CUE ENERGY RESOURCES LIMITED — Capital/Financing Update 2021

Jul 1, 2021

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2 July 2021

FIRB NO OBJECTION NOTICE RECEIVED FOR AMADEUS BASIN TRANSACTION

New Zealand Oil & Gas and Cue Energy Resources have received a No Objection Notice from the Australian Foreign Investment Review Board in relation to the transaction to acquire Amadeus Basin Assets from Central Petroleum. This satisfies a key condition precedent of the transaction.

The transaction was announced on 25 May 2021 and has an effective economic date of 1 July 2020.

Last week New Zealand Oil & Gas shareholders voted 99.99% in favour of the transaction which satisfied another key condition precedent. Conditions remaining to be satisfied include regulatory and other third party approvals.

For further information please contact the Company on: email enquiries@nzog.com phone +64 4 495 2424