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The latest update is out from Cue Energy Resources Limited ( (AU:CUE) ).
Cue Energy Resources Limited announced that the New Zealand Government has approved a 10-year extension of the Petroleum Mining Permit for the Maari oilfield, now set to expire in December 2037. This extension allows the Maari Joint Venture to continue its production activities and explore further opportunities for resource optimization and field enhancement. Recent operational improvements have increased production to an average of 5,600 barrels per day, the highest in over five years, highlighting the asset’s value and the joint venture’s effective investment strategy.
More about Cue Energy Resources Limited
Cue Energy Resources Limited is an Australian Securities Exchange (ASX:CUE) listed company based in Melbourne, specializing in oil and gas production and exploration. The company generates revenue from its operations in Indonesia, onshore Australia, and offshore New Zealand, including the Maari field.
Average Trading Volume: 236,496
Technical Sentiment Signal: Buy
Current Market Cap: A$83.89M
Learn more about CUE stock on TipRanks’ Stock Analysis page.