Central Petroleum Limited · ASX:CTP
Central Petroleum — Shareholder Meeting (November 2011)
23 slides from Central Petroleum's shareholder meeting presentation, Nov 29, 2011
Slide 1: Chairman's address to the Annual General Meeting of Central Petroleum Limited
ASX ANNOUNCEMENT ASX CODE: CTP 29 November 2011 TO: The Manager, Company Announcements ASX Limited For personal use only CONTACT: John Heugh +61 8 9474 1444 Chairman's address to the Annual General Meeting of Central Petroleum Limited Please find attached the transcript of today's Chairman's Address
Slide 2: Chairman's Address at the Annual General Meeting
Chairman’s Address at the Annual General Meeting of Shareholders of Central Petroleum Limited, 29 November 2011. I would like to commence this meeting with a brief overview of the activities of your For personal use only company, following on from my letter to shareholders in the Annual Report for 2
Slide 3: Chairman's Address (continued)
source, reservoir and seal in themselves, and may be induced to deliver commercial production by the multistage fracking of long offset lateral wells. These unconventional drilling and completion procedures have been enormously For personal use only successful in the US, to the extent that there is
Slide 4: Chairman's Address conclusion
questions from the floor, after which I will recommence the meeting with the formal business of the day. Dr Henry J Askin , 29 November 2011. For personal use only
Slide 5: Annual General Meeting November 2011
For personal use only Annual General Meeting 29 November 2011
Slide 6: Disclaimer
For personal use only Disclaimer 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. This presentation does not attempt to produce profit forecasts
Slide 7: Australia is importing c.80% of its petroleum
For personal use only Australia is importing c.80% of its petroleum 2
Slide 8: TAPIS price 25%+ to WTI, DOMGAS $ rising
For personal use only TAPIS price 25%+ to WTI, DOMGAS $ rising • Australian crude generally sold at TAPIS benchmark prices • TAPIS on average 20%+ higher than WTI both light sweet crude benchmarks 11.11.28 TAPIS $117/bbl WTI $96/bbl • Port Darwin 7 days sale from China, Singapore, 10 days from India
Slide 9: Unrivalled Materiality of Holdings
For personal use only Unrivalled Materiality of Holdings 4
Slide 10: Summary of Prospective Resources
For personal use only Summary of Prospective Resources Basin Nett Holdings Unrisked P50 UOIIP/UGIIP P50 Recoverable Prospective Resources Oil Gas Total Oil Gas Total (MM acres) Bn. bbls TCFG Bn. BOE Bn. bbls TCFG Bn.BOE Amadeus Conventional 47 3.5 10.5 5.3 1.0 6.7 2.1 Amadeus Unconventional 15.1 3.4
Slide 11: Board of Directors
For personal use only Board of Directors • Highly experienced Board of Directors Dr. Henry Askin • Over 40 years of experience in the oil exploration industry Geophysicist, BSc (Hons), PhD • Previously Australian Exploration Manager at Shell Chairman • Previously, Henry held a number of senior execu
Slide 12: Exec. Management: International, TSX/unconventional experience
Exec. Management : International, TSX/unconventional experience Chief Operating Officer • 19+ years experience. For personal use only Dalton Hallgren • Specialist in drilling, operations, production Bakken Shale, Williston Basin, Marcellus & B.Eng, Capt US Army (Ret) Haynesville, Barnett Shales • Ex
Slide 13: Achievements Since Listing
Achievements Since Listing For personal use only • Drilled 5 conventional wells, four with oil shows with one (Surprise-1) a probable discovery, the 5th, Ooraminna-2 is a gas discovery of 2 TCFG in place, awaiting further stepouts and unconventional drilling development • Drilled 9 coal wells and de
Slide 14: Activity in the Financial Year to June 2011
For personal use only Activity in the Financial Year to 30 June 2011 • Ooraminna‐2 gas prospect spudded and drilled; a “technical success”, c. 2 TCFG UGIIP • Johnstone West‐1 well spudded; “live” oil present • Significant oil shows at Surprise‐1; 500‐1,000 BPD possible, spudded then suspended‐ contr
Slide 15: Share Price Outperforming ASX
Share Price Outperforming ASX 300 (financial 2011/12 year to date) For personal use only CTP ASX300 Share price performance in the financial year to date: CTP has consistently outperformed the ASX300. Indexed to 100 start of period ‐ Source Radar Group 10
Slide 16: Company Strategy and Focus
For personal use only Company Strategy and Focus Long‐term Gas/ helium/ Longer‐term Crude oil/ monetisation condensate value adding to condensate of coal via discovery & gas via GTL discovery & mining, sales for and/or LNG for sales for early beneficiation medium‐term domestic and cash flow and expo
Slide 17: Growth Model
For personal use only Growth Model Fund growth and development Stage 3 through partner funding Growth and Monetisation • Continue to exploit oil for Leverage 100% asset equity ready cash flow ownership, incremental farm‐ outs and progressive de‐risking • Monetisation of by exploration condensate
Slide 18: Active Liquids Work Program Has Commenced
Active Liquids Work Program Has Commenced Our forward capital program is focused on oil and liquids rich gas targets For personal use only Immediate program (next 4‐8 months) Now Q1 2012 Q2? 2012 Q3? 2012 Surprise‐1 re‐entry; Mt Kitty‐1 Madigan‐1 targeting 3D seismic over any drilling to be complete
Slide 19: Surprise and JW-1 Oil – Western Amadeus
Surprise and JW‐1 Oil – Western Amadeus S-1 Flow potential from single 9m core is 500- South 1,000 BOPD, well suspended pending North For personal use only deepening to main target TWT Surprise‐1 Johnstone West‐1 Salt DHIs Salt Salt 14
Slide 20: Surprise-1 Oil Target Re-entry Underway
For personal use only Surprise‐1 Oil Target Re‐entry Underway 2551‐2552m of 9m core Lower Stairway Sandstone‐Surprise‐1, Dec. 2010. 9m core zone alone assessed by RPS Energy capable of c.500‐1,000 bbls/day, subject to confirmation by logging and pressure testing of visually obvious oil saturation. 1
Slide 21: Surprise-1 Update
For personal use only Surprise-1 Update • fair to excellent oil shows lower Stairway Sst-20m continuous, fair to excellent porosity and permeability • gas peaks to 75 units, high “heavy” gas content indicating oil dominated hydrocarbons present Lower Stairway Sst • 9m cored zone lower Stairway Sst w
Slide 22: Well positioned for the year ahead
For personal use only Well positioned for the year ahead • Unrivalled materiality of holdings and control of own destiny – 68 million acres under single operatorship • Underexplored and highly prospective holdings – global majors invested and drilling nearby, farmouts in discussion • Huge unconventi
Slide 23: Contact Details
For personal use only Contact Details Central Petroleum Limited Mark Simpson, Patersons Securities London Representative Phone: +61 8 9474 1444 Phone: +44 779 938 0757 www.centralpetroleum.com.au MSimpson@psl.com.au Stephen Tomsic, Patersons Securities John Heugh Corporate Advisor Australia Managing
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