Mahato PSC Update – Development Update

Posted on 28 April 2021

New Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has provided an update that the PB-5 development well in the Mahato PSC has recently been successfully drilled and tested at a gross rate of approximately 1000 barrels of oil per day (bopd). The well has been completed as an oil producer and connected to the production system. The update release is attached.
Cue has a 12.5% interest in the Mahato PSC. New Zealand Oil & Gas has a 50.04% interest in Cue.