Central Petroleum Limited · ASX:CTP
Central Petroleum — H1 FY2024 Earnings Presentation
15 slides from Central Petroleum's earnings presentation, Mar 22, 2024
Slide 1: FY24 1st Half Results and Update
For personal use only FY24 1st Half Results and Update 22 March 2024 Central Petroleum Limited (ASX:CTP)
Slide 2: Solid underlying operational performance
Solid underlying operational performance Sales volume 2.4 PJe (1H FY2024) Sales revenue $19.9m (1H FY2024) • YTD up 9% on 1H FY2023 • Includes $2.3m Take-or-pay release For personal use only • December qtr down 7% from September qtr • Strong markets: Realised portfolio price of $7.23/GJe YTD Impacte
Slide 3: Business strategy
Business strategy Maximising cash flow to position the balance sheet for possible future distributions Targets Actions For personal use only Cost reduction ➢ Comprehensive cost review underway ➢ Ensure fit-for-purpose operating and corporate costs ➢ Continuing to prioritise safety and environment De
Slide 4: Debt reduction
Debt reduction Strong position with flexibility for growth opportunities For personal use only Strong cash position • Cash balance $21.4m (at 31 December 2023) • Includes Range sale proceeds of $12.5m Reduced debt • Loan Balance $25.8m • Net debt $4.4m (at 31 December 2023) Reducing debt service Pre
Slide 5: Gas marketing
Gas marketing Highly leveraged to increasing gas prices through upcoming marketing For personal use only ➢ Brisbane Short Term Trading Market prices have stabilised at around $10 - $12 / GJ over the last 9 months ➢ Strong interest for fixed-price term gas contracts Competitive advantage from changin
Slide 6: Focussed growth: high-impact / near-term
Focussed growth: high-impact / near-term Large potential resources of natural gas, oil, helium, hydrogen For personal use only Mereenie development wells New wells to increase gas Palm Valley development well production Mereenie Stairway (25%) New well to increase gas production 27 PJ Gas target(3)
Slide 7: NT gas market
NT gas market NGP Outage Off-Shore For personal use only DLNG Tail ➢ NT gas demand ranges from about 60 – 80 TJ/d Gas (Blacktip) Gas ➢ Current NT gas supply: NT ▪ Off-shore gas field (Blacktip) Demand 60 – 80 TJ/d ▪ Amadeus Basin NGP Export ▪ Temporary DLNG tail gas ➢ NT production surplus is curren
Slide 8: NT gas market in transition
NT gas market in transition NT’s sources o gas suppl is changing NT Production Required For personal use only ➢ Significant decline in off-shore gas to Resume NGP Exports supply since 2022 NT omestic as uppl T d ➢ Currently offset by DLNG tail gas 60 ➢ NGP outages coincide with NT 0 production below
Slide 9: NT gas market scenarios (near-term)
NT gas market scenarios (near-term) High NT Production Scenario Low NT Production Scenario For personal use only Off- Off- LNG Shore Shore NT NT Demand Demand 60 – 80 60 – 80 TJ/d TJ/d NGP Export NGP Rev Flow Amadeus Basin Amadeus Basin 9
Slide 10: Other updates
Other updates For personal use only ➢ Sub-Salt Farmout ▪ Focus on Mt Kitty / Jacko Bore ➢ Helium Recovery Unit ▪ Considering turn-key structure to accelerate development and minimise capital demand ➢ Flare Gas Recovery Project ▪ Completed. Reduced Mereenie Scope 1 emissions by approximately 30 % and
Slide 11: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information CENTRAL PETROLEUM LIMITED (ASX:CTP) 11
Slide 12: 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 producing fields Probable (Central share) Units 1P 2P 2C Mereenie oil mmbbl 0.34 0.38 0.05 Mereenie gas PJ 28.7 37.5 4
Slide 13: Appendix 1: Resources information
Appendix 1: Resources information Prospective Resources Units Low Estimate Best Estimate High Estimate Mean Prospective Resources For personal use only Dukas (EP112) Central 45% interest* The volumes of Prospective Resources included in this report Helium Bcf 7.7 51.3 212.4 89.6 represent the unrisk
Slide 14: 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 part ma require in order to investigate the a airs o Central Petroleum td “Compan ” This presentation d
Slide 15: 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