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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
10 Aug 2026 9:20AM
Price at Release
$0.110
Full Release
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Summary
Cue Energy Resources Limited released their Annual Reserves and Resources statement as of 30 June 2026, showing a reduction in 2P reserves to 4.5 MMboe due to production and revisions. The revisions, which are aligned with updated technical and commercial assessments, resulted from changes in the Mahato, Sampang, Maari, and Mereenie fields. Additionally, Cue's decision to withdraw from the Sampang PSC led to the de-booking of 2.4 MMboe in 2C contingent resources. New prospective resources in the Mereenie Footwall were reported, and the company anticipates recognizing non-cash impairment charges of $3-$5 million. Capitalized costs of $4 million for the Paus Biru project were written off following Cue's withdrawal decision.
Key Points
  • Cue Energy Resources Limited reported total 2P reserves of 4.5 million barrels of oil equivalent (MMboe) as of 30 June 2026.
  • The decrease from 5.5 MMboe in 2025 is due to 0.6 MMboe production and a 0.4 MMboe downward revision.
  • The revisions are based on technical and commercial assessments, primarily affecting the Mahato, Sampang, Maari, and Mereenie assets.
  • Cue plans to withdraw from the Sampang PSC by December 2027, leading to the de-booking of 2.4 MMboe in 2C contingent resources.
  • New gas prospective resources were identified in the Mereenie Footwall with an unrisked volume of 0.7 MMboe.
  • Cue expects non-cash impairment charges of approximately $3-$5 million for the Maari and Sampang assets in FY26.
  • Capitalized costs of around $4 million associated with the Paus Biru project were written off due to Cue's decision to withdraw.
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.