InvestSMART

Cue Energy Resources Limited (ASX:CUE)

ALERT: Price-sensitive ASX Announcement for CUE
Current share price for CUE : $0.115 0.005 (4.55%)+
Announcement
Release
15 Dec 2025 10:02AM
Price at Release
$0.110
Full Release
download
Summary
Cue Energy Resources Limited, along with its Mereenie Joint Venture (JV) partners, has signed a binding Letter of Intent (LOI) with the Northern Territory's Power and Water Corporation (PWC). This agreement aims to support the immediate start of early works for an accelerated drilling program of two new wells in the Mereenie gas field, targeting drilling commencement in mid-2026. The JV intends to finalize and execute Gas Sale Agreements (GSAs) based on conditional term sheets that cover uncontracted firm gas production from Mereenie through to 2034. The initiative is designed to quickly deliver significant new gas volumes to the Northern Territory, enhancing regional gas supply security. Horizon Oil Limited, which holds a 25% interest in the Mereenie field with other JV participants including Cue Mereenie Pty Ltd, underscores this as a crucial step in boosting gas supply from the Amadeus Basin and meeting the NT’s gas demand.
Key Points
  • Horizon Oil Limited and Mereenie JV partners sign binding LOI with PWC.
  • Accelerated drilling program for two new wells is planned.
  • Drilling targeted to start in mid-2026.
  • Long-term GSAs to be formalized, covering production through 2034.
  • Initiative aims to enhance Northern Territory's gas supply security.
  • Horizon Oil holds a 25% stake in Mereenie field, Cue Mereenie Pty Ltd is a JV participant.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.