Cue Energy Resources : Director Resignation and Appointment

ASX ANNOUNCEMENT

DIRECTOR RESIGNATION AND APPOINTMENT

Melbourne, Australia 14th Dec 2017: Cue Energy Resources Ltd ("Cue") ASX:CUE announces that Mr Duncan Saville has resigned from his position as Non-Executive Director of Cue with immediate effect.

Given the announcement today of New Zealand Overseas Investment Office approval of O.G. Oil & Gas' Partial Takeover Offer for New Zealand Oil & Gas, who are the majority shareholders of Cue, Mr Saville considers it to be appropriate to resign from the Board of Cue.

Cue Chairman Grant Worner thanked Mr Saville for his service as a Director.

"During the time Duncan has been on the Board of Cue, he has provided valuable corporate finance advice and strategic discipline. The Cue Board wishes to thank Duncan for his contributions over the last 16 months and we wish him the very best for the future."

The Cue Board has resolved to appoint Ms Melanie Leydin as a director of Cue until a more permanent replacement is secured. Ms Leydin is a principal of the chartered accounting firm, Leydin Freyer and is the Cue's Company Secretary and Chief Financial Officer.

For an on behalf of the Board,

Grant Worner

Chairman

About Cue Energy:

Cue Energy Resources Limited is an Australian Stock Exchange (ASX:CUE) listed oil and gas exploration and production company. Cue's FY17 revenue was A$35million from oil production in the Maari field, offshore New Zealand and oil and gas production in Sampang PSC, Indonesia. Cue has operated and non-operated interests in exploration permits in the Carnarvon Basin, offshore Western Australia and onshore Indonesia.

T +61 3 8610 4000 F +61 3 9614 2142 Email@cuenrg.com.au www.cuenrg.com.au

Level 3, 10 Queen Street, Melbourne Victoria 3000, Australia