Cue Energy Resources : Approval received for Farm-in to Mahato PSC

Microsoft Word - CUE ASX Release CoverNEW

ABN 45 066 383 971

ASX Market Announcements

ASX Limited

Exchange Centre

Level 4, 20 Bridge Street

Sydney NSW 2000

Approval received for Farm-in to Mahato PSC Onshore Central Sumatra , Indonesia

Attached please find Cue Energy Resources Limited's release with respect to the above mentioned.

Yours faithfully

Andrew M Knox

Chief Financial Officer

CUE ENERGY OVERVIEW

Cue is an Australian based oil & gas company with activities in Australia, New Zealand and Indonesia.

THE COMPANY HAS:

 Long life production

 A strong balance sheet

 An active exploration program

CUE ENERGY DIRECTORS

 Geoffrey King (Chairman)

 Stuart Brown

 Rowena Sylvester

 Andrew Young

CUE ENERGY MANAGEMENT

 David Biggs (CEO)

 Andrew Knox (CFO)

 Jeffrey Schrull (Exp Man)

OFFICE

Level 19

357 Collins Street

Melbourne Vic 3000

CONTACT DETAILS

Tel: +613 8610 4000

Fax: +613 9614 2142

EMAIL

mail@cuenrg.com.au

WEBSITE

www.cuenrg.com.au

LISTINGS

ASX: CUE

ABN 45 066 383 971

RELEASE

(ASX: CUE)

Approval received for Farm-in to Mahato PSC Onshore Central Sumatra , Indonesia

Melbourne, 26 March 2015: Cue Energy Resources Limited (ASX:CUE and the Company) is pleased to announce receipt of government approval for the farm-in agreement with Bukit Energy Central Sumatra (Mahato) Pte Ltd (Bukit) to acquire a
12.5% participating interest in the Mahato Production Sharing Contract (PSC) onshore
Central Sumatra, Indonesia.
The 5,600 sq km Mahato PSC is located in a highly prospective area in the prolific Central Sumatra basin close to several producing oil fields, including Indonesia's largest onshore oil fields; the Minas oil field (over 5 billion barrels) and the Duri oil field (over 3 billion barrels). The block contains multiple appraisal and exploration drilling opportunities with 2 wells currently planned for 2H 2015.

Location Map: Mahato PSC, Central Sumatra, Indonesia

The 2015 work plan includes an appraisal well delineating the possible extension of the Petapahan field into Mahato PSC, a subsequent exploration well nearby and seismic acquisition to further high grade exploration prospects for future drilling. As part of the farm-in, Cue's share of costs for the two wells and seismic is capped by Bukit.
The Company is currently seeking additional exploration and production opportunities in Indonesia.
The Mahato PSC is surrounded by existing infrastructure which is expected to result in a reduced cycle time to development of any discoveries.
Any queries regarding this announcement should be directed to the Company on

(03) 8610 4000 or e-mail: mail@cuenrg.com.au.
David Biggs
Chief Executive Officer 26 March 2015