Central Petroleum Limited · ASX:CTP
Central Petroleum — Q3 FY2020 Earnings Presentation
12 slides from Central Petroleum's earnings presentation, May 14, 2020
Slide 1: March 2020 Quarterly Update
For personal use only March 2020 Quarterly Update 14 May 2020 Central Petroleum Limited (ASX:CTP)
Slide 2: March quarterly highlights
March quarterly highlights For personal use only Oil oversupply and lower energy demand following COVID-19 has generated sudden and unprecedented shocks to the energy sector Lower quarterly revenues (18%) reflect these very depressed market conditions, but demonstrate the value of our long-term,
Slide 3: March quarter sales volume
March quarter sales volume For personal use only Sales volume: 2.7 PJE, down 27% on last quarter: Historically weak spot gas market conditions for uncontracted production Volumes essentially reflect our portfolio of fixed-price, long-term gas supply agreements Replaced 100% interest in 20 TJ/d
Slide 4: March quarter revenues
March quarter revenues For personal use only FY20 FY20 FY20 FY19 Product Unit Q3 Q2 YTD YTD Gas $’000 13,987 16,487 45,671 31,817 Crude and Condensate $’000 1,297 2,059 5,326 6,985 Total Sales Revenue $’000 15,284 18,546 50,997 38,802 Revenue per unit $/GJE $5.76 $5.03 $5.20 $5.68 Revenue: $15.3M, d
Slide 5: Strong FY2020 financial performance
Strong FY2020 financial performance For personal use only Sept Dec March Metric Unit Comment Qtr. Qtr. Qtr. Includes purchased gas sold. March quarter sales include minimal Sales volume PJE 3.5 3.7 2.7 spot sales and reflect firm contracted volumes. Includes revenue for pre-sale deliveries and sales
Slide 6: Reducing liabilities
Reducing liabilities For personal use only Extended finance facility: Matures September 2021 Only $6 million of scheduled repayments in next 12 months Facility interest costs very efficient (5.87% pa at 31 March) Other liabilities continue to be unwound: Pre-sold gas: 432 TJ of gas delivered
Slide 7: Conserving capital
Conserving capital For personal use only We responded quickly to deteriorating market conditions by reducing costs and deferring discretionary expenditure: Reduction of head office positions by 10% (20% reduction including contract staff) Deferred investment in new production wells as additional
Slide 8: Financially resilient
Financially resilient For personal use only Cash balance of $26.1 million at 31 March Positive March quarter run rate cash flow of $0.3 million after debt service and excluding one- offs Limited direct exposure to oil prices - only 10% of YTD revenues are from oil sales Long term, fixed pric
Slide 9: Return to full growth mode
Return to full growth mode For personal use only Producing assets Range Gas Project Exploration Programme Dukas • Production capacity is • Development could • $51 million exploration • Multi-TCF target sufficient to satisfy nearly double existing programme targeting • Well suspended due to existing
Slide 10: Key takeaways
Key takeaways For personal use only Prudent financial management to ensure financial resilience during market downturn Significant growth strategies remain valid with company-changing potential Focus is to restart and accelerate growth ASAP “We have taken prudent steps to conserve resources an
Slide 11: Notice and legal disclaimer
Notice and legal disclaimer For personal use only 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 (“
Slide 12: Contact and Further Information
For personal use only Level 7, 369 Ann Street Brisbane QLD 4000 Australia Contact and +61 (0)7 3181 3800 Further Information info@centralpetroleum.com.au This ASX announcement was approved and authorised for release by Leon Devaney, Managing Director and Chief Executive Officer. www.centralpetroleum