Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (October 2020)
19 slides from Cue Energy Resources's shareholder meeting presentation, Oct 30, 2020
Slide 1: CEO Presentation - Annual General Meeting
CUE ENERGY RESOURCES LIMITED For personal use only CEO Presentation Cue Energy Resources Limited Annual General Meeting www.cuenrg.com.au Melbourne 30th October 2020 ASX:CUE
Slide 2: Disclaimer and Important Notice
Disclaimer and Important Notice This presentation is for the sole purpose of preliminary background information to enable recipients to review the For personal use only business activities of Cue Energy Resources Limited(ASX: CUE). The material provided does not constitute an invitation, solicitatio
Slide 3: Operations Highlights
Operations Highlights Strong business model with projects in all phases For personal use only Production • $24 million FY20 production revenue from gas and oil • Strong balance sheet with cash and no debt Development • Paus Biru gas development planning underway • First oil production from Mahato de
Slide 4: Corporate Overview
Corporate Overview ASX:CUE Capital Structure Share price and volume For personal use only Share Price ( 27 Oct 2020) 18.0c 0.2 2500000 0.18 Shares on Issue 698,119,720 0.16 2000000 0.14 Market capitalisation (27 Oct 2020) A$126 million 0.12 1500000 Cash (30 Sept 2020) A$27.4 million 0.1 0.08 1000000
Slide 5: Cue Assets
Cue Assets Indonesia For personal use only Exploration Mahakam Hilir PSC (Op) Jakarta office Indonesia Production/Dev Sampang PSC Mahato PSC New Zealand Production PMP38160 (Maari) Australia Exploration WA-359-P Melbourne WA-409-P Head office WA-389-P (Op) 5
Slide 6: FY20 Full Year Results
FY20 Full Year Results A $million Net Cashflow from Operations • Revenue of $24 million, 60%:40% gas to oil For personal use only 14 12 • $7.4 million net cashflow from operations 10 • 22% increase in cash, enabling funding of 8 development and exploration 6 • Maintained position of no debt 4 2 0 FY
Slide 7: Ironbark (WA-359-P)
Ironbark (WA-359-P) Company changing potential • Cue 21.5% Participating Interest For personal use only • Ironbark prospect: 15tcf best case prospective recoverable gas resource • 50km from North West Shelf LNG infrastructure • Experienced international operator, BP, and strong partners Beach Energy
Slide 8: Ironbark Prospect
Ironbark Prospect A giant untested structure TR17 structure map with Ironbark prospect • Up to 400km2 fault bounded horst structure with North/South dip closure For personal use only • Deep Mungaroo reservoir interval; 150-300m reservoir thickness at Ironbark • 500m thick regionally extensive Mungar
Slide 9: Ironbark Upside Potential
For personal use only Ironbark Upside Potential WA-409-P (Cue 20%*, BP 80%) WA-389-P (Cue 100%) • Adjoining permit north of WA-359-P • Adjoining permit northwest of WA-359-P • Contains high case Ironbark plus NE Ironbark • Banambu Horst is part of the same structural prospect trend as Ironbark with
Slide 10: Production
For personal use only Production 10
Slide 11: Maari Oil Production
Maari Oil Production MAARI LOCATION MAP – NEW ZEALAND For personal use only • $9.5 million FY20 revenue, impacted by globally low oil prices and well outages • MR6A, one of the field’s largest producers, offline since March, with repairs planned for late CY2020 • MR7 and MR9 were offline for repairs
Slide 12: Sampang PSC Gas Production
For personal use only Sampang PSC Gas Production • $14.4 million FY20 revenue from Oyong and Wortel gas fields, with no significant COVID-19 impact to date • Operated by Medco Energi, Indonesia’s largest listed O&G company • Fixed priced, long term gas contracts with electricity producer • Low cost,
Slide 13: Development
For personal use only Development 13
Slide 14: Paus Biru Development Planning
Paus Biru Development Planning • Paus Biru Plan of Development (POD) approved July 2020. JV For personal use only currently targeting mid 2021 FID • Simple, proven, development concept • Single production well with well head platform (WHP) • 27km pipeline to existing Oyong WHP • FEED studies and gas
Slide 15: Mahato PSC
Mahato PSC PB field development progressing For personal use only • First oil expected during the current quarter • Cue has received, and paid, a cash call for PB field development wells and infrastructure with no JV dispute on future PB field activities • PB field development activities • Productio
Slide 16: Exploration Indonesia
For personal use only Exploration Indonesia 16
Slide 17: Mahakam Hilir PSC
Mahakam Hilir PSC • Permit extension granted until April 2021, with extension For personal use only conditions including a restriction on transfer of title Naga Utara NU-4 well (proposed) • Cue is assessing the impact of the title restriction and current COVID-19 restrictions on any future dealings
Slide 18: FY2021 Outlook
For personal use only FY2021 Outlook Company changing Exploration potential • Ironbark -1 expected to be completed early January • Positive results could add significant value to Cue • Upside potential in WA-409-P and WA-389-P if Deep Mungaroo play proven Development • Paus Biru development planning
Slide 19: For personal use only
For personal use only Level 3, 10 Queen Street, Melbourne VICTORIA – AUSTRALIA 3000 P. (+61) 3 8610 4000 F. (+61) 3 9614 2142 E. mail@cuenrg.com.au W. www.cuenrg.com.au
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