Zeebries 3D Survey Underway in Carnarvon Basin

Cue Energy Resources is pleased to announce that the Zeebries 3D Seismic Survey is underway in permits WA-359-P and WA-409-P in the Carnarvon Basin.

As previously advised Cue has entered into farmout agreements with Apache Northwest Pty Limited (Apache) in respect of Cue’s 50% participating interest in the WA-359-P and WA-409-P permits. Under the terms of the agreements Apache has agreed to fund the acquisition, processing and interpretation of a 3D seismic survey across the permits. 

This commitment will earn Apache a 40% interest and operatorship in each permit.

The Zeebries survey commenced in late November, 2010 and is expected to take approximately three months to acquire. It is expected to define several new drillable leads and prospects.

Participants in WA-359-P are:

Cue Energy Resources Limited (Operator) 50%

Exoil Limited 50%

Participants in WA-409-P are:

Cue Energy Resources Limited (Operator) 50%

Rankin Trend Pty Ltd 50%