Cue Energy Resources Limited (ASX: CUE) is pleased to announce that the Operator of its Mereenie gas field onshore Australia, Central Petroleum Limited (ASX: CTP), has advised that the WM29 development well was successfully air-drilled and completed across the Pacoota-3 sandstones. The well is currently suspended and is expected to be tied-in to the gathering system by late January.
WM30, the second development well in the 2 well programme, was subsequently spudded on 16 January 2025.
The Mereenie development wells are expected to return field production capacity back above 30 TJ/d (100% JV). Firm gas from the new wells may be sold into the recently executed
Northern Territory Government Gas Sales Agreement, which can be expanded by up to 6 TJ/d (100% JV) following successful completion of the wells.
CUE has a 7.5% interest in the Mereenie Joint Venture. The other participants are Echelon Mereenie Pty Ltd (42.5%), Horizon Australia Energy Pty Ltd (25%), Central Petroleum
Mereenie Pty Ltd (Operator) (25%). Authorised by Matthew Boyall, CEO