Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (April 2011)
30 slides from Cue Energy Resources's investor presentation, Apr 18, 2011
Slide 1: ASX announcement cover fax: Cue Energy Resources Presentation April 2011
Cue Energy Resources Limited A.B.N. 45 066 383 971 Level 21 For personal use only 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 TO : Company Announcements Office 10th Floor 20 Bond Street
Slide 2: Presentation April 2011 - Good to great!
For personal use only Presentation April 2011 ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY Good to great!
Slide 3: Disclaimer & Important Notice
For personal use only DISCLAIMER & IMPORTANT NOTICE Various statements in this document constitute statements relating to intentions, future acts and events. Such statements are generally classified as forward looking statements and involve known risks, expectations, uncertainties and other importan
Slide 4: Current Position
Current Position For personal use only • SE Asia/Australasia focus area • $243 million market capitalisation ( 35 cps) • In the range 15th-20th largest E&P company on the ASX • Good spread of assets, quality JV operators (OMV, Oil Search, Woodside, Apache, Santos) • Historically exploration led • Cl
Slide 5: Vision
Vision For personal use only • Operator of oil and gas assets • Greater diversity of cash flow streams • On the verge of monetising WA exploration success • Maintain Australasia/Asia Pacific Focus Area • Maintain focus on high margin conventional oil and gas resources • $1 billion market capitalisat
Slide 6: Roadmap for Growth
Roadmap for Growth To develop a robust and substantial E & P company with a focus on For personal use only the Asia Pacific region and market capitalisation greater than A$ 1 Billion through: • Maximising value of existing assets • Building organisational capability • Aggressively pursuing new E&P a
Slide 7: Cue Energy Statistics
Cue Energy Statistics For personal use only 20 Largest Shareholders Australian Registered Company established 1981 Ordinary Percentage Shareholder Shares Held Shareholders 5,398 Listings ASX:Cue, NZX:Cue, Pomsox:Cue, ADR/OTC: CUEYY Todd Petroleum Mining Company Limited 163,103,314 23.47% UOB Kay Hia
Slide 8: Directors & Executives
DIRECTORS & EXECUTIVES For personal use only RICHARD TWEEDIE, LL.B MARK PATON, BSC (Hons 1) C Eng Non-Executive Chairman Chief Executive Officer Former MD Todd Energy NZ 30 years experience, oil & gas (27% of shares) Joined Cue in Feb 2011 LEON MUSCA, LL.B ANDREW KNOX, B Com Non-Executive Director C
Slide 9: Asset Location Map
Asset Location Map For personal use only OIL PRODUCTION PDL3 Cue 5.568892% MALAYSIA (SE Gobe Unit 3.285651%) PNG EXPLORATION PPL190 OIL, GAS PRODUCTION INDONESIA Cue 10.947% Sampang PSC Cue 15% CONTINGENT GAS RESOURCE PRL9 Cue 14.894% EXPLORATION WA-389-P Cue 35% EXPLORATION WA-359-P WA-409-P AUSTRA
Slide 10: Hydrocarbon Inventory
Hydrocarbon Inventory For personal use only Oil Reserves Gas Reserves/ Resources TOTAL Oil : 3.35 mmbbls TOTAL Gas : 149 BCF (25 mmbbls BOE) 2.60 mmbbls (2P) Maari (NZ) 120 BCF (2C†) Barikewa (PNG) 0.31 mmbbls (2P) Manaia (NZ) 14 BCF (2P) Wortel (Indonesia 0.31 mmbbls (2P*) Oyong (Indonesia) 12 BCF
Slide 11: Maximise value from existing assets
Maximise value from existing assets For personal use only Exploration Appraisal Development Production Carnarvon Basin LNG WA-389P PNG PRL9 • Caterina SCALE GAS WA-359 & WA-409-P Barikewa NZ: PEP51313 NZ: Maari • Matariki Sampang PSC Oil • Te Whatu • Jeruk Indonesia: Oyong PNG: SE Gobe • Pike Gas &
Slide 12: Net 2P Production Forecast
Net 2P Production Forecast For personal use only 6500 6000 5500 5000 4500 B 4000 O 3500 E 3000 P D 2500 2000 1500 Calendar 2011 1000 • 520,000 barrels oil • 2.4 billion cubic ft gas 500 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 SE GOBE OIL OYONG OIL MAARI/MANAIA OIL OYONG GAS WORTEL GAS OTHER G
Slide 13: Projects
For personal use only PROJECTS
Slide 14: Papua New Guinea
Papua New Guinea For personal use only Mt Hagen P’nyang Hides Goroka Juha Moran Agogo Kutubu PDL3 Gobe SE Gobe PPL190 Kimu Barikewa PRL9 Elk/ Antelope LEGEND Cue License Oil Fields Kerema Gas Fields Proposed Gas Pipeline Oil Pipeline Kumul Oil terminal PNG LNG 0 100 km Port Moresby
Slide 15: South East Gobe Field - PNG
South East Gobe Field - PNG For personal use only PPL190 PPL219 Gobe 5 Gobe 4 Gobe Main Field APRL 14 PPL190 Gobe 6 Gobe 2X Gobe 2 Wasuma 1 Gobe 7X South East Gobe Field PDL4 Gobe Gobe74 SEG 9 PPL 190 SEG 3 SEG 8 SEG 10 PPL206 PDL3 SEG 1 SE Gobe 1 Gobe 3X Gobe 3 PDL4 SEG 7 SEG 13 SEG 2 SEG 5,6 Gobe
Slide 16: PRL9 - Barikewa Gas Field
