CUE ENERGY RESOURCES LIMITED — Director's Dealing 2003

Oct 22, 2003

Cue Energy Resources Limited

25th Floor 500 Collins Street Melbourne Victoria 3000 Australia

Telephone: (03) 9629 7577 Facsimile: (03) 9629 7318
Email: mail@cuenrg.com.au Website: www.cuenrg.com.au

9

FACSIMILE TRANSMISSION

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

DATE : 23 October 2003

PAGES (including this page):

FROM: Andrew Knox

RE : Disclosure of Subsequent Director Relevant Interests

Dear Sir

Attached please find Disclosure of Subsequent Director Relevant Interests for the following Directors :-

Ernest Geoffrey Albers Richard Tweedie Ken Hoolihan Leon Musca

Yours faithfully

Andrew M Knox Chief Financial Officer

Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Ernest Geoffrey Albers
Date of Last Disclosure by Director:	8 August 2003
Date of Change:	8 - 23 October 2003
Nature of Relevant Interest: (Provide details of the circumstances giving rise to the Relevant Interest. Details should be provided separately for each circumstance giving rise to a Relevant Interest e.g. details of a trust or arrangement which gives rise to power to exercise votes attached to a security should be detailed separately to circumstances where the director is the beneficial owner of the security. This may involve disclosing a number of different types of circumstances that give rise to a Relevant Interest.).	Direct
Class of Security to which Relevant Interest Relates: (Provide full description of each class of security to which each type of Relevant Interest relates.) No. of Securities Held Prior to Change:	Ordinary fully paid shares Attached
Number of Securities Acquired:	223,900 ordinary shares
Number of Securities Disposed:	1,786,945
No. of Securities Held after Change: (For each circumstance that gives rise to a Relevant Interest e.g. 50,000 as beneficial owner, 50,000 pursuant to Trust Deed.)	Beneficial: Attached. Non Beneficial: Attached.
Consideration Paid or Received for the Acquisition or Disposition: (If consideration is non-cash, provide details and estimated valuation.) Nature of change: (E.g. on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back.)	1,786,945 @ AUD5.8 cents each - received 131,937 @ AUD5.5 cents each - paid 53,106 @ AUD5.5 cents each - paid 38,857 @ AUD5.8 cents each - paid On market trade

STATEMENT OF BENEFICIAL AND RELEVANT INTERESTS

FOR E.G. ALBERS

Summary of Beneficial Relevant Interests	Before Change	After Change	Date of Change	Price
	No. of Shares	No. of Shares
Ernest Geoffrey Albers	4,016,433	4,016,433
Ernest Geoffrey Albers (as Trustee for EG & PJ Albers)
Ernest Geoffrey Albers & Pamela Joy Albers	$H +$	$H^*$
BB Nominees Pty Ltd	1,870,260	2,094,160	21/10/03 22/10/03 23/10/03	AUD 5.5¢ AUD $5.86$ AUD 5.8¢
Sacrosanct Pty Ltd
(Superannuation Fund A/c)	1,250,000	1,250,000
TOTAL	7,136,693	7,360,593

Summary of Other Relevant Interests	Before Change	After Change	Date of Change	Price
	No. of Shares	No. of Shares
Browse Petroleum Pty Ltd	1,786,945	H÷	$8 - 23/10/03$	AUD 5.8¢ each
Octanex NL	25,220,000	25,220,000
Octanex NL (a/c Octanex
Operations Pty Ltd)	11,160,140	11,160,140
Great Missenden Holdings
Pty Ltd	2,405,214	2,405,214
TOTAL	40,572,299	38,785,354

TOTAL 47,708,992 46,145,947

Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Ken Hoolihan
Date of Last Disclosure by Director:	3 July 2003
Date of Change:	21, 22 & 23 October 2003
Nature of Relevant Interest: (Provide details of the circumstances giving rise to the Relevant Interest. Details should be provided separately for each circumstance giving rise to a Relevant Interest e.g. details of a trust or arrangement which gives rise to power to exercise votes attached to a security should be detailed separately to circumstances where the director is the beneficial owner of the security. This may involve disclosing a number of different types of circumstances that give rise to a Relevant Interest.).	Direct
Class of Security to which Relevant Interest Relates: (Provide full description of each class of security to which each type of Relevant Interest relates.) No. of Securities Held Prior to Change:	Ordinary fully paid shares 979,849 Ordinary fully paid shares -- Beneficial in the name of BB Nominees Pty Ltd
	18,150,000 Ordinary fully paid shares - Non Beneficial on the name of Todd Petroleum Mining Company Limited 15,000,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Number of Securities Acquired:	111,950 ordinary shares
Number of Securities Disposed:
No. of Securities Held after Change: (For each circumstance that gives rise to a Relevant Interest e.g. 50,000 as beneficial owner, 50,000 pursuant to Trust Deed.)	Beneficial: 1,091,799 Ordinary fully paid shares -- Beneficial in the name of BB Nominees Pty Ltd
	Non Beneficial: 18,150,000 Ordinary fully paid shares - Non Beneficial on the name of Todd Petroleum Mining Company Limited 15,000,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Consideration Paid or Received for the Acquisition or Disposition: (If consideration is non-cash, provide details and estimated valuation.)	65,968 @ AUD5.5 cents each 21/10/03 26,553 @ AUD5.5 cents each 22/10/03 19,429 @ AUD5.8 cents each 23/10/03

