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Business Description: Cue Energy Resources Limited (CUE) is an oil and gas exploration, development and production company with petroleum assets located in Papua New Guinea, Indonesia, New Zealand and Australia.
Strategy Analysis: CUE's strategy is to grow through the acquisition of exploration areas and producing assets and participating in exploration and appraisal drilling. The company also aims to maintain a lean, cost effective organisation. CUE's production comes from the SE Gobe oil field in PNG and the Oyong field in Indonesia. Cue is also involved in the development of the Maari oil field in New Zealand which, from 13 October 2010, has been producing oil.
Cue Energy Resources reported NPAT down 18.1% to $3.22m for the half-year ended 31 December 2012. Revenues from ordinary activities were $28.47m, up 41.4% from last year. Basic and Diluted EPS were 0.46 cents compared to 0.57 cents last year. Net operating cash flow was $17.45m compared to $10.77m last year. No dividend was declared.
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