Cue share offer to fund Jeruk clawback

TO fund Cue Energy Resources 's reinstatement of its 15% interest in the major Jeruk oil discovery, the company will make a renounceable pro-rata entitlement offer to eligible shareholders of one new share for every five existing shares at 20 cents for each new share.
Cue share offer to fund Jeruk clawback Cue share offer to fund Jeruk clawback Cue share offer to fund Jeruk clawback Cue share offer to fund Jeruk clawback Cue share offer to fund Jeruk clawback

The funds raised will be used to fund Cue's reinstatement of its 15% interest in the promising Jeruk oil discovery in the Sampang Production Sharing Contract area, offshore East Java, Indonesia and to fund Cue's share of the estimated cost of the Jeruk -2 re-entry, sidetrack, coring and testing program.

The offer has been unconditionally underwritten by Todd Petroleum Mining Company Ltd (80%), a company associated with Cue directors R Tweedie and K Hoolihan, and Great Missenden Holdings Pty Ltd (20%), a company associated with Cue director EG Albers.

The pro-rata rights offer of 87,088,751 million shares will raise A$17.3 million (less fees). A prospectus for the offer will be soon sent to shareholders.

loader