Nature of change: (E.g. on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment	On market trade
plan, participation in buy-back.)

Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Richard Tweedie
Date of Last Disclosure by Director:	3 July 2003
Date of Change:	21, 22 & 23 October 2003
Nature of Relevant Interest: (Provide details of the circumstances giving rise to the Relevant Interest. Details should be provided separately for each circumstance giving rise to a Relevant Interest e.g. details of a trust or arrangement which gives rise to power to exercise votes attached to a security should be detailed separately to circumstances where the director is the beneficial owner of the security. This may involve disclosing a number of different types of circumstances that give rise to a Relevant Interest.).	Direct
Class of Security to which Relevant Interest Relates: (Provide full description of each class of security to which each type of Relevant Interest relates.) No. of Securities Held Prior to Change:	Ordinary fully paid shares 488,530 Ordinary fully paid shares - Beneficial in the name of R Tweedie Super Fund
	979,848 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd 18,150,000 Ordinary fully paid shares - Non Beneficial on the name of Todd Petroleum Mining Company Limited 15,000,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Number of Securities Acquired:	111,950 ordinary shares
Number of Securities Disposed:
No. of Securities Held after Change: (For each circumstance that gives rise to a Relevant Interest e.g. 50,000 as beneficial owner, 50,000 pursuant to Trust Deed.)	Beneficial: 488,530 Ordinary fully paid shares - Beneficial in the name of R Tweedie Super Fund 1,091,798 Ordinary fully paid shares -- Beneficial in the name of BB Nominees Pty Ltd
	Non Beneficial: 18,150,000 Ordinary fully paid shares - Non Beneficial on the name of Todd Petroleum Mining Company Limited 15,000,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Consideration Paid or Received for the Acquisition or Disposition: (If consideration is non-cash, provide details and estimated valuation.)	65,968 @ AUD5.5 cents each - 21/10/03 26,553 @ AUD5.5 cents each - 22/10/03 19,429 @ AUD5.8 cents each - 23/10/03

Nature of change: (E.g. on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment	On market trade
plan, participation in buy-back.)

Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Leon Musca
Date of Last Disclosure by Director:	3 July 2003
Date of Change:	21, 22 & 23 October 2003
Nature of Relevant Interest: (Provide details of the circumstances giving rise to the Relevant Interest. Details should be provided separately for each circumstance giving rise to a Relevant Interest e.g. details of a trust or arrangement which gives rise to power to exercise votes attached to a security should be detailed separately to circumstances where the director is the beneficial owner of the security. This may involve disclosing a number of different types of circumstances that give rise to a Relevant Interest.).	Direct
Class of Security to which Relevant Interest Relates: (Provide full description of each class of security to which each type of Relevant Interest relates.)	Ordinary fully paid shares
No. of Securities Held Prior to Change:	149,087 Ordinary fully paid shares - Beneficial in the name of Leon Nominees 10,737,130 Ordinary full paid shares - Beneficial in the name of Portfolio Securities Pty Ltd 771,525 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd
Number of Securities Acquired:	111,950 ordinary shares
Number of Securities Disposed:
No. of Securities Held after Change: (For each circumstance that gives rise to a Relevant Interest e.g. 50,000 as beneficial owner, 50,000 pursuant to Trust Deed.)	Beneficial: 149,087 Ordinary fully paid shares - Beneficial in the name of Leon Nominees 10,737,130 Ordinary full paid shares - Beneficial in the name of Portfolio Securities Pty Ltd 883,475 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd Non Beneficial:
Consideration Paid or Received for the Acquisition or Disposition: (If consideration is non-cash, provide details and estimated valuation.)	65,968 @ AUD5.5 cents each - 21/10/03 26,553 @ AUD5.5 cents each - 22/10/03 19,429 @ AUD5.8 cents each - 23/10/03

Nature of change: (E.g. on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment	On market trade
plan, participation in buy-back.)