Wednesday, June 27, 2012

Cue Energy [ASX: CUE] - Naga Selatan-1 Well updates, Mahakam Hilir PSC, Indonesia - 27Jun2012

Cue Energy Resources (ASX: CUE) has provided the following update regarding the drilling of the Naga Selatan-1 well. The well is located within the Mahakam Hilir PSC in the Kutei Basin, Indonesia. The well operator is SPC Mahakam Hilir Pte. Ltd.

The Naga Selatan (Southern Dragon) prospect is situated approximately 7.5km to the west of the producing Sanga-Sanga oilfield.

Total depth (TD) of the 8 ½ inch hole section was reached on 20th June 2012 at 8,300 feet. Following conditioning of the hole, wire-line logs have been run and this programme is on-going. Cue will provide further reports to the market once wire-line logging has been completed and the results have been conclusively evaluated.

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