PRL9 - Barikewa Gas Field For personal use only Proposed PNG LNG Pipeline Location • Barikewa is a potentially large Oil Pipeline resource • Toro and Hedinia (2P equiv) 700 BCF • Mean (all zones) 1.5 TCF • P10 (all zones) 2.6 TCF (Source – Oil Search 2009) • Potential to supply to PNG LNG Potential
Slide 17: Sampang PSC – Indonesia
Sampang PSC – Indonesia For personal use only MADURA ISLAND LEGEND Cue Contract Gas Field Sampang Pamekasan Oil Field Herbras Kentang Persik Utara Prospect OYONG AREA 3 Surabaya AREA 1 WORTEL Gas Pipeline AREA 4 JERUK Pare AREA 2 Paus Ubur-Ubur Bakung Bengkoang Participating JV Participants Interest
Slide 18: Oyong + Wortel Development
Oyong + Wortel Development For personal use only Gresik Sumenep Sampang Wortel Wellhead Surabaya Platform 2011 DEVELOPMENT Oyong OIL Platform PHASE FSO Production Barge DEVELOPMENT COMPLETED Onshore gas Processing plant East Java pipeline GAS PHASE Grati Probolinggo Leces Source: Santos Ltd …three s
Slide 19: Wortel Gas Field
Wortel Gas Field For personal use only 10km pipeline Wortel-1 Wortel-2 2 Development wells RECOVERABLE GAS POTENTIAL (BCF) Pare Prospect LOW MID HIGH 63 104 122 Limit of Oyong 3D seismic Scale 2km Capital cost US$100 million Cue share US$15 million Top Mundu Formation Depth Map …tied in to Oyong
Slide 20: New Zealand - Maari Oil Field
New Zealand Maari Oil Field For personal use only Tui PMP38160 Kapuni Maui Maari -1 Moki -1 Oil producers Maari -2 Maari Well Kupe South Head Platform Maari Moki -2A Maari South Scale 20km Manaia -1 Maui -4 JV Participants Participating Interest OMV (Operator) 69% Todd 16% 0 5 km Horizon 10% Cue 5%
Slide 21: Maari Development Scheme
Maari Development Scheme For personal use only Wellhead Platform Floating Production Storage Offloading (FPSO) …facilities completed
Slide 22: Maari Development
Maari Development For personal use only • Platform, FPSO, 7 oil wells, 3 water injectors • First oil 1Q 2009, 15.5 million barrels produced • Current rate ~ 17,000 bopd Cue share ~ 850 bopd • Moki 2P oil reserves ~ 52 million barrels Cue share ~ 2.6 million barrels • M2A 2P initial reserves 3.2 mill
Slide 23: PEP 51313 - Matariki
PEP 51313 - Matariki For personal use only • Matariki 3D acquisition completed - Interpretation underway • Te Whatu 2D acquisition - Commenced in April 2011 Participating JV Participants Interest Todd Exploration 50% (Operator) Horizon Oil (New Zealand) 30% Limited Cue Taranaki Pty Limited 20% Oil i
Slide 24: PEP 51149 – Te Kiri and Pungarehu
PEP 51149 – Te Kiri and Pungarehu For personal use only Scale 5km New Plymouth JV Participants Participating Interest Todd Exploration 40% (Operator) Mighty River Power Gas 30% Investments Ltd Kaimiro Gas Field Cue Taranaki Pty 20% Limited PEP 51149 Goldie Oil Field Cue 20% Mosaic Oil Limited 10% Ng
Slide 25: Australia - Carnarvon Basin Permits
Australia Carnarvon Basin Permits • 5 permits on trend with major For personal use only discoveries and new developments LEGEND Oil Field Gas Field • Significant existing and planned LNG Cue Non-Operated Permit processing capacity in the region WA-389-P Caterina Prospect • Possible 3rd party access
Slide 26: WA-389-P: Prospects & Leads
WA-389-P: Prospects & Leads For personal use only WA-389-P Ezard • Farmout to Woodside Donovans New Movida 3D seismic completed The Point Existing 3D seismic reprocessing ongoing Caterina Drill one well in 2012 Movida • 8 large prospects and leads • Cue retains 35% interest Rockpool Intimo PRI
Slide 27: Intra-Triassic Channel Play
Intra-Triassic Channel Play For personal use only LEGEND NW SHELF ANALOGUES PRODUCTION Intra Triassic Channels on Goodwyn Gas Field current 3D seismic Intra Triassic Channels 2D seismic Existing 3D seismic Gas Filled Channel Planned 3D seismic New Movida Cue Permit 3D seismic WA-389-P APPRAISAL Juli
Slide 28: Activity Timing
Activity Timing For personal use only 2011 2012 CUE INDICATIVE TIME LINE 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q EXPLORATION SEISMIC PEP51149 (2D) Pungarehu PEP51313 (3D and 2D) Matariki/ Te Whatu WA-389-P (3D) WA-359-P, 409-P (3D) DRILLING Sampang PSC Wortel Development WA-389-P Caterina-1 PEP51313 Matariki -1 DEV
Slide 29: Why Invest in Cue
WHY INVEST IN CUE For personal use only Experienced, energetic and entrepreneurial board and management • A track record in successful company building • New management with engineering, field development and operational experience • Good regional network and proven business development record • Str
Slide 30: Thank you
For personal use only Thank you
Cue Energy Resources — Investor Presentation (April 2011) on 6ix