29 Oct 2024admin correction● Neutral
Amended AGM presentation: page 10 now specifies the contingent resources are 2C, footnotes amended, and a reserves and resources statement added as Appendix 1. Corrective filing with no new operating news.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Oct 2024investor presentation● Neutral
AGM presentation largely repeats the October investor deck, updated for cash of A$12.8m at 30 September 2024 and no debt. Restates 10 FY25 development wells and Mahato exploration. No new operational news.
23 Oct 2024agm notice● Neutral
Chairman's AGM address recaps FY24: A$50m revenue, about 630 thousand boe, nearly A$20m free cash flow, A$21m dividends and a 60% share price rise. Says the board will balance sustainable dividends with growth. No new information.
22 Oct 2024quarterly activities report● Neutral
September quarter: cash receipts A$12.7m, net cashflow A$3.5m excluding the A$7m dividend, cash A$12.8m (from A$16.3m), no debt. 3 of 14 Mahato wells drilled; PC-1 exploration well due November; Mereenie WM29/WM30 drilling from December or January.
8 Oct 2024investor presentation● Neutral
October 2024 investor presentation repeats FY24 results (revenue A$49.7m, EBITDAX A$32.8m, 631 mboe, A$21m dividends), cash A$16.3m and no debt. Restates 10 development wells in FY25, 6 approved for FY26, and Mahato exploration drilling. No new information.
30 Sept 2024annual report● Neutral
Published 2024 annual report repeats known results: revenue A$49.7m, profit A$14.2m, EBITDAX A$32.8m, net cash A$16.3m, 631 mboe, A$21m dividends declared. Chairman notes A$4m of debt was repaid in the first half.
23 Aug 2024annual report▲ Good
FY2024 results: revenue A$49.7m (down 3.8%), profit A$14.19m (down 6.7%), EBITDAX A$32.8m, cash A$16.26m. A 1-cent final dividend (about A$7m) was declared, payable 26 September 2024, with an unmodified audit opinion.
23 Aug 2024other● Neutral
Corporate governance checklist (Appendix 4G) lodged alongside the annual report. Administrative filing with no new information on operations or finances.
23 Aug 2024dividend declaration▲ GoodMajor
Cue declares a 1 cent final dividend (about A$7m), paid 26 Sept 2024, on top of the 2 cent special paid in April, so A$21m is returned for FY2024. Production was 631 mboe; 10 development wells planned in FY2025.
23 Aug 2024dividend declaration● Neutral
Echelon Resources says it expects about A$3.5m from Cue's 1 cent final dividend, paid 26 September 2024. States it holds 50.03% of Cue. Relays Cue's news with no new information.
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.
24 July 2024quarterly activities report● Neutral
June quarter: cash receipts A$16.9m, net cashflow A$5.6m excluding the A$14m dividend, cash A$16.3m, no debt. First of 14 new Mahato wells is producing. Cue's Mahato interest is now accounted at 11.25% (down from 12.5%) from 1 Nov 2023, pending government approval.
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%.
30 Apr 2024quarterly activities report● Neutral
March quarter: production steady at about 1,700 boepd, cash receipts A$8.4m with about A$6.8m of Mahato revenue still to arrive, cash A$24.6m before the A$14m dividend, no debt. PB-16 at Mahato found oil; operator reviewing field for more wells.
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.