Cue spends $5.7m in Sampang E. Java

Australian oil and gas company Cue Energy Resources Limited (Cue) said on Thursday its has spent US$5.7 million for exploration activity in Sampang block, East Java, according to company?s director.

?The high cost of the drilling program has been driven by the blowouts, and the additional wells that were not contemplated in the original budget. In fact we have participated in seven wells in the block versus the two wells planned originally,? Cue?s director Richard Tweedie said in shareholders annual meeting.

Cue holds 15 percent in Sampang PSC, while Coastal Indonesia Sampang Ltd and Santos Limited hold 40 percent and 45 percent respectively. (Leo)