CUE-> Pantheon of small oil stocks

[trackers]

i doubled up today at close, hoping this 14 cents resistance holds.

Its going to hold - Attempting to top up some more at these levels today, what a bargain

[Crypto Crude]

Today Horizon Oil came out and announced a sale of half its PNG assets for 55 Million US dollars... Benjamins mate...

This is important for us, because CUE have significant PNG assets...
what are our PNG assets then worth?

-Barikewa gas field (120 BCF)
-Kimu gas field (30 BCF)
-S E Gobe producing gas field (2.5 BCF)
-PPL 190 (bilip oil discovery, significant Cobra discovery (gas recovered), and condensate....

A while back,
I worked out that Kimu 30 BCF (2P) is equilivant to 5,467,468 million barrels of oil (BOE)... for our stake..
Barikweka 120 BCF 2P... 21,869,874 Barrels of oil (BOE)... our stake...
and S E Gobe, currently in production with 455,000 barrels of oil (BOE) to come...(2.5 BCF)...

I used the benchmark converson rate of one barrel equaling to 5487 CF...

So our PNG proven assets are BOE equilivant to 27.8 Million barrels of oil our stake... adding in PRL 190... and the fact that Cobra could open up eastern PNG...
I could argue that our PNG assets are worth more than 55 Million US dollars... in time, for sure....

Id say right now that our current market cap factors in close to Zero value from PNG...
hummm...
its either that, or other CUE assets are being discounted...

Soulman,
yes our 5% of Maari is small... but you have to understand that Maari is a vehicle for the big picture... and a pretty good one...
Maari is still significant which in time will attribute this company with close to 5 million barrels of production...for a 90 million market cap...

so what is the big picture...?

getting our 45 ish million barrels of oil (2P into development, then production)...... 45 (ish) million is roughly our current 54 million BOE, less Maari, Oyong oil, Oyong gas, Wortel Gas, S E Gobe gas...

CUE is not all production, or All development, or All Exploration, or All appraisal... it is a bit of everything...
And its current/future production (Maari, Oyong oil, Oyong gas, SE gobe, Wortel) make this cheap alone...
Our diversified revenue streams will hopefully mean that we dont need to sell a stake in our PNG assets to development them...

P3 Global Energy got 50% of HZN PNG for a steal....


There is alot of talk about The Gladstone Project in Queensland...
Getting yourself positioned in companies set to benefit from this project is a good thing...
PNG LNG is similar...
get yourself companies set to benefit from this...
PNG LNG is massive, as big as they come...
MOS, and CUE are the leveraged companies...

Our JV partners in Kimu are Oil Search... Barikewa, OSH, STO...

PNG LNG major partners
Exxon Mobil
Oil Search
Santos
Nippon oil exploration
EDA oil...

And in time CUE will outperform all of them, because we are leveraged...

make sure you do some research...
Our Assets are not Phase one of the PNG LNG project...
they come through after that... but they come through...
because we have exceptional JV partners, wanting to develop the entire region in time...

CUE energy-> potential to have more cash in bank than the current market cap in three years...
developing current portfolio...
and a few free wells farned out here and there along the way...

Our PNG assets will take good time...
it will work out to be 100% return per year, give or take from here on in, over a 5-10 year period...
...we have a different set of risks (much lower)...
... we dont have the high risks of finding oil/gas...

there is a great chance that CUE will be one dollar per share in 5-10 years...

Buffet averaged 20% per for the long term...
at my 21.6c averaged Im still on track to outperform the man himself...
6 years ago I ramped up off 3k, and here I am..

thank you...

.^sc

[MrDevine]

6 years ago I ramped up off 3k, and here I am..

How many k you got there now?

Mr D.

[Crypto Crude]

Mr Devine...
Ive got around 20k...
and I got a 5k trip to China....

I dont have all my funds on the market...
I probably should buy more CUE... I wouldnt want phaedrus on my case... hehehehe... rule number one, never average down...
anyway, I have enough...
last year I sold out of AKK at 21c, sold out of LMP at 9-10c (AUS), sold out of CTP around 9-10c, sold out of WHN at 13.5c, sold CTPOA at 15c...and didnt use the funds to buy more CUE

cleaned out of everything in 2007 including NWE... and replaced it with CUE, then sold that when I realised it was going to take longer... then got back in during 2008 (during Momoho) when developement drilling was on the doorsteps, and then I had to wait 4 months further...
Of course I shouldnt have touched anything last year, but I tried to be cute, and got caught out when I loaded up on CUE....
I pretty much ran all my profitable positions back to breakeven/ or up
apart from CTP which only went down after I bought it...

oh well... Im sleeping well... I know im onto a good thing, and I can wait....
losing on opportunity cost plays has been a lesson, esp FAR at 2c, CVN at lows, and others... considering all thats happened around the World im happy to just make my money back, and then decide if I am going to hold CUE for the long term or not...
perhaps I will have a dabble elsewhere, but hold onto a few...
oh well...
see you round...

.^sc

[Corporate]

Mr Devine...
Ive got around 20k...
and I got a 5k trip to China....

