Past year: ▼ 5%(9.90c – 14.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Aug 2024drilling scheduled▲ GoodMajor
Cue confirms the Mereenie JV approved WM-29 and WM-30, about 30 days each to roughly 1,500m, drilling late 2024 or early 2025. Cue's 7.5% share is $2.4m, funded from cash. This resolves the open WM29/WM30 planning thread.
15 Aug 2024drilling scheduled▲ Good
Central, as operator, says the Mereenie JV approved two development wells, WM29 and WM30, after the NT gas deals. They aim to lift capacity above 30 TJ/d from 27 TJ/d, with drilling around end-2024 and gas in the first half of 2025.
29 July 2024material agreement▲ GoodMajor
Cue's Mereenie and Palm Valley JVs sign six-year gas sales agreements with the NT Government for 2025-2030, up to 3.6 PJ to Cue (2.5 PJ Mereenie, 1.1 PJ Palm Valley), take-or-pay, fixed price with CPI escalation. Arafura supply deferred to 2028. This answers the earlier call for gas buyers.
29 July 2024material agreement▲ Good
Horizon Oil relays the Mereenie JV's new six-year NT Government gas deal from 2025 and the Arafura deal restructured to 2028-2030, with Arafura's decision due by 31 Dec 2024. Repeats Central and Cue; adds no new Cue detail.
29 July 2024material agreement▲ Good
Central says the Mereenie and Palm Valley JVs signed six-year gas deals with the NT Government, up to 40.5 PJ gross from 2025 to 2030. The Arafura deal now starts 1 Jan 2028, with its condition date moved to 31 Dec 2024. Repeats Cue's release.
29 July 2024material agreement● Neutral
Arafura revises its Mereenie gas deal: 5.49 PJ in 2028, then up to 10.95 PJ across 2029-2030, totalling up to 16.44 PJ. This replaces the earlier 27.4 PJ from 2026. Take-or-pay stays; the only condition is Arafura's investment decision by 31 Dec 2024.
28 June 2024director officer appointment● Neutral
Melanie Leydin steps down as CFO on 30 June 2024; Cue has hired a full-time Financial Controller, saying growth prompted this, taking the finance function from Vistra Australia in-house.
24 June 2024material agreement▲ Good
Cue confirmed the South32 gas supply extension had become unconditional. It restated its 7.5% Mereenie interest, alongside Central (operator) 25%, New Zealand Oil & Gas 42.5% and Horizon Oil 25%.
24 June 2024material agreement▲ Good
Central says the South32 gas sale agreement extension has become unconditional. This resolves the 30 June 2024 transport-agreement condition on the extension.
24 June 2024material agreement▲ Good
NZOG relays that the South32 Cannington gas deal extension of 12 months is now unconditional. Repeats the operator news; lists NZO at 42.5% of Mereenie and Cue at 7.5%.
24 June 2024material agreement▲ Good
Horizon Oil confirms the South32 extension is unconditional, meaning the Mereenie JV supplies 1.46 PJ to South32 in 2025. Repeats the earlier releases.
17 June 2024material agreement● Neutral
Central says the 30 June 2024 condition date for the Arafura gas deal is extended one month to 31 July 2024. The Mereenie JV deal (Cue 2.06 PJ) remains conditional.
17 June 2024drilling scheduled● Neutral
NZOG relays Cue's announcement of approval for 14 more Mahato PB development wells. Nothing new; Cue holds 12.5% of Mahato per this text.
17 June 2024drilling scheduled▲ GoodMajor
SKKMigas approves Mahato Phase 2: 14 more development wells in the PB field, with the first already started and full program expected in 12-18 months. Field is above 6,000 bopd gross; costs are recoverable under the PSC. Cue interest subject to a pending transfer to Riau Petroleum.
4 June 2024investor presentation● Neutral
Investor presentation repeats known half-year results: revenue A$29.3m, EBITDAX A$19.3m, profit A$9.1m, A$14m dividend paid. Cites market cap A$69.84m, share price about A$0.10 and no debt. No new events.
17 May 2024material agreement● Neutral
NZOG relays the same Mereenie gas expression of interest (up to 90 PJ gross, mid-2024 to 2030). Repeats the operator and Cue releases; restates NZOG's pending purchase of Macquarie's 25%.
