Cue Energy – Full year
preliminary financial results FY 2012
Cue Energy Resources (ASX:
CUE) has provided its full year preliminary financial report for the financial
year ended 30 Jun 2012. This Financial Year Report is provided to the Australian
Stock Exchange (ASX) under Listing Rule 4.3A.
Highlights:
- Production income of $41.2M
- Gross profit of $27.4M
- Net profit after tax of $5.7M
- Cash at year end of $33.7M
- Final Maari project debt repayment made, company now debt free
- Gas production commenced from Wortel field asset, reliably delivering contract gas quantity to Indonesia Power
- Cash received from sale of Cash Maple gas field of US$8 million
- Two wells drilled in Mahakam Hilir PSC, onshore Kalimantan, Indonesia. Appraisal drilling planned commencing Q1 2013
- Infill well drilled in Oyong field increased production by over 40%
- Free carried exploration well drilled on Banambu Deep Prospect in WA-389-P
- Foxhound 3D seismic survey acquired over WA-360-P. Significant in de-risking the Maxwell prospect
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