Past year: ▼ 5%(9.90c – 14.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Apr 2025material agreement termination▼ BadMajor
Cue confirms the conditional Arafura gas agreement lapsed, as Arafura's final investment decision was not made. This ends the extended condition from February. The joint venture, in which Cue holds 7.5%, will market the 2028 firm gas to other customers.
16 Apr 2025material agreement termination▼ Bad
Horizon, a Mereenie partner, says the Arafura gas agreement lapsed after the 31 March 2025 condition was missed. The joint venture will re-market the 2028 firm gas. Repeats the operator's news.
27 Mar 2025investor presentation● Neutral
Investor presentation repeating the half-year result: A$27.1m revenue, A$17.1m cash, no debt, and A$28m (4 cents per share) returned since the start of FY24. No new information is disclosed.
7 Mar 2025production update▲ Good
Operator Central says Mereenie WM30 was brought online on 26 February, producing over 4 TJ/d against about 3 TJ/d pre-drill. Field sales capacity is now about 32 TJ/d, and the two-well program came in under budget.
7 Mar 2025production update▲ GoodMajor
Cue relays that WM30 is online at over 4 TJ/d, beating the 3 TJ/d pre-drill figure. With WM29, the wells add about 9 TJ/d (versus up to 6 TJ/d expected), taking Mereenie capacity to 32 TJ/d. Cue holds 7.5%. Largely repeats the operator.
25 Feb 2025half year report● NeutralMajor
Half-year to 31 Dec 2024: revenue A$27.1m (down 7.4%), profit after tax A$4.3m (down 52.2%), cash A$17.1m. A 1 cent per share interim dividend (about A$7m) was declared, payable 26 March 2025. Profit hit by higher production costs and lower revenue.
25 Feb 2025half year report● Neutral
Media release on the half-year result: revenue A$27.1m, EBITDAX A$15.2m, profit A$4.3m (prior A$9.1m), cash A$17.1m and a 1 cent interim dividend. Repeats the Appendix 4D, adding that Cue may lift its Paus Biru interest by 10% before FID.
19 Feb 2025drilling result▲ Good
Horizon, a Mereenie partner, reports WM30 completed with air-drilling to 1,331 m TVDRT and tie-in expected toward end of February. Says the two-well program finished safely, on time and within budget. Repeats operator news.
19 Feb 2025drilling result▲ Good
Central says Mereenie WM30 was drilled to 1,620 m through the Pacoota-3 target and the rig released, with tie-in expected early March. WM29 has stabilised at about 5 TJ/d. WM30 expected in line with pre-drill; program forecast under budget.
19 Feb 2025drilling result▲ Good
Cue confirms Mereenie WM30 was drilled to 1,620 m and the rig released, ending the two-well program, which is forecast under budget. WM29 is online at about 5 TJ/d. WM30 tie-in is expected in early March. Cue holds 7.5%.
19 Feb 2025drilling result▲ Good
Echelon, Cue's roughly 50% shareholder, relays that WM30 is complete and will be tied in, with WM29 stable at about 5 TJ/d. Expects field capacity above 30 TJ/d. Repeats the operator's news with enthusiastic commentary.
3 Feb 2025material agreement▼ Bad
Cue says the condition date for the conditional Arafura gas supply agreement is extended again, from 4 February 2025 to 31 March 2025. The Arafura condition is still unmet and has now slipped a second time.
29 Jan 2025quarterly activities report▲ Good
December quarter: net cashflow A$4.3m, cash A$17.1m (up from A$12.8m), no debt, receipts A$13.1m, production 1,600 boe/d. Three Mahato development wells drilled, including horizontal PB-30 at over 600 bopd. Mereenie WM29 producing 6 TJ/d; Paus Biru FID progressing.
22 Jan 2025well test result▲ GoodMajor
Central says WM29 began flowing to sales on 20 January 2025, testing about 7 TJ/d over two hours, more than double the 3 TJ/d pre-drill expectation. Output is limited to 6 TJ/d by the wellhead equipment. WM30 is drilling, with sales targeted for early March.
