30 June 2023 As at June 30, 2023 Cue has reported 4.6 million barrels of oil equivalent (mmboe) of proven (1P) reserves and 6.3 mmboe of Proven and Probable (2P) reserves. 68% of reported 2P reserves are gas and 32% are oil. 2P Reserves in the Palm Valley field have been reviewed and increased during the year based on the successful drilling and flow performance of the PV-12 well, which started production in December 2022. Dingo field 2P reserves have increased as a result of ongoing strong performance from the existing wells and additional field modelling work undertaken. Cue’s 2P reserve replacement ratio for FY2023 is 105%, taking into account reserves additions and production during the year. Reserves and resources 2P reserve by Asset (mmboe) Mahato 1.4 Sampang PSC 0.8 Mereenie 2.0 Palm Valley 0.6 Maari 0.5 Dingo 1.0 6.3 mmboe Gas/Oil reserves (mmboe) Oil 2.0 Gas 4.3 6.3 mmboe 13 Cue Energy Resources Limited Annual Report 2023
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