CUE-> Pantheon of small oil stocks

[Crypto Crude]

talking to my mate Jim on the phone tonight who's been to a few sharetrader meetings.... We reckon they have so many engineers, that they are using the excess supply as cooks in the kitchen...
oil on toast... hahaha....

Man... I cant believe it... 2 years ago CUE would have been inching 40cents now at these oil prices/debt levels/etc..
today we are struggling to breach 10cents...
first oil... and upgrade... info that we already knew was coming... info that should rerate the company no doubt... info that really didnt change the sp...
its so sick..
tired of being so right in the wrong market... hahaha....

thought today that CUE was going to go for alittle run... up 5%... prrrfffttttt.... HZN did well today...

Man... im probably starting to sound desperate here, so im going to back off and let mr market do the talking...
give ramp where ramps due...and trust me... its due here....
geezz.... no love for a stock that pretty much has everything...

the two off putters, debt (albiet healthy debt), and negative cashflow, sorted out in a few months...

There has to be a floor on the sp at 10cents...


Arrgghhhh.... somebody... please do yourself a favour and make some money...congratulations to you if your pockets are stuffed full...
Everything ive said is out there to be read...

We will be laughing after Manaia when we have more oil, and drilling another exciting prospect that could get us north of 50cents alone...
early stages of oil reserves upgrades
peace out and later all...

.^sc

[Ketel One]

Maari oil is looking pretty cheap. Fun calculation:

628 239 007 (CUE Shares) / 3 050 000 (CUE's 5% of 61MMbls 2P Maari) = 206 shares / barrel.

206 * 10c (current CUE SP) = $20.60AUD = $13.35USD / barrel.

[Corporate]

Maari oil is looking pretty cheap. Fun calculation:

628 239 007 (CUE Shares) / 3 050 000 (CUE's 5% of 61MMbls 2P Maari) = 206 shares / barrel.

206 * 10c (current CUE SP) = $20.60AUD = $13.35USD / barrel.

You should include debt in the calculation, plus how much it costs to lift it.

SC - What is your take on the different project life and also difference 2p reserves annouced by HZN and CUE?

[tobo]

watching technicals - RSI & Slow stochastic have buy signals.
Watching for possible imminent:
- break sp downtrend
- MACD may go positive
- OBV might flatten and go positive

<a href="http://www.findata.co.nz/Markets/StockQuote/ASX/CUE.htm">
<img src="http://chart2.findata.co.nz/?e=ASX&s=CUE&p=D&n=180&w=560&h=800&l=1&vol=1&i=MAC D-OBV-RSI-SStoch&ma=25&sc=1" style="border:0px solid black; width:560px; height:800px" />
</a>

ToBo. Not holding CUE (but thinking about it). BOW,VPE,NWE,RFE

[trackers]

POO up another 5% today, two healthy rises in two days (Brent = USD$45)... Good timing

[boysy]

im not sure a reserves increase has actually happened guys as pointed out by others hzn has always stated that figure as the reserve estimate and cue has used an entirely different number. The question has to be asked why is there a difference ?

[trackers]

Not too exciting, but I notice that buying interest is outweighing selling interest for the first time in a while.. 1.6m vs 1.3m

[Financially dependant]

Not too exciting, but I notice that buying interest is outweighing selling interest for the first time in a while.. 1.6m vs 1.3m

Yes I was looking at the buying depth too, another good day of over 1 mill share traded would put a hole in the sellers side and hopefully an appreciation of SP.

This seems to be the way the charts are looking too, a bit of resistance to get through at these levels.

[Crypto Crude]

SC - What is your take on the different project life and also difference 2p reserves annouced by HZN and CUE?

hey corporate,
its not good having JV partners reporting different info...

increased reserves did not come as a shock or anything like that...
it was well known that reserves upgrades were coming....
maybe not so soon though...
It all came in a rather untactiful way...
its not good...

As for the actual upgrade, it is unquestionable the authenticity of it...
theres some ASIC law prohibiting the release of fraudulent market information...

would have been better to have had the JV release it together... oh well...
HZN's got to look after number one... So they have to do what they have to do to secure funds...

We know that oil reserves will trend closer to 100 Million barrels recoverable than 50M barrels... and thats all I need to know...
This was the edge I was suppost to have...

My ramping is not senseless... it does carry a point...

The fact that the main field has had two oil discoveries in zones other than the moki formation (which is current development reserves).... and then we have Manaia.... 3 upside shots...
recent upgrade was of Moki reserves only...
so still 3 shots at further upgrades...
blah blah blah... re read the thread...

Dont worry about the market, the market is not worried about you...
So the fact that it was delivered to the market the wrong way doesnt really change anything...
The only thing that bothers me is the actual performance of the field...

I know the fields got 80 Million barrels at least (current reserves plus Manaia)... so who cares what mr market is told, who cares what mr market knows (must not know much) hehehehehe...

PPP have 10% of 50M Barrels... Cue will have 5% of close to 100M barrels...

Pan have nothing else...

CUE has everything else, and a bag of Chips...

hope that helps...

.^sc

[Crypto Crude]

boysy-im not sure a reserves increase has actually happened guys as pointed out by others hzn has always stated that figure as the reserve estimate and cue has used an entirely different number. The question has to be asked why is there a difference ?

hey boysy,
HZN mentioned reserves upgrades many times... but I dont think they made them official...ie 2P....
if you can see anywhere HZN had previously reported 60 Million barrels 2P, then post it here please...
this was a report mid way through last year with official reserves at that time of 50m barrels...
HZN had been saying similar things to this...

New Zealand’s Maari production lease may contain almost 75% more recoverable oil than the 50 MMbbl on which the final investment decision was based, according to an independent analyst’s report for minority partner Horizon Oil.
Australian investment group Wilson HTM said in its report that the greater Maari area in the offshore Taranaki Basin, which incorporates the Maari and Manaia prospects, has an updip potential that could increase the field’s current reserves of 50 MMbbl to about 87 MMbbl.
Wilson HTM believes the upside potential from the M2A sands zone above the main Moki sands structure at Maari is about 12 MMbbl.
It adds that the latest interpretation of the nearby Manaia prospect, about 10 km southwest of Maari, indicates an upside potential of about 25 MMbbl.
Both updip figures were calculated as a gross mean recoverable reserves potential, Wilson HTM said.
Its report also says studies of 3D seismic data show the original 1970 Manaia prospect discovery well, Maui-4, was drilled off-crest.
Maui-4 discovered an under-saturated oil accumulation in poor quality Mangahewa Formation sands that tested 575 bopd. Two small Moki accumulations were also found in the Maui-4 well.
The partners, headed by operator Austrian firm OMV, are scheduled to use the jack-up Ensco Rig 107 to drill eight Maari development wells (five production and three water injection) later this year.
Wilson HTM said the Maari partners were also due to appraise the Manaia and M2A zones using the Ensco 107. Manaia had the potential as a subsea tie-back to the Maari production facilities of an unmanned platform and the floating, production storage and offtake (FPSO) vessel Raroa.
“AVO and inversion work also suggests that reservoir quality and/or hydrocarbon saturation may improve updip from Maui-4”, Wilson HTM said.
OMV and partners approved the A$399 MM development of Maari in late 2005, with first oil from the 50 MMbbl field scheduled for late 2008 and a production plateau of about 35,000 bopd achieved several months later. Overall project costs have since increased to at least $A520 MM.
Total field production is expected to decline by about 25-30% per year. The Maari partners are operator OMV NZ (69%), Horizon Oil (10%), Todd Petroleum Mining (16%) and Cue Energy Resources (5%).

.^sc