Highlights

  • Cue Energy Resources completed a major ownership change during 2026 following Horizon Oil’s takeover.
  • The company continued oil and gas activities across Australia, Indonesia and New Zealand.
  • The PB-42 well at Mahato in Indonesia remained a key operational development.
  • Palm Valley activities progressed alongside existing gas Supply arrangements.
  • Future updates will focus on production, development activities and financial performance.

Cue Energy Resources Limited (ASX:CUE) is an oil and gas exploration and production company with interests across Australia, Indonesia and New Zealand. During 2026, the company experienced a significant ownership transition while continuing to manage production activities and development programmes across its asset portfolio.

Horizon Oil Ownership Change

Cue Energy’s corporate structure changed during 2026 after Horizon Oil completed its Takeover offer. Following completion, Horizon Oil became the controlling Shareholder with a majority ownership interest in Cue. The ownership change introduced a new strategic influence over the company while Cue continued operating as an ASX-listed entity.

Operations Across Multiple Regions

Cue Energy maintains interests in oil and gas Assets across several regions. The company operates as a non-operating partner in a number of projects, meaning operational decisions are generally managed by project operators. This structure allows Cue to participate in exploration and production activities while relying on joint venture partners for field operations.

Mahato Development Activities

The Mahato oil project in Indonesia remained an important operational area during 2026. Cue holds an interest in the project, where development activities continued following drilling updates. The PB-42 well was reported to have achieved production during 2026, providing further information on the performance of the asset and future development opportunities.

Palm Valley Gas Activities

Cue Energy also maintains an interest in the Palm Valley gas field in the Northern Territory. Activities at Palm Valley continued alongside broader gas development work in the region. The company’s participation in the project provides exposure to domestic gas supply activities and ongoing field development programmes.

Financial and Operational Position

Cue Energy continued managing its financial position while participating in oil and gas projects. Production levels, Commodity prices, partner decisions and operational outcomes remain important factors affecting the company’s performance. As a non-operating participant in several assets, Cue’s results are influenced by decisions made by operators and joint venture partners.

Risks and Considerations

Oil and gas companies face risks associated with commodity prices, exploration outcomes, production changes and regulatory requirements. Cue Energy’s portfolio approach provides exposure to multiple projects, but operational performance depends on asset-level outcomes and partner execution. Changes in ownership structure may also influence future corporate strategy and priorities.

Future Monitoring Areas

Future company announcements may provide further information on production performance, Mahato development activities, Palm Valley progress and the impact of the ownership transition. Quarterly reports will remain important for understanding operational performance, cash position and changes across the company’s asset portfolio.

Key Insights

Cue Energy Resources’ 2026 developments reflect both corporate change and continued operational activity across its oil and gas portfolio. The company is managing a transition in ownership while maintaining exposure to producing and development-stage assets. Future disclosures will provide further information on operational delivery, project performance and the company’s evolving strategic direction.