Cue Energy Resources (ASX: CUE), a subsidiary of New Zealand Oil & Gas, has undertaken a review of the reserves and recoverable volumes in the Mahato PSC as of 1 January 2022.
This follows the successful drilling of 8 production wells and the field producing at a rate of 5,500 barrels of oil per day.
The update shows an increase in the company's 1P Total reserves from 12.9mmboe to 13.0mmboe.
The CEO of the company has expressed optimism in continuing to build value through the drill-bit.
See more
