Cue Energy Resources : General Meeting - CEO Presentation

About this update from Cue Energy Resources Limited

CUE ENERGY RESOURCES LIMITED ASX:CUE General Meeting of Shareholders 28 July 2021 Disclaimer and Important Notice Various statements in this document constitute statements relating to intentions, opinion, expectations, present and future operations, possible future events and future financial prospects. Such statements are not statements of fact, and are generally classified as forward looking statements that involve unknown risks, expectations, uncertainties, variables, changes and other important factors that could cause those future matters to differ from the way or manner in which they are expressly or impliedly portrayed in this document. Some of the more important of these risks, expectations, uncertainties, variables, changes and other factors are pricing and production levels from the properties in which the Company has interests, or will acquire interests, and the extent of the recoverable reserves at those properties. In addition, the Company has a number of exploration permits. Exploration for oil and gas is expensive, speculative and subject to a wide range of risks. Individual investors should consider these matters in light of their personal circumstances (including financial and taxation affairs) and seek professional advice from their accountant, lawyer or other professional adviser as to the suitability for them of an investment in the Company. Except as required by applicable law or the ASX Listing Rules, the Company does not make any representation or warranty, express or implied, as to the fairness, accuracy, completeness, correctness, likelihood of achievement or reasonableness of the information contained in this document, and disclaims any obligation or undertaking to publicly update any forward-looking statement or future financial prospects resulting from future events or new information. To the maximum extent permitted by law, none of the Company or its agents, directors, officers, employees, advisors and consultants, nor any other person, accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of the information contained in this document. Reference to "CUE" or "the Company" may be references to Cue Energy Resources Limited or its applicable subsidiaries. 2 Amadeus Basin Asset Acquisition Onshore Northern Territory Cue to acquire interests in Mereenie, Palm Valley and Dingo onshore gas and oil fields from Central Petroleum located in the Amadeus Basin, Northern Territory, Australia Each asset is currently in production with development and/or exploration plans Acquisition cost of A$8.7m upfront and carry of Central's development and exploration costs capped at A$12m. Effective date 1 July 2020 with adjustments at completion Cue is funded from existing cash and future cashflows Assets will provide a fourth revenue source for Cue (Maari oil, Sampang gas, Mahato oil ) Mereenie, Palm Valley, Dingo Location. Source: Central Petroleum 3 Gas and oil Production Assets Development and Exploration upside • Each asset is currently in production with development/ exploration plans • Immediate development from Mereenie recompletions and infill wells WM27 and WM28 • Palm Valley and Dingo Deep exploration wells can also be completed in shallower producing horizons if exploration unsuccessful Meerenie field re-completions and drilling . Source Central Petroleum Mereenie (gas & oil) Palm Valley (gas) Dingo (gas) Production 49 Producing wells with 54 4 producing wells with 2 producing wells with 5.5 TJ/d capacity. Production pre 15TJ/d capacity TJ/d capacity re-completions and drilling ~30TJ/d Development Plans 4 well recompletions Up to 3 infill development 2 infill development wells 2 Infill Development wells wells (WM27/ WM28) Exploration Plans Palm Valley Deep Dingo Deep 4 Acquisition of reserves >350% increase in Cue 2P reserves* mmboe 7 6 5 4 3 2 1 0 Cue Energy Resources Reserves 1P 2P 2C 30-Jun-20 Amadeus Addition * Subject to transaction completion Sources: ASX release 25 May 2021 "Acquisition of Australian production Assets" 5 Cue Energy Resources Limited Annual Report FY2020

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