Cue gets Mahakam extension

May 5, 2016

SKK Migas has approved Cue Energy Resources’ request for a four-year exploration extension of its 100% owned Mahakam Hilir production-sharing contract (PSC) until May 2020.

The PSC is in the Kutei basin onshore Kalimantan in Indonesia. This extension includes two contingent wells in the first two years, which Cue can elect to drill or withdraw from the PSC; and geological studies, pre-front-end engineering design studies and a plan of development in the latter two years.

Last month, the National Offshore Petroleum Titles Administrator approved Cue’s application for the suspension of Permit Year 3 work program commitment for WA-359-P and extension of the permit term.

Cue has 100% equity and is operator of WA-359-P in the Carnarvon basin, offshore Western Australia. The Year 3 work commitment comprises the drilling of one exploration well, which is now due by April 2018.



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