Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (October 2018)
17 slides from Cue Energy Resources's shareholder meeting presentation, Oct 30, 2018
Slide 1: FY2018 Annual General Meeting
For personal use only CUE ENERGY RESOURCES LIMITED ASX:CUE FY2018 Annual General Meeting Matthew Boyall - CEO 30 October 2018
Slide 2: Disclaimer and Important Notice
Disclaimer and Important Notice For personal use only This presentation is for the sole purpose of preliminary background information to enable recipients to review the business activities of Cue Energy Resources Limited(ASX: CUE). The material provided does not constitute an invitation, solicitatio
Slide 3: Operations and Financial Review
Operations and Financial Review Cashflow positive with exciting Ironbark potential For personal use only • Strong FY2018 financial results • Ironbark funding and partners conditionally secured • Paus Biru exploration drilling ongoing • Cashflow from diversified production • Low cost Indonesian onsho
Slide 4: Production and Exploration Operations
Production and Exploration Operations For personal use only Indonesia Exploration Mahakam Hilir PSC (Op) Mahato PSC Jakarta office Indonesia Production Sampang PSC New Zealand Production PMP 38160 (Maari) Australia Melbourne Exploration Head Office WA-359-P (Op*) WA-409-P WA-389-P (Op) *Operatorship
Slide 5: FY18 Full Year Results
FY18 Full Year Results Sustainable, cashflow positive business For personal use only • $7.7 million Profit • $6.8 million Net Cashflow from Operations • $24.5 million Production Revenue • Impacted by ceased Sampang oil production and associated reduction in gas rates • 24% reduction in Production Co
Slide 6: Ironbark - Company Changing Opportunity
Ironbark - Company Changing Opportunity Clear path to the drilling of Ironbark-1 For personal use only • 26 October 2018 agreements(1) provide a clear path to drilling the Ironbark-1 exploration well • New Zealand Oil & Gas WA-359-P farm in • New Zealand Oil and Gas WA-409-P option • Cue , BP , Beac
Slide 7: New Zealand Oil & Gas Agreements
New Zealand Oil & Gas Agreements WA-359-P farm in and WA-409-P option For personal use only • New Zealand Oil & Gas agreements complete well funding for Ironbark-1 • Terms for WA-359-P and WA-409-P are identical to Cue’s agreements with Beach Energy November 2017, pro-rata for equity level • WA-359-
Slide 8: WA-359-P Co-ordination Agreement
WA-359-P Co-ordination Agreement JV formed and Ironbark well conditionally fully funded For personal use only • Cue, BP, Beach Energy and New Zealand Oil & Gas agreement executed 26th October 2018 • BP to act as operator with funding committed from all parties to commence well delivery processes for
Slide 9: Ironbark Prospect
Ironbark Prospect WA-359-P Australia - Cue 100%* For personal use only TR17 structure map with Ironbark prospect • Simple, Deep Mungaroo prospect with 15tcf potential recoverable gas resource • 400km2 fault bounded horst structure with North/South dip closure • Defined by high quality, recently repr
Slide 10: Ironbark Upside Potential
Ironbark Upside Potential WA-409-P and WA-389-P For personal use only WA-409-P WA-389-P • Adjoining permit north of WA-359-P • Adjoining permit northwest of WA-359-P • Contains Ironbark high case • Bluegum lead within the Banambu Horst is • BP (Operator) 80%; Cue 20%* directly analogous and similar
Slide 11: Paus Biru Exploration drilling
Paus Biru Exploration drilling Sampang PSC, Indonesia - Cue 15% For personal use only • Paus Biru-1 operations commenced 18 October 2018 • Current status - drilling ahead • Target is a Mundu formation reservoir, well known in the area and analogous to Oyong and Wortel Paus Biru gas producing zones P
Slide 12: Oil Revenue
Oil Revenue Maari & Manaia fields, New Zealand - Cue 5% For personal use only • $10.6million FY2018 Revenue • Changes to New Zealand offshore exploration do not affect existing fields, including Maari • A number of projects aimed at incremental Maari production increases and facility life have been
Slide 13: Fixed Price Gas Revenue
Fixed Price Gas Revenue Sampang PSC, Indonesia - Cue 15% For personal use only • $13.9 million FY18 revenue from Oyong and Wortel gas fields under well priced contracts • Fields currently exceeding production targets • High cost oil processing infrastructure removed during 2017 resulting in 50% redu
Slide 14: Onshore exploration in an oil rich basin
Onshore exploration in an oil rich basin Mahato PSC, Indonesia - Cue 12.5% For personal use only • Operator Change of Control recently approved by the Government of Indonesia • New operator is well funded for the Bangko Mahato exploration program 670 million bbl • 23 month extension to the current e
Slide 15: Onshore Appraisal
Onshore Appraisal Mahakam Hilir PSC, Indonesia - Cue 100% For personal use only 1 DJD8 WDUD • Onshore Kutei Basin, East Kalimantan, a proven petroleum province 1 8 Z HOO SURSRVHG • Naga Utara 4 (NU-4) well planned as appraisal of 100m interpreted gas pay in Sambutan-8 well • Low cost 3000ft well, <5
Slide 16: Operations and Financial Summary
Operations and Financial Summary Cashflow positive with exciting Ironbark potential For personal use only • Strong FY2018 financial results • Ironbark funding and partners conditionally secured • Paus Biru exploration drilling underway • Cashflow from diversified production • Low cost Indonesian ons
Slide 17: 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 Cue Energy Resources Limited
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