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    Cue Energy's Western Australia Permit Extended

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Summary

Cue Energy Resources has been notified by the National Offshore Petroleum Titles Administrator (NOPTA) of the approval of its application for a suspension of the Permit Year 3 work program commitment for WA-359-P and extension of the permit term.

by: Shardul

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Asia/Oceania

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Cue Energy's Western Australia Permit Extended

Cue Energy Resources has been notified by the National Offshore Petroleum Titles Administrator (NOPTA) of the approval of its application for a suspension of the Permit Year 3 work program commitment for WA-359-P and extension of the permit term.

The Year 3 work commitment comprises the drilling of one exploration well which is now due by April 2018. The permit term has also been extended until April 2018, the company said Thursday. 

Cue has 100% equity and is operator of WA-359-P.  

WA-359-P contains the Ironbark gas prospect. The area has best technical estimate of more than 15 trillion cubic feet (Tcf) of unrisked prospective gas resource based on internal technical assessment by Cue. 

Cue is currently undertaking a farmout process to find a suitable joint venture partner to participate in the drilling of a well targeting the Ironbark prospect. The extension of the permit tenure will assist Cue to advance this process. 

 

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