Cue Energy reports Indonesian operation

The following is an excerpt from Australian energy firm Cue Energy Resources? quarterly report released on Monday.

Sampang PSC - Oyong Field - Madura Strait, East Java (15% interest)
Operator: Santos

PRODUCTION / DEVELOPMENT

Oyong Field
No oil production revenue was received from the field during the quarter due to timing of oil cargoes.

The average production rate for the field for the quarter was approximately 3500 barrels of oil per day. Production was shut in for five days while modifications were made to the production barge for phase 2 gas production.

Cue did not have any hedging arrangements in place during the quarter.

Oyong Gas Phase
Construction of the Oyong Gas phase development continued during the quarter ahead of anticipated first gas in late third quarter 2009.

Wortel Field
A plan of development for the field was submitted to BPMIGAS for approval.

EXPLORATION

Sampang PSC
General exploration studies continued during the quarter. (end of excerpt)