CUE ENERGY RESOURCES LIMITED — Director's Dealing 2007

May 7, 2007

Cue Energy Resources Limited

Level 21 114 William Street Melbourne Victoria 3000 Australia

Telephone: (03) 9670 8668 Facsimile: (03) 9670 8661 Email: mail@cuenrg.com.au Website: www.cuenrg.com.au

TO₁ : Company Announcements Office 10th Floor 20 Bond Street Sydney NSW 2000 DATE : 8 May 2007

PAGES (including this page): 13

• FROM: Andrew Knox
• RE : Appendix 3Y

Attached please find the Change of Director's Interest Notice for the following Directors :-

Richard Tweedie Ernest Geoffrey Albers Kenneth Hoolihan Leon Musca

Yours faithfully

Andrew M Knox Public Officer

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity: Cue Energy Resources
ABN : 45 066 383 971

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Richard Tweedie
Date of last notice	7 February 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct
Nature of indirect interest	BB Nominees Pty Ltd
(including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	7 May 2007
No. of securities held prior to change	Beneficial:
	1,972,036 Ordinary fully paid shares - Beneficial
	in the name of R Tweedie Super Fund
	191,121 Ordinary fully paid shares - Beneficial
	in the name of BB Nominees Pty Ltd Non Beneficial:
	135,919,429 Ordinary fully paid shares - Non Beneficial in the name of Todd Petroleum
	Mining Company Limited
	21,600,000 Ordinary fully paid shares - Non
	Beneficial in the name of Todd Tasman Oil Ltd
Class	Ordinary fully paid shares
Number acquired	80,204
Number disposed	NIL

⁺ See chapter 19 for defined terms.

Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	80,204 @ AUD0.1550 cents each
No. of securities held after change	Beneficial: 2,063,704 Ordinary fully paid shares - Beneficial in the name of R Tweedie Super Fund 179,657 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd Non Beneficial: 135,919,429 Ordinary fully paid shares - Non Beneficial in the name of Todd Petroleum Mining Company Limited 21,600,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On Market Trade

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation.
Interest after change

$+$ See chapter 19 for defined terms.

. . . . . . . . . . . . . . . . . . . . Richard Tweedie

Dated 8 May 2007

$\div$ See chapter 19 for defined terms.

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity: Cue Energy Resources
ABN : 45 066 383 971

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ernest Geoffrey Albers
Date of last notice	7 February 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	BB Nominees Pty Ltd
Date of change	7 May 2007
No. of securities held prior to change	Beneficial: 6,383,020 Ordinary fully paid shares - Beneficial in the name of Ernest Geoffrey Albers 448,811 Ordinary fully paid shares - Beneficial in the name of Sacrosanct Pty Ltd 141,394 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd Non-Reneficial: 36,380,140 Ordinary fully paid shares - Non Beneficial in the name of Octanex NL 264,583 Ordinary fully paid shares - Non Beneficial in the name of Bass Strait Group Pty Ltd (BSG)
Class	Ordinary fully paid shares.
Number acquired	40,102

⁺ See chapter 19 for defined terms.

Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	40,102 @ AUD0.1550 cents each
No. of securities held after change	Beneficial: $6,383,020$ Ordinary fully paid shares $-$ Beneficial in the name of Ernest Geoffrey Albers 540,479 Ordinary fully paid shares - Beneficial in the name of Sacrosanct Pty Ltd 89,828 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd Non-Beneficial: 36,380,140 Ordinary fully paid shares - Non Beneficial in the name of Octanex NL 264,583 Ordinary fully paid shares - Non Beneficial in the name of Bass Strait Group Pty Ltd(BSG)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade pursuant to Directors Share Savings Plan.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.

. . . . . . . . . . . . . . . . . . . . Ernest Geoffrey Albers

Dated 8 May 2007

⁺ See chapter 19 for defined terms.

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity: Cue Energy Resources
ABN : 45 066 383 971

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Kenneth Hoolihan
Date of last notice	7 February 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. Date of change No. of securities held prior to change	7 May 2007 Beneficial:
	141,394 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd 1,539,250 Ordinary fully paid shares - Beneficial in the name of K Hoolihan Non Beneficial: 135,919,429 Ordinary fully paid shares - Non Beneficial in the name of Todd Petroleum Mining Company Limited 21,600,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Class	Ordinary fully paid shares.
Number acquired	40,102

⁺ See chapter 19 for defined terms.

Number disposed	NIL
Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	40,102 @ AUD0.1550 cents each
No. of securities held after change	Beneficial: 89,828 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd 1,630,918 Ordinary fully paid shares - Beneficial in the name of K Hoolihan Non Beneficial: 135,919,429 Ordinary fully paid shares - Non Beneficial in the name of Todd Petroleum Mining Company Limited 21,600,000 Ordinary fully paid shares - Non Beneficial in the name of Todd Tasman Oil Ltd
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade pursuant to Directors Share Savings Plan.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation.
Interest after change

$+$ See chapter 19 for defined terms.

. . . . . . . . . . . . . . . . . . . . Kenneth Hoolihan

Dated 8 May 2007

⁺ See chapter 19 for defined terms.

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity: Cue Energy Resources
ABN : 45 066 383 971

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Leon Musca
Date of last notice	7 February 2007

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	BB Nominees Pty Ltd
Date of change	7 May 2007
No. of securities held prior to change	Beneficial: 1,074,488 Ordinary fully paid shares - Beneficial in the name of Leon Musca 405,525 Ordinary fully paid shares - Beneficial in the name of Leon Nominees 10,737,130 Ordinary fully paid shares - Beneficial in the name of Portfolio Securities Pty Ltd 141,394 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd
Class	Ordinary fully paid shares.
Number acquired	40,102
Number disposed	NIL

$\div$ See chapter 19 for defined terms.

Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	40,102 @ AUD0.1550
No. of securities held after change	Beneficial: 1,166,156 Ordinary fully paid shares - Beneficial in the name of Leon Musca 405,525 Ordinary fully paid shares - Beneficial in the name of Leon Nominees 10,737,130 Ordinary fully paid shares - Beneficial in the name of Portfolio Securities Pty Ltd. 89,828 Ordinary fully paid shares - Beneficial in the name of BB Nominees Pty Ltd
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back-	On market trade pursuant to Directors Share Savings Plan.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to
which interest related prior to
change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation.
Interest after change

$+$ See chapter 19 for defined terms.

. . . . . . . . . . . . . . . . . . . . Leon Musca Dated 8 May 2007

⁺ See chapter 19 for defined terms.