CUE ENERGY RESOURCES LIMITED — Director's Dealing 2003

Jul 2, 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

FACSIMILE TRANSMISSION

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

FAX: DD#0

DATE : 3 July 2003

PAGES (including this page): 10

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:	30 May 2003
Date of Change:	3 July 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:	Attached
Number of Securities Acquired:	894,280
Number of Securities Disposed:	655,214
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.)	239,066 @ AUD 5.2 cents each 655,214 @ AUD 4.0 cents each

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.)	On market trade
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STATEMENT OF BENEFICIAL AND RELEVANT INTERESTS

Summary of Beneficial Relevant Interests	Before Change	After Change	Date of Change	Price
	No. of	No. of
	Shares	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	655,214		24/06/03	AUD 4.0¢ each
BB Nominees Pty Ltd	1,631,194	1,870,260
Sacrosanct Pty Ltd (Superannuation Fund $A/c$ )	1,250,000	1,250,000
TOTAL	7,552,841	7,136,693

FOR E.G. ALBERS

Summary of Other Relevant	Before	After	Date of	Price
Interests	Change	Change	Change
	No. of	No. of
	Shares	Shares
Browse Petroleum Pty Ltd	3,700,000	3,700,000	03/07/03	AUD 5.2¢ 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				AUD 4.0¢ each
Pty Ltd		655,214	24/06/03
TOTAL	40,080,140	40,735,354

TOTAL 47,632,981 47,872,047

Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Ken Hoolihan
Date of Last Disclosure by Director:	2 April 2003
Date of Change:	3 July 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 860,316 Ordinary fully paid shares - Beneficial in the name of BB
No. of Securities Held Prior to Change:	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:	119,533 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: 979,849 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.)	119,533 @ AUD5.2 cents each

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.)	On market trade
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Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Richard Tweedie
Date of Last Disclosure by Director:	2 April 2003
Date of Change:	3 July 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.). Class of Security to which Relevant Interest	Direct Ordinary fully paid shares
Relates: (Provide full description of each class of security to which each type of Relevant Interest relates.)
No. of Securities Held Prior to Change:	488,530 Ordinary fully paid shares - Beneficial in the name of R Tweedie Super Fund 860,315 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:	119,533 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 979,848 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.)	119,533 @ AUD5.2 cents each

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.)	On market trade
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Name of Listed Issuer:	Cue Energy Resources Limited
Name of Director:	Leon Musca
Date of Last Disclosure by Director:	2 April 2003
Date of Change:	3 July 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 651,992 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd
Number of Securities Acquired:	119,533 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 771,525 Ordinary fully paid shares - Beneficial in the name of BB Nominees Ptv Ltd Non Beneficial:
Consideration Paid or Received for the Acquisition or Disposition: (If consideration is non-cash, provide details and estimated valuation.)	119,533 @ AUD5.2 cents each

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.)	On market trade
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