Grant Samuel report 'materially overstates' Cue Energy value, says Woodward

Tue, 10 Mar 2015

By Pattrick Smellie March 10 (BusinessDesk) - A report being used by Cue Energy Resources to fend off a takeover bid from New Zealand Oil & Gas `materially overstates' the target company's value, says Wellington-based Woodward Partners in a report for clients by its oil and gas specialist, John Kidd. Where Australian investment house Grant Samuel values Melbourne-based Cue at between 11.5 Australian cents and 15 Australian cents a share in its independent expert report to the Cue board, Kidd effectively suggests NZOG is paying a premium i...

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