BHP Group Limited — Capital/Financing Update 2012

Jun 12, 2012

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A.B.N. 45 066 383 971

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CUE ENERGY OVERVIEW

Company Announcements Office 10th Floor 20 Bond Street Sydney NSW 2000

Cue is an Australian based oil & gas company with projects in Australia, New Zealand, Indonesia and PNG.

THE COMPANY HAS:

• Long life production

• A strong balance sheet

• An active exploration program

DRILLING PROGRAM

Banambu Deep-1 Well Drilling Update, WA-389-P

• Naga Utara exp well Q1 12

• Naga Selatan exp well Q2 12

• WA-389-P exp well Q2 12

• Maari appraisal well Q4 12

Attached please find Cue Energy Resources Limited release with respect to the above mentioned.

CUE ENERGY DIRECTORS

• Richard Tweedie (Chairman)

• Timothy Dibb

• Geoffrey King

• Steve Koroknay

• Paul Moore

• Leon Musca

• Andrew Young

Yours faithfully

CUE ENERGY MANAGEMENT

• Mark Paton (CEO)

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Andrew M Knox

• Andrew Knox (CFO)

• David Whittam (Exp Man)

• Alex Parks (CCO)

OFFICE

Level 21 114 William Street Melbourne Vic 3000

CONTACT DETAILS

Public Officer

Tel: +61 3 9670 8668 Fax: +61 3 9670 8661

EMAIL

mail@cuenrg.com.au

WEBSITE

www.cuenrg.com.au

LISTINGS

ASX: CUE NZX: CUE POMSOX: CUE ADR/OTCQX: CUEYY

00/SP/PC02/FM01 – Rev 0

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A.B.N. 45 066 383 971

RELEASE

(ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY)

Banambu Deep-1 Well Drilling Update, WA-389-P

Cue Energy Resources Limited (ASX Code: CUE) provides the following update on the Banambu Deep exploration well in permit WA-389-P offshore Carnarvon Basin, Western Australia.

Progress

The operator has advised that current operations at 06:00hrs 13th June 2012 is pulling out of hole to change the bottom hole assembly (BHA) after drilling 311mm (12 ¼”) hole to a depth of 2573mMD. Since the last report the 445mm (17 ½”) hole was drilled to a depth of 2570mMD after which 340mm (13

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3/8”) casing was run and cemented, with the shoe set at 2563.6mMD. The blow-out preventer (BOP) was installed and tested prior to running in hole with a 311mm (12 ¼”) drilling assembly to drill and clean out cement to 2573mMD and perform a leak-off test.

Forward Plan

Run in hole with new BHA and continue drilling the 311mm (12 ¼”) hole section to the planned intermediate casing point at 4155mMD.

Figure 1: Location of Banambu Deep Prospect

Location / Proposed Depth

The Banambu Deep well is located in permit WA-389-P, in the Carnarvon Basin, Western Australia (Figure 1). The well is being drilled in 320m of water to a planned total depth of approximately 4712mMD in the primary Intra Mungaroo Formation target.

Upon completion of evaluation, the well will be plugged and abandoned in the normal course of offshore operations.

Cue will release reports of well progress initially on a weekly basis.

Participants

Following various JV and government approvals of the recent farm in transaction with BHP Billiton the participants and their respective interests in the permit will be:

Woodside Burrup Pty Ltd (Operator)	25%
Cue Exploration Pty Ltd	35%
BHP Billiton (Australia) Pty Ltd	40%

Explanatory note: All measurements are expressed in metres measured depth from the Rotary Table (mMD)

Any queries regarding the announcement should be directed to the Company on (03) 9670 8668 or email mail@cuenrg.com.au

Mark Paton Chief Executive Officer

13 June 2012