matuku update, page-5

Cue Energy Resources Ltd (Cue) advises that the Manaia-2 well spud at 19:30 hours local
time on 1 September. Manaia-2 is located in PMP 38160 in the offshore Taranaki Basin. The
well is operated by OMV New Zealand Ltd and is being drilled from the semi-submersible
drilling rig ‘Kan Tan IV’.
The well is located 1.25 km north of Maui-4 (which discovered the Manaia field) and 6 km to
the southwest of the Maari Field well head platform. The well has a planned total depth of
2,850m and drilling is expected to take about 30 days. The undeveloped Moki and Farewell
Formation reservoirs that will be appraised by Manaia-2 have the potential to add 11 million
barrels of gross reserves to the Manaia field.