Central Petroleum Limited · ASX:CTP
Central Petroleum — Q2 2022 Earnings Presentation
15 slides from Central Petroleum's earnings presentation, Aug 4, 2022
Slide 1: Market Update
Market Update 4 August 2022 Central Petroleum Limited (ASX:CTP)
Slide 2: June Quarter Highlights
June Quarter Highlights Strong June Quarter Performance • Revenue up 18% from March quarter • Average sales price up to $8.49 / GJe Strong markets and access to spot sales • Newly gained access to the strong east coast spot markets • May/June spot sales revenue of >$2m ($34/GJ delivered price) Drill
Slide 3: Strong June Quarter Performance
Strong June Quarter Performance Sales volume 1.19 PJe Down 6.5% Annual sales revenue $42.2m Planned maintenance on Northern Gas Pipeline Up 12.7% on a like-for-like basis 2021: $59.8m Sales revenues $10.1m Up 18.7% ($37.1m like-for-like ownership %) Stronger commodity prices 15% of gas sold into eas
Slide 4: Extension of Debt Facility
Extension of Debt Facility Existing facility New facility Net debt $10.2m (down $4.8m) Loan Balance $30.8m Expiry 30 September 2022 30 September 2025 Principal repayments $2.0m per quarter $1.125m per quarter Facility extended Early termination fee Lesser of: Nil Extended by 3 years to September 202
Slide 5: Access to Strong East Coast Gas Markets
Access to Strong East Coast Gas Markets Well-timed new transport and trading Short Term Trading Market Pricing arrangements allow access to east (AU$/GJ - exante) coast spot markets 60 Improves the opportunity to sell all of our non-firm production on a day Sydney Central accesses east- Approximatel
Slide 6: Drilling Program Update
Drilling Program Update PV12 drilling progress Original target (PV Deep) at 3,560m Difficult drilling conditions – heavily fractured zones resulted in lost circulation of drilling fluids Gas shows detected while drilling through lower P2/P3 at approximately 2,060m Revised PV12 exploration target Tar
Slide 7: Range CSG Pilot Update
Range CSG Pilot Update Production testing commenced Two new step-out pilot wells (Range 9 and 10) commenced testing in April One of the original pilot wells (Range-6) is also being tested Increasing gas flows Gas breakthrough was observed immediately upon commencement of pumping – indicates presence
Slide 8: Sub-salt Exploration Program Update
Sub-salt Exploration Program Update Key activities underway Santos (operator) has commenced procurement, rig contracting, approvals Three wells commencing in 2023 Dukas, Mt Kitty and Mahler Targeting helium, naturally-occurring hydrogen and hydrocarbons Peak farm-out P kH mw f dC ’s s s f K y d Mahl
Slide 9: Near-term activity (CTP Share)
Near-term activity (CTP Share) Zevon seismic (100%) Palm Valley #12 drilling (50%) Mereenie production Targeting near-term production Subsalt Gas, helium and enhancement (25%) through P2/P3 appraisal hydrogen target Planning underway for: currently underway, with Seismic planned 2023 potential to al
Slide 10: Near-term growth activities
Near-term growth activities Q3 2022 Q4 2022 CY 2023 PV12 Drilling P2/P3 appraisal with potential to drill P1 lateral Production well #1 Mereenie recompletions* & Recompletions Drilling Production well #2 development wells* x 2 Range Extended testing Dukas* Planning, approvals, mobilisation Drilling
Slide 11: Appendix: Reserves and Resources Information
Appendix 1 Reserves and Resources Information
Slide 12: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Reserves and contingent resources Reserves Contingent Resources Proved Proved & Proved, Probable Best estimate Central – existing fields Probable & Possible (Central share) Units 1P 2P 3P 2C Mereenie oil mmbbl 0.39 0.43 0.49 0.05 Mereenie gas PJ 31.5 40
Slide 13: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Prospective Resources – Amadeus exploration targets (Central Share) Low Estimate Best Estimate High Estimate Mean Resources Estimates Target Permit P90 P50 P10 The volumes of Prospective Lead / Prospect Permit formation Interest Recoverable Recoverable
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 party may require in order to investigate the affairs of Central Petroleum Ltd (“Company”). This presen
Slide 15: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 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 Executive Officer 15