Mahato PSC Update - Oil Production

Posted on 15 January 2021

New Zealand Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), has provided an update that commercial production of oil has commenced from the PB field in the Mahato PSC in Indonesia and the dispute between Cue and the Joint Venture partners has been settled. 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.