• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 14 minutes Saudi Fund Wants to Take Tesla Private?
  • 18 minutes California Solar Mandate Based on False Facts
  • 1 hour Starvation, horror in Venezuela
  • 1 hour Monsanto hit by $289 Million for cancerous weedkiller
  • 8 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 4 hours Why hydrogen economics is does not work
  • 5 mins Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 7 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 12 hours Saudi Production Cut or Demand Drop?
  • 20 mins Oil prices---Tug of War: Sanctions vs. Trade War
  • 26 mins Correlation does not equal causation, but they do tend to tango on occasion
  • 33 mins Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 10 hours Merkel, Putin to discuss Syria, Ukraine, Nord Stream 2
  • 13 hours What Turkey Sanctions Are Really About
  • 6 hours Saudi Aramco IPO Seems Unlikely
Alt Text

Petronas Halts all Imports of Iranian Crude in South Africa

Engen, a South African based unit of Petronas, has announced that it has halted all crude imports from Iran, which used to account for 80 percent of

Read more +
Alt Text

Acquisition of Maari 3D Seismic Survey Commences

Cue energy has just released good news regarding permits for projects in New Zealand

Read more +
Alt Text

Environmental Approval Extended for Tassie Shoal LNG Project

MEO Australia Ltd has just received environmental approval for its Tassie Shoal LNG project.

Read more +

Sampang PSC, Indonesia Development Update

Cue Energy Resources Limited (CUE) is pleased to provide an update on the Sampang PSC development project.

As per the ASX release of 1st February the Wortel Field commenced gas production on 31st January 2012. Over the course of the last month the production rate from Wortel has been gradually increased up to the current stable rate of approximately 50 billion BTU per day (BBTU/D). The balance of the gas production is from the Oyong Field. Combined they are currently producing the daily contract quantity of 90 BBTU/D to the power station at Grati. Cue’s share of production is 13.5 BBTU/D (approximately 12.6 million standard cubic feet per day) before production sharing with the Indonesian government.

Drilling of the Oyong-11 infill oil production well was completed in February and production from the well has been brought on-stream. The new production from Oyong-11 has increased current oil production from the field to over 3,000 barrels of oil per day. (Total oil and gas production equates to approximately 2,500 barrels of oil equivalent per day net to Cue before production sharing with the Indonesian government). The well is still cleaning up and production is being optimized.

The Sampang PSC is located south of Madura Island, offshore Indonesia. The PSC contains the Oyong Field, Wortel Field and Jeruk discoveries. The permit is operated by Santos (45%), with partners SPC (40%) and Cue (15%).

Any queries regarding the announcement should be directed to the Company on
(03) 9670 8668 or email mail@cuenrg.com.au

The full release can be found in the above pdf.

Oilprice - The No. 1 Source for Oil & Energy News