Appendix 4D and Half Year Report

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Stock CUE Energy Resources Ltd (CUE.ASX)
Release Time 25 Feb 2025, 11:47 a.m.
Price Sensitive Yes
 Cue Energy Resources Ltd reports H1 FY2025 results
Key Points
  • 1 cent per share interim dividend declared, returning $7 million to shareholders
  • Cash increased by 5% to $17.1 million due to strong cash generation
  • Production assets continue to deliver strong performance, generating $27.1 million in revenue
Full Summary

Cue Energy Resources Ltd reported its H1 FY2025 financial results, with a 52.2% decline in profit to $4.34 million, impacted by lower revenue in the Sampang and Australia Onshore assets, higher production costs and cost-recoverable tax charges in Mahato, and an unplanned workover and general cost increases at Maari. Production revenue for the period was $27.1 million, a decrease of $2.2 million from H1 FY2024. The company's EBITDAX for the period was $15.21 million, down from $19.29 million in the prior corresponding period. Cue's cash and cash equivalents increased by 5% to $17.1 million during the period. The company declared a 1 cent per share interim dividend, returning an additional $7 million to shareholders. Cue's production assets continue to deliver strong performance, with the Australia Onshore, Mahato, Maari and Sampang assets all contributing to revenue. The company also made progress on its growth projects, with the Paus Biru development advancing towards FID, ongoing development drilling at Mahato, and further onshore Australia drilling.

Outlook

Cue Energy Resources Ltd is focused on progressing its growth projects, including the Paus Biru development, ongoing development drilling at Mahato, and further onshore Australia drilling. The company is also working to secure an extension of the Sampang Production Sharing Contract and amendments to facilitate the Paus Biru project.