Cue farms-in for stake in Mahato PSC in Sumatra

Cue Energy Resources Ltd.

Cue Energy Resources Ltd. reports the execution of a farm-in agreement with Bukit Energy Central Sumatra (Mahato) Pte Ltd. to acquire a 12.5% participating interest in the Mahato production sharing contract (PSC) onshore Central Sumatra, Indonesia, subject to Indonesian Government approval. Bukit will maintain a 25% participating interest in the PSC after the transaction.

The 2,162-square-mile (5,600-square-kilometer) Mahato PSC is located in a highly prospective area in the prolific Central Sumatra Basin close to several producing oil fields, including Indonesia’s largest onshore oil fields; the Minas oil field (over 5 billion barrels) and the Duri oil field (over 3 billion barrels).

The block contains multiple appraisal and exploration drilling opportunities with two wells currently planned for 2015.

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