CUE ENERGY RESOURCES LIMITED — Director's Dealing 2012

May 7, 2012

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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

DRILLING PROGRAM

Appendix 3Y – Change of Director’s Interest

• Naga Utara exp well Q1 12

• Naga Selatan exp well Q2 12

• WA-389-P exp well Q2 12

• Maari appraisal well Q4 12

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

CUE ENERGY DIRECTORS

• Richard Tweedie (Chairman)

• Timothy Dibb

• Geoffrey King

• Steve Koroknay

• Paul Moore

• Leon Musca

• Andrew Young

Yours faithfully

CUE ENERGY MANAGEMENT

• Mark Paton (CEO)

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• Andrew Knox (CFO)

• Terry White (Exp Man)

• Alex Parks (CCO)

OFFICE

Level 21 114 William Street Melbourne Vic 3000

Andrew M Knox

CONTACT DETAILS

Public Officer

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

00/SP/PC02/FM01 – Rev 0

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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 30/09/01 Amended 01/01/11

Name of entity Cue Energy Resources Limited

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	28 October 2011

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

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	n/a
Date of change	7 May 2012
No. of securities held prior to change	Beneficial:381,137 Ordinary fully paid shares – Beneficial inthe name of BB Nominees Pty Ltd3,363,477 Ordinary fully paid shares – Beneficialin the name of R Tweedie Super Fund
Class	Ordinary shares
Number acquired	187,647
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	187,647 @ 0.2650 cents

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change Beneficial: 568,784 Ordinary fully paid shares – Beneficial in the name of BB Nominees Pty Ltd 3,363,477 Ordinary fully paid shares – Beneficial in the name of R Tweedie Super Fund Nature of change On market trade pursuant to Directors Share Example: on-market trade, off-market trade, exercise of options, issue of Savings Plan. securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade N/A to proceed during this period? If prior written clearance was provided, on what date was this N/A provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011