Ironbark-1 Plug and Abandon complete

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    The Ocean Apex drilling rig has completed its work scope to plug and abandon the Ironbark1 well and departed the well location at midnight Monday 11th January 2021(AWST).
    Cue CEO Matthew Boyall commented on the well and Cue’s ongoing business:
    “The results of the Ironbark-1 well were disappointing, but we thank BP, the operator of the
    permit, for their safe and professional execution of the drilling operations.
    Cue has a strong underlying business with 2 projects currently in the development phase in
    addition to the continuing revenue from the Maari and Sampang projects.
    With cash reserves available, Cue continues to look for new, value adding opportunities.”
    The WA-359-P Joint Venture participating interests are:
    BP (operator) 42.5%
    Cue 21.5%
    Beach Energy 21%
    New Zealand Oil & Gas 15%
    This announcement has been authorised by Matthew Boyall, CEO

    courtesy of Bell Direct
    ================================================================================================

    DYOR

    i hold BPT ( 'free-carried ')

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