Cash increases despite Maari cracks

NEW Zealand Oil & Gas-controlled Cue Energy Resources cut overheads and expenses last quarter, boosting its cash balance despite an extended safety shutdown at its Maari field in the Taranaki Basin.

 Cash increases despite Maari cracks  Cash increases despite Maari cracks  Cash increases despite Maari cracks  Cash increases despite Maari cracks  Cash increases despite Maari cracks
The debt-free business, which is now 50.1% owned by NZOG, increased its cash to more than $22 million, thanks to net production of 133,832 barrels of oil equivalent.