CUE ENERGY RESOURCES LIMITED — Capital/Financing Update 2013

Feb 3, 2013

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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

CUE ENERGY DIRECTORS

Jack-up rig ENSCO 107 to drill at Maari

• Geoffrey King (Chairman)

• Timothy Dibb

• Steve Koroknay

• Paul Moore

• Andrew Young

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

• Richard Tweedie

CUE ENERGY MANAGEMENT

• Andrew Knox (CFO)

Yours faithfully

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Andrew M Knox Chief Financial Officer

• David Whittam (Exp Man)

OFFICE

Level 21 114 William Street Melbourne Vic 3000

CONTACT DETAILS

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

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A.B.N. 45 066 383 971

RELEASE

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

Jack-up rig ENSCO 107 to drill at Maari

• Jack-up rig secured to tap undeveloped Maari reserves

• • Multi-well campaign expected to start in Fourth Quarter 2013

Cue is pleased to report that, on behalf of the Maari Joint Venture partners, the jack-up rig ENSCO 107 has been contracted by OMV New Zealand to complete a planned multi-well drilling campaign at the Maari Field. Significant undeveloped reserves remain at Maari and Manaia and additional drilling and enhancement of the water injection system will provide for the extraction of these reserves and increase production rates.

The rig is expected to arrive on site in the offshore Taranaki Basin during the 4th quarter of 2013, with the exact start date of drilling operations dependent on when the rig is available following its prior assignment. The Maari programme is expected to last nine months with the option to extend.

Securing the ENSCO 107 is a major step in the Joint Venture’s plans to further develop the Maari Field.

The multi-well programme at Maari will run in parallel to a drilling programme using the semi- submersible rig Kan Tan IV that was announced late last year. That programme includes a Manaia appraisal well and an exploration well on the Whio prospect in permit PEP 51313. Under the terms of a farm-in agreement concluded in November 2012, OMV will fully carry Cue through the drilling, evaluation and completion of the Whio well. If successful this well will also be produced through the Maari facilities.

Participants in PMP 38160 are:

Cue Taranaki Pty Ltd 5% Horizon Oil International Ltd 10% Todd Maari Ltd 16% OMV New Zealand Ltd 69% (Operator)

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Ensco 107 during previous Maari drilling campaign

Any queries regarding the announcement should be directed to the Company on (03) 96708668 or email mail@cuenrg.com.au.

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Andrew A. Young Executive Director

4 February 2013