CENTRAL PETROLEUM LIMITED — Capital/Financing Update 2025

Apr 15, 2025

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16 April 2025

Arafura Gas Supply Agreement Update

Cue Energy Resources Limited (ASX:CUE) refers to its announcement dated 3 February 2025 and advises that the existing conditional gas supply agreement (GSA) for Arafura’s Nolans rare earths project has lapsed due to the condition precedent of Arafura’s final investment decision for the Nolans project not being satisfied.

The Mereenie Joint Venture partners committed to the three-year sale in advance of the agreed 1 January 2028 commencement date and have previously provided a nine-month extension for Arafura to satisfy the condition precedent. The Joint Venture will now market this volume of firm gas production commencing in 2028 to other customers throughout the Northern Territory and East Coast.

CUE has a 7.5% interest in the Mereenie Joint Venture. The other participants are Echelon Resource Limited (ASX:ECH) (42.5%), Horizon Oil Limited (ASX:HZN) (25%), Central Petroleum Limited (Operator) (ASX:CTP) (25%).

Authorised by Matthew Boyall, CEO

Any queries regarding this announcement should be directed to the Company on +61 3 8610 4000 or email mail@cuenrg.com.au.

General Legal Disclaimer

Various statements in this document may constitute statements relating to intentions, opinion, expectations, present and future operations, possible future events and future financial prospects. Such statements are not statements of fact, and are generally classified as forward looking statements that involve unknown risks, expectations, uncertainties, variables, changes and other important factors that could cause those future matters to differ from the way or manner in which they are expressly or impliedly portrayed in this document. Some of the more important of these risks, expectations, uncertainties, variables, changes and other factors are pricing and production levels from the properties in which the Company has interests, or will acquire interests, and the extent of the recoverable reserves at those properties. In addition, the Company has a number of exploration permits. Exploration for oil and gas is expensive, speculative and subject to a wide range of risks.

Individual investors should consider these matters in light of their personal circumstances (including financial and taxation affairs) and seek professional advice from their accountant, lawyer or other professional adviser as to the suitability for them of an investment in the Company.

Except as required by applicable law or the ASX Listing Rules, the Company does not make any representation or warranty, express or implied, as to the fairness, accuracy, completeness, correctness, likelihood of achievement or reasonableness of the information contained in this document, and disclaims any obligation or undertaking to publicly update any forward-looking statement or future financial prospects resulting from future events or new information. To the maximum extent permitted by law, none of the Company or its agents, directors, officers, employees, advisors and consultants, nor any other person, accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of the information contained in this document.

Reference to “CUE” or “the Company” may be references to Cue Energy Resources Limited or its applicable subsidiaries

About Cue Energy

Cue Energy Resources Limited is an Australian Securities Exchange (ASX:CUE) listed oil and gas production and exploration company based in Melbourne. Cue’s FY2024 revenue was $49.7 million from gas and oil production from the Mahato and Sampang PSCs, Indonesia and Mereenie, Palm Valley and Dingo fields, onshore Australia, and the Maari field, offshore New Zealand. https://www.cuenrg.com.au

www.cuenrg.com.au