Slide 1: FY2023 Annual Results and Update
For personal use only FY2023 Annual Results and Update 27 September 2023 Central Petroleum Limited (ASX:CTP)
Slide 2: FY2023 highlights and recent developments
FY2023 highlights and recent developments Reserves upgrade Added 5.9 PJ of 2P gas reserves (up 8% before production) For personal use only Successful PV12 production well PV12 produced over target at over 10 TJ/day Solid underlying revenue $39.3m revenue; margin per unit uncreased 18% Secured Debt F
Slide 3: Solid underlying operational performance (FY2023)
Solid underlying operational performance (FY2023) Improving performance For personal use only ➢ Sales revenue: $39.2m (inc $1m Take-or-pay) ➢ Strong markets: Realised gas price up 17% on FY2022, at $7.90/GJe Sales volume 4.8 PJe Margin $3.95/GJe • Down 23% on FY2022 • Up 18% from $3.33 in • Down 3%
Slide 4: Palm Valley production and reserves boost
Palm Valley production and reserves boost PV12 production well commenced production in late November For personal use only ➢ Produced at over 10 TJ/day by late December ➢ Has more than doubled the Palm Valley field production rate ➢ Increased 1P gas reserves by 3 PJ (31% increase before production)
Slide 5: Reserves upgrade
Reserves upgrade 2P gas reserves upgraded by 5.9 PJ ➢ 1P gas upgrade of 6.8 PJ (12.6%)* For personal use only ➢ 2P gas upgrade of 5.9 PJ (8.8%)* Palm Valley gas reserves ➢ 1P upgrade of 3.0 PJ (31%)* ➢ 2P upgrade of 2.4 PJ (22%)* ➢ Resulting from the successful PV12 well ➢ Additional 2C contingent g
Slide 6: New Gas Sales Contract
New Gas Sales Contract Term gas markets remain strong For personal use only Existing gas contracts escalate with inflation Very strong market interest in new firm gas contracts from 2023 New firm gas sales agreements + 0.55 PJ* over 2 years from 1 Jan 2023 + 0.36 PJ* during 2025 + 0.9125 PJ* during
Slide 7: Southern Amadeus Sub-salt Exploration – Hydrogen / Helium / Hydrocarbons
Southern Amadeus Sub-salt Exploration – Hydrogen / Helium / Hydrocarbons Peak farm-out terminated For personal use only • Peak Helium have defaulted on their farm-in obligations • Peak farmout has been terminated and Central working to recover its interests in the permits • Sub-salt exploration prog
Slide 8: MOU for Helium Recovery Unit at Mereenie
MOU for Helium Recovery Unit at Mereenie Central is working with experienced US-based helium developer and producer, Twin Bridges to evaluate a Helium Recovery Unit (HRU) at Mereenie For personal use only The HRU Project: • Extract helium from the existing Mereenie gas stream (0.2% of current sales
Slide 9: Proposed Mereenie Helium Recovery Unit
Proposed Mereenie Helium Recovery Unit • ~0.2% helium in sales gas can add material value from brownfields economics & attractive market dynamics For personal use only • Only domestic source of helium after Darwin plant shuts down Existing Sales Compression Helium Recovery Unit Conceptual Design 2 s
Slide 10: Amadeus Basin: Drive to helium production and multi-TCF sub-salt exploration
Amadeus Basin: Drive to helium production and multi-TCF sub-salt exploration Proven helium in the Amadeus Basin For personal use only Commercial production of helium at Mereenie will demonstrate the potential for the Amadeus Basin to become a world-scale helium resource as helium is known to exist i
Slide 11: Range CSG Project
Range CSG Project For personal use only ▪ Production testing continuing on three pilot wells (Range 6, 9, 10) ▪ Since June 2022, gas rates have more than tripled to ~120,000 scfd ▪ This gradual gas ramp up is typical of the early days of successful CSG plays on the fairway edges ▪ Plans are being co
Slide 12: The year ahead
The year ahead Central is well positioned to take advantage of strong domestic gas markets and poised to confirm a world- For personal use only class helium resource Increasing production to supply strong gas markets • Mereenie development wells CY2024 (subject to JV approval) • Improve revenues thr
Slide 13: Near-term activity
Near-term activity Zevon seismic (100%) Mereenie production Subsalt gas, helium and enhancement (25%) hydrogen target For personal use only Planning underway for 2 new Seismic planned development wells(4) Farm-out candidate L6 Mamlambo drilling (100%) * OL4/5 OL3 18 mmbbl oil target(1) Farm-out cand
Slide 14: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information
Slide 15: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Reserves and contingent resources Reserves Contingent Resources For personal use only Proved Proved & Best estimate Central – existing fields Probable (Central share) Units 1P 2P 2C Mereenie oil mmbbl 0.34 0.38 0.05 Mereenie gas PJ 28.7 37.5 45.6 Palm V
Slide 16: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Prospective Resources – (Central Share) Low Estimate Best Estimate High Estimate Mean For personal use only Target Permit P90 P50 P10 Lead / Prospect Permit formation Interest Recoverable Recoverable Recoverable Recoverable (mmbbls) (mmbbls) (mmbbls) (m
Slide 17: Notice and Legal Disclaimer
Notice and Legal Disclaimer To the maximum extent permitted by law: This presentation is not intended for prospective investors and does not purport to provide all of the information an interested party may require in order to investigate the affairs of Central Petroleum Ltd (“Company”). This presen
Slide 18: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 For personal use only Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au This presentation was approved and authorised for www.centralpetroleum.com.au release to ASX by Leon Devaney, Managing Director and Chief Executiv