Cue Energy Resources Limited (AU:CUE) has released an update.
Cue Energy Resources Limited has begun drilling the PC-01 exploration well in Indonesia’s Mahato PSC, targeting the Bekasap Sandstone reservoir, known for its oil production potential. The operation, which commenced on November 4, 2024, aims to reach significant depths to assess the presence of hydrocarbons. Investors are eyeing this development as Cue holds an 11.25% interest in the field, which currently produces over 6,000 barrels of oil daily.
For further insights into AU:CUE stock, check out TipRanks’ Stock Analysis page.
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