Mereenie development well WM30 completed

Cue Energy announced that drilling and completion of the second new Mereenie production well, West Mereenie 30 (WM30) in the Northern Territory of Australia, is complete.

WM30 was successfully air-drilled through the primary Pacoota-3 reservoir target to a total measured depth of 1,620 m. Tie-in of WM30 to the Mereenie production facilities is expected to be completed in early March.

The Ventia Rig 101 has been released following the completion of both Mereenie production wells WM29 and WM30. The two-well drilling program was delivered to an accelerated schedule and is forecast to be completed under budget.

The first well drilled in the two-well program, WM29, is online at a stabilized production rate of approximately 5 TJ/d (100% JV). A tied-in flow rate for WM30 will be advised once the well is online.

CUE has a 7.5% interest in the Mereenie Joint Venture. The other participants are Echelon Resource (42.5%), Horizon Oil Limited (25%) and Central Petroleum Limited (Operator, 25%).