22 Jan 2025well test result▲ Good
Echelon, Cue's roughly 50% shareholder, relays that Mereenie WM29 began sales on 20 January 2025 after a ~7 TJ/d test, choked to 6 TJ/d. Repeats the operator's result; adds only commentary on the drilling approach.
22 Jan 2025well test result▲ GoodMajor
Cue reports Mereenie WM29 began gas sales on 20 January 2025, testing about 7 TJ/d and held at 6 TJ/d by equipment limits, double pre-drill expectations. Should lift field capacity to the 30 TJ/d target. Cue holds 7.5%; WM30 drilling.
16 Jan 2025drilling progress report● Neutral
Horizon, a Mereenie partner, reports WM29 completed to 1,326.3 m TVDRT with tie-in expected toward end of January, and WM30 spudded 16 January. Repeats the operator's news with some well detail; nothing new for Cue.
16 Jan 2025drilling progress report▲ Good
Cue relays that Mereenie WM29 is completed and WM30 spudded on 16 January 2025. The wells are expected to restore field capacity above 30 TJ/d. Cue holds 7.5%. Repeats the operator's update.
16 Jan 2025drilling progress report▲ Good
Operator Central says Mereenie well WM29 was air-drilled and completed across the Pacoota-3 sandstones, with tie-in expected late January, earlier than planned. Second well WM30 spudded on 16 January 2025. Wells aim to restore capacity above 30 TJ/d.
20 Dec 2024material agreement● Neutral
Horizon relays that the Arafura gas agreement condition date moves from 31 December 2024 to 4 February 2025. Repeats Central's release with no new information.
20 Dec 2024material agreement● Neutral
Arafura says the condition date under its Mereenie gas supply agreement for the Nolans project moves from 31 December 2024 to 4 February 2025. Repeats the extension already announced by Central and Cue; no new information.
20 Dec 2024material agreement● Neutral
Cue confirms the condition date for the conditional Arafura gas supply agreement, previously 31 December 2024, is extended to 4 February 2025. The condition (Arafura's investment decision) remains unmet; this is Cue's own filing of the delay already announced by Central.
20 Dec 2024material agreement● Neutral
Echelon relays that the Arafura gas agreement condition date moves from 31 December 2024 to 4 February 2025. Repeats Central's release with no new information.
19 Dec 2024material agreement● Neutral
Central says the condition date for the Arafura gas agreement, previously Arafura's investment decision by 31 December 2024, is extended to 4 February 2025. A short delay to the open Arafura thread; the condition is still unmet.
5 Dec 2024drilling spud● Neutral
Horizon, a Mereenie partner, confirms the WM-29 spud on 5 December 2024 with the Ventia 101 rig, for a two-well campaign of about two to three months. Repeats Central's and Cue's news and adds nothing new for Cue.
5 Dec 2024drilling spud▲ Good
Cue confirms drilling began on 5 December at WM29, the first of two Mereenie wells, expected to take two to three months. Up to 6 TJ/d (100%) of extra gas can be sold firm under the NT Government agreement. Cue holds 7.5%.
5 Dec 2024drilling spud▲ GoodMajor
Operator Central says WM29, the first of two Mereenie development wells, spudded on 5 December 2024. The wells aim to restore capacity above 30 TJ/d and produce at least 25 PJ gross, with extra gas sellable under the NT Government agreement.
3 Dec 2024drilling result▼ BadMajor
The PC-01 exploration well in the Mahato PSC, drilled to 5,800 ft, found no hydrocarbons in testing of the Bekasap formation despite zones of interest on logs, and was plugged and abandoned. A dry hole for the exploration well flagged in the quarterly.
19 Nov 2024other● Neutral
Cue lodges its revised Securities Trading Policy, approved by the board on 14 November 2024, as the listing rules require. Administrative filing with no operational or financial information.
12 Nov 2024drilling spud● NeutralMajor
The PC-01 exploration well in the Mahato PSC spud on 4 November 2024, targeting the Bekasap sandstone at about 4,800 ft, with a depth of 5,600 ft expected. Cue holds 11.25%. A near-field test beside the PB field, which makes over 6,000 bopd gross.
