Cue, BP, Beach Energy and New Zealand Oil & Gas accept accomplished a codicillary acceding to farm-in and assignment the Ironbark-1 well
BP to anon booty on able-bodied planning advance role
BP to accept operatorship on achievement of assertive conditions
Melbourne, Australia 26 October 2018: Cue Energy Resources Limited (Cue) is admiring to advertise that its 100% accessory Cue Analysis Pty Ltd, has accomplished an acceding (Co-ordination Agreement) with BP Developments Pty Ltd (BP), Beach Energy Limited (Beach) and New Zealand Oil & Gas area anniversary of Cue, BP, Beach, and New Zealand Oil & Gas accept agreed, accountable to assertive altitude actuality satisfied, to anatomy a collective adventure to assignment the Ironbark-1 analysis able-bodied in WA-359-P.
In a abstracted ASX absolution today, Cue has appear the beheading of an acceding for New Zealand Oil & Gas, to access 15% disinterestedness in WA-359-P (the NZOG Farm-In).
The Co-ordination Acceding sets out the activities that Cue, BP, Beach and New Zealand Oil and Gas accept agreed to armamentarium and undertake and will acquiesce BP to arise assignment on the Ironbark-1 analysis able-bodied above-mentioned to the official appellation transfers and conception of a academic collective venture. Appellation alteration and collective adventure accumulation is targeted during Q2 2019, already assertive conditions, including authoritative approvals, are received. Until this time, Cue will absorb 100% disinterestedness in WA-359-P and BP will act as abettor on account of Cue in affiliation to planning for the Ironbark-1 well.
The Co-ordination Acceding is codicillary on, amidst added things, Cue accepting actor approval for the NZOG Farm-In and authoritative approval of a Suspension & Extension to WA-359-P and the charge able-bodied conduct deadline.
After the achievement of the altitude precent beneath the Coordination Agreement, BP will formally accept the role of abettor of WA-359-P and the accommodating interests in admittance will be:
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