I dont have all my funds on the market...
I probably should buy more CUE... I wouldnt want phaedrus on my case... hehehehe... rule number one, never average down...
anyway, I have enough...
last year I sold out of AKK at 21c, sold out of LMP at 9-10c (AUS), sold out of CTP around 9-10c, sold out of WHN at 13.5c, sold CTPOA at 15c...and didnt use the funds to buy more CUE

cleaned out of everything in 2007 including NWE... and replaced it with CUE, then sold that when I realised it was going to take longer... then got back in during 2008 (during Momoho) when developement drilling was on the doorsteps, and then I had to wait 4 months further...
Of course I shouldnt have touched anything last year, but I tried to be cute, and got caught out when I loaded up on CUE....
I pretty much ran all my profitable positions back to breakeven/ or up
apart from CTP which only went down after I bought it...

oh well... Im sleeping well... I know im onto a good thing, and I can wait....
losing on opportunity cost plays has been a lesson, esp FAR at 2c, CVN at lows, and others... considering all thats happened around the World im happy to just make my money back, and then decide if I am going to hold CUE for the long term or not...
perhaps I will have a dabble elsewhere, but hold onto a few...
oh well...
see you round...

.^sc

SC any thoughts on the 56mboe mean estimate for Manaia? Higher than expected?

[trackers]

Shrewdy come have a beer at L.S at bush inn on monday...

http://www.sharetrader.co.nz/showthr...?t=6264&page=3

[Crypto Crude]

hey Corporate,
56 million barrels of oil in place is in line with previous expectations...
and out of that, 20 million barrels recoverable is in line with previous expectations... around one million barrels more to CUE energy...
this is what I previously said... and as I said in this quote below, drilled in a more optimal location, volumes could be higher...

Manaia (exciting appraisal well later this year), is described as under filled...
The reasoning behind this is Manaia is 6-7 km west of the natural oil migration fairway, where oil migrated South from the East Maui Kitchen gazillions of years ago...
so as the Trap at Manaia was developing many years ago, oil was diverted West filling some of the structure...
This is why Manaia is expected to increase oil reserves only 1 million barrels more to CUE, and 20 million barrels total more for the JV...
This is the most likely outcome in my view, but could be higher volumes when drilled in more optimal location, and flow tested...

The natural oil migration pathway is accross the tasmin ridge, which Manaia lies to the west...
The natural oil migration pathway passes straight through the Matariki prospect, and straight through the Maari Oil field...

.^sc

[Financially dependant]

Today Horizon Oil came out and announced a sale of half its PNG assets for 55 Million US dollars... Benjamins mate...

This is important for us, because CUE have significant PNG assets...
what are our PNG assets then worth?

-Barikewa gas field (120 BCF)
-Kimu gas field (30 BCF)
-S E Gobe producing gas field (2.5 BCF)
-PPL 190 (bilip oil discovery, significant Cobra discovery (gas recovered), and condensate....

A while back,
I worked out that Kimu 30 BCF (2P) is equilivant to 5,467,468 million barrels of oil (BOE)... for our stake..
Barikweka 120 BCF 2P... 21,869,874 Barrels of oil (BOE)... our stake...
and S E Gobe, currently in production with 455,000 barrels of oil (BOE) to come...(2.5 BCF)...

I used the benchmark converson rate of one barrel equaling to 5487 CF...

So our PNG proven assets are BOE equilivant to 27.8 Million barrels of oil our stake... adding in PRL 190... and the fact that Cobra could open up eastern PNG...
I could argue that our PNG assets are worth more than 55 Million US dollars... in time, for sure....

Id say right now that our current market cap factors in close to Zero value from PNG...
hummm...
its either that, or other CUE assets are being discounted...

P3 Global Energy got 50% of HZN PNG for a steal....


There is alot of talk about The Gladstone Project in Queensland...
Getting yourself positioned in companies set to benefit from this project is a good thing...
PNG LNG is similar...
get yourself companies set to benefit from this...
PNG LNG is massive, as big as they come...
MOS, and CUE are the leveraged companies...

Our JV partners in Kimu are Oil Search... Barikewa, OSH, STO...

PNG LNG major partners
Exxon Mobil
Oil Search
Santos
Nippon oil exploration
EDA oil...

And in time CUE will outperform all of them, because we are leveraged...

make sure you do some research...
Our Assets are not Phase one of the PNG LNG project...
they come through after that... but they come through...
because we have exceptional JV partners, wanting to develop the entire region in time...



Our PNG assets will take good time...
it will work out to be 100% return per year, give or take from here on in, over a 5-10 year period...
...we have a different set of risks (much lower)...
... we dont have the high risks of finding oil/gas...

t
thank you...

.^sc

Interesting article, China wanting to feed it's LNG expansion

Sinopec in Talks to Buy LNG From Exxon PNG Venture

http://www.bloomberg.com/apps/news?p...I&refer=energy

[macduffy]

This report may have implications for CUE, given SPC's shareholding therein.

Singapore's Keppel sells SPC to Petrochina for $1 bln
Sun May 24, 2009 8:08am EDT


SINGAPORE, May 24 (Reuters) - Singapore's Keppel Corp (KPLM.SI) said on Sunday a wholly-owned unit had sold its entire stake in Singapore Petroleum Company (SPC) (SPCS.SI) to PetroChina for S$1.47 billion ($1.02 billion). (Reporting by Harry Suhartono, editing by Dan Lalor) ($1 = 1.442 Singapore dollars)

[Financially dependant]

This report may have implications for CUE, given SPC's shareholding therein.

Singapore's Keppel sells SPC to Petrochina for $1 bln
Sun May 24, 2009 8:08am EDT


SINGAPORE, May 24 (Reuters) - Singapore's Keppel Corp (KPLM.SI) said on Sunday a wholly-owned unit had sold its entire stake in Singapore Petroleum Company (SPC) (SPCS.SI) to PetroChina for S$1.47 billion ($1.02 billion). (Reporting by Harry Suhartono, editing by Dan Lalor) ($1 = 1.442 Singapore dollars)

Thanks macduffy, It's coming think and fast today

http://www.news.com.au/business/stor...-31037,00.html