• Cue signs multi-year Gas Sales Agreement with Northern Territory Government
• Up to 3.2 PJ (Cue share) of gas contracted through to 2034 on take-or-pay basis
• Final Investment Decision taken to drill two new wells in Palm Valley field

Cue Energy Resources Limited has announced that it has executed a binding multi-year Gas Sales Agreement (GSA) with the Northern Territory Government. To support the GSA, the Palm Valley Joint Venture will drill two new wells to supply up to 21 PJ of gas (3.2 PJ Cue share) on a firm basis from the second half of 2026 through to the end of 2034. The gas is contracted at a fixed price with CPI escalation and take-or-pay provisions. Following the execution of the GSA, the Palm Valley Joint Venture has taken a Final Investment Decision to drill the two new wells in the Palm Valley field. Preparations for the wells are well-advanced, with key approvals in place or underway, long lead items ordered, a drilling rig contracted and civil works substantially complete. Drilling for the first well is scheduled to commence mid-2026, with production from the new wells expected to be brought online progressively over the second half of 2026. This GSA replaces the previously announced proposed gas supply arrangements with the Northern Territory's Power and Water Corporation, as no agreement was reached on volume and pricing for the Mereenie gas field tranches.

Cue's 1H FY26 revenue was $25.7 million from gas and oil production. The new Gas Sales Agreement is expected to materially increase Cue's contracted gas position, revenues and operational cash flows from its onshore Australia assets through to the end of 2034.

The new Gas Sales Agreement and associated investment in two new Palm Valley wells positions Cue to deliver additional gas supply into the Northern Territory market while supporting near-term cashflow growth.