AFTER acquiring a 6.75% stake in Cue Energy, Singapore Petroleum Company has informally approache...
Cue said no formal proposal or written offer has been received and it was unsure of SPC's specific intentions.
SPC built up its stake in Cue between July 27 and August 3.
Cue and SPC are partners with operator Santos in the Sampang production sharing contract in Indonesia, which includes the Oyong oil and gas project.
Cue's largest shareholder is New Zealand's Todd Energy, which has a 25% stake.
On Friday, shares in Cue remained unchanged at A22c. the company opened at 21c today.
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