Page 165 - Jan 2013

January 2013 | Business World Magazine | 165
Cue Energy Resources Limited is an oil and
gas exploration and production company
that focuses its efforts on the geographical
areas of SE Asia and Australasia. Cue has
developed a portfolio of petroleum assets
through both exploration and acquisition.
The company has a solid base of produc-
ing assets in Papua New Guinea, Indonesia
and New Zealand and has a number of high
quality exploration assets in Australia and
New Zealand. The company has a very solid
platform for growth, and that growth will
be facilitated by a significant net positive
cash flow stream from its producing assets.
This solid platform distinguishes Cue from
its small to mid cap peers on the Australian
Stock Exchange. With over 12 projects on
the go, Cue Energy holds anywhere from a
5 to 40 per cent stake in the development of
each project, and is seeking to cut its teeth
as an operator of oil and gas projects.
CHANGING DIRECTIONS
CEO of Cue Energy Mark Paton is very ex-
cited about the future of the company and
is enthusiastic about recent developments.
He has recently been appointed to his po-
sition, but his long career in the industry
has made him a perfect fit for the compa-
ny’s present and future. “I graduated from
the University of Leeds with a First Class
Honours Degree in Chemical Engineering
in 1980, and I immediately joined the in-
dustry with BP in the North Sea.” He says
that it was a great time to enter the indus-
try because the whole industry was boom-
ing. “Oil reached a high of $39.34 a barrel
within a fewweeks of my arrival on a Forties
platform,” he says. “In 1980 a lot of petro-
leum engineers were recruited at the same
time as me, and we all received extremely
good training.” This training proved to be
a major boon to his future career and his