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A 4 year extension to the exploration phase of the Mahakam Hilir PSC was received during the Apr- Jun 2016 quarter. The extension includes 2 contingent wells in the first 2 years, which Cue can elect to drill or withdraw from the PSC.
Analysis of the Naga Selatan-2 discovery is continuing and several data collection initiatives are underway to fully assess the results. These include: airborne gravity data, high resolution topographic relief (LIDAR) data, extensive field mapping and shallow coring. This information will assist in making new resource assessment estimates and planning for any future appraisal of NS-2.
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