Ironbark-1 Plug and Abandon complete
Thursday 14 January 2021
The Ocean Apex drilling rig has completed its work scope to plug and abandon the Ironbark1 well and departed the well location at midnight Monday 11th January 2021(AWST).
Cue CEO Matthew Boyall commented on the well and Cue’s ongoing business:
“The results of the Ironbark-1 well were disappointing, but we thank BP, the operator of the permit, for their safe and professional execution of the drilling operations.
Cue has a strong underlying business with 2 projects currently in the development phase in addition to the continuing revenue from the Maari and Sampang projects.
With cash reserves available, Cue continues to look for new, value adding opportunities.”