17 May 2024material agreement● Neutral
Cue relays Central's expression of interest for Mereenie gas: up to 40 TJ/d or 90 PJ gross to the JV, mid-2024 to end-2030. Only a call for buyers, not a contract; Cue holds 7.5%.
12 Apr 2024material agreement● Neutral
Cue relays Central's 12 April release on the as-available Power and Water gas deal (up to 8.6 PJ to end-2024) and NT market update. Duplicates the operator release already covered; Cue holds 7.5% of Mereenie.
12 Apr 2024material agreement● Neutral
Mereenie JV signs an as-available gas deal with NT Power and Water for up to 8.6 PJ to end-2024. Mereenie is currently curtailed by 10-15 TJ/d because the pipeline stays shut. Initial sales are expected to be moderate. Cue holds 7.5%.
15 Mar 2024regulatory community update● Neutral
NZOG relays Central's pipeline outage notice. It also states NZOG agreed on 14 Feb 2024 to buy Macquarie's 25% of Mereenie, giving NZO 42.5%, Horizon Oil 25%, Central 25% and Cue 7.5%. Cue's interest is unchanged.
15 Mar 2024regulatory community update▼ Bad
Operator Central says the Northern Gas Pipeline is expected to be closed until June 2024, blocking east coast deliveries. Mereenie JV sales are cut by about 13.6 TJ/d (Cue's share is 7.5%) while it re-contracts gas to NT customers. Relayed operator release.
15 Mar 2024regulatory community update▼ Bad
Cue relays Central's notice that the Northern Gas Pipeline outage is expected to last until June 2024, cutting Mereenie JV sales by about 13.6 TJ/d. Duplicates the operator release; Cue holds 7.5% of Mereenie.
29 Feb 2024half year report▲ GoodMajor
Half-year to December 2023: revenue up 21.7% to A$29.3m and profit up 33.8% to A$9.07m. Cash is A$23.17m with the NZOG loan fully repaid. The board declared a 2-cent special dividend, about A$14m, the first dividend in this history.
29 Feb 2024dividend declaration▲ GoodMajor
Cue declares a 2-cent unfranked special dividend (about A$14m), record date 22 March, paid 5 April 2024. It also adopts a policy of reviewing a dividend each half-year, resolving the capital management review that began in 2023.
29 Feb 2024dividend declaration● Neutral
Cue's 50.04% shareholder NZOG says it expects A$7.0m from Cue's 2-cent special dividend on 5 April 2024. Relayed news attaching Cue's dividend release, with nothing new.
29 Feb 2024investor presentation▲ Good
Results release repeats the half-year figures: revenue A$29.3m, EBITDAX A$19.3m, profit A$9.1m, and the 2-cent special dividend. Outlook: two Mereenie wells planned subject to JV approval, MR6a workover expected done in Q4 FY24, Paus Biru extension talks continuing.
19 Feb 2024other● Neutral
Operator Central, at the ASX's instruction, clarifies that its earlier phrase 'pricing reflects strong market conditions' means pricing consistent with market prices. No new figures or terms for Cue's Arafura gas deal.
13 Feb 2024material agreement▲ Good
Cue's own release confirms its Arafura gas deal: up to 2.06 PJ net, firm take-or-pay, CPI-escalated fixed price, starting 2026. The text here says up to 5 years including a 2-year extension. Still conditional on Arafura meeting project conditions. Repeats the 12 Feb news.
12 Feb 2024material agreement▲ GoodMajor
Arafura Rare Earths signs gas deals with the Mereenie JV, including Cue, for up to 27.4 PJ from 2026 over three years, with a two-year extension option. Cue's share is 2.06 PJ. Take-or-pay, but conditional on Arafura's Nolans project meeting conditions by 30 June 2024, including a final investment decision.
12 Feb 2024material agreement● Neutral
Operator Central announces its own gas deal with Arafura for up to 6.85 PJ from 2026, aggregated with Mereenie JV gas (Cue 7.5%) to supply up to 27.4 PJ. It is conditional on Arafura meeting conditions by 30 June 2024. Duplicates the Arafura release on the same deal.
