QUOTE]

My understanding is that the gas contracts low fixed prices expire in 2023/2024 .
Looks like this could be timely.
Russia has just announced it is cutting gas supply to Germany by more than half .

[JBmurc]

My est==$95,540 per day from Mahato once all 17x wells are producing..or A$8.6mill per Qty

Of course we will see natural reduction going forward but still Great FCF for CUE ... need more of these projects ..As non of CUE Oil Production is hedged or under contract price but sold at spot prices..

Unlike the Gas which much is contracted for a period of time ..and will be another boost to CUE cashflows when some of these Gas contracts come up for renewal ...(I understand later this year some are)

My understanding is that the gas contracts low fixed prices expire in 2023/2024 .
Looks like this could be timely.
Russia has just announced it is cutting gas supply to Germany by more than half .[/QUOTE]

Yes along with more Gas Flows from NT Aus from new discoveries