Central Petroleum Limited · ASX:CTP
Central Petroleum — Investor Presentation (March 2014)
34 slides from Central Petroleum's investor presentation, Mar 10, 2014
Slide 1: March on Production
For personal use only Central Petroleum Limited (ASX:CTP) March on Production March 2014 0
Slide 2: Disclaimer
Disclaimer For personal use only 1.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 presentation does not attempt to produc
Slide 3: Activity since the AGM (Nov 2013)
Activity since the AGM (Nov 2013) For personal use only Commenced farmout endeavours to secure joint venture partner to progress exploration activities Completed processing and interpretation of 974 km 2D Production License 6 (PL 6) Processing of 327 km 2D seismic seismic acquired by the JV. was for
Slide 4: Current Activity Focus
Current Activity Focus For personal use only 3
Slide 5: Oil and Gas Production Overview
Oil and Gas Production Overview For personal use only From March 2014, CTP will be producing oil and gas from 2 separate fields and developing a 3rd field within the Amadeus Basin Palm Valley and Dingo gas fields: 3.3PJ/year of gas sold under long‐term contracts into the NT market Surprise Oil
Slide 6: PV and Dingo Acquisition Summary
PV and Dingo Acquisition Summary For personal use only Central Petroleum Ltd (CTP) executed a binding agreement to acquire the Palm Valley & Dingo gas field assets from Magellan Petroleum in February 2014 CTP simultaneously executed a $50 million facility with Macquarie Bank, fully funding both
Slide 7: PV / Dingo Transaction Overview
PV / Dingo Transaction Overview For personal use only Purchase Price ($35M) Transaction Funding Cash requirement of transaction is fully funded $20M Cash through a $50M Macquarie debt Facility: $20M Acquisition Finance 39M CTP Shares (11.4% interest) $30M Dingo Field Development Finance Ot
Slide 8: Asset Overview
Asset Overview For personal use only Key Assets Palm Valley Field Reserves*: 53 BCF (~10 mmboe) Depth map, Pacoota sst After completion of Dingo, CTP will own a 50km pipeline giving it access to Alice Springs & NT Markets CTP will have 100% interest in all reserves & field infrastructure Estim
Slide 9: Asset Description Table
Asset Description Table Palm Valley Dingo For personal use only History Discovered in 1965 Discovered in 1981 Producing gas since 1983 Gas production is currently scheduled to begin in early CY2015 Location 120km WSW of Alice Springs 65km South of Alice Springs Area 638km2 470km2 Wel
Slide 10: Location Map – CTP assets with Palm Valley, Dingo
Location Map – CTP assets with Palm Valley, Dingo For personal use only 9
Slide 11: Strategic Drivers - Palm Valley, Dingo fields
Strategic Drivers ‐ Palm Valley, Dingo fields For personal use only 1) Quickly achieves a critical mass for operational efficiencies when combined with the Surprise oil field 2) Diversifies corporate revenues through 3 hydrocarbon fields across both oil and gas 3) Provides CTP with physical connecti
Slide 12: Palm Valley, Dingo - Upside Opportunities
Palm Valley, Dingo ‐ Upside Opportunities For personal use only The PV / Dingo acquisition provide positive cash flow and a 19% equity IRR. Potential upside exposure from: Moomba to Alice Springs pipeline would connect CTP to the East Coast Gas markets ‐ deep market / prices 30% ‐ 50% higher Mat
Slide 13: Surprise West Production Update
Surprise West Production Update For personal use only • Production licence granted 25th Feb 2014 Surprise 1 • Initial production and storage facilities installed • Final facility expansion in progress to increase operational efficiencies • Royalties payable to Govt. and Traditional Owners • Employin
Slide 14: Surprise East Drilling Update
Surprise East Drilling Update For personal use only Surprise East field has benefited from review and revision of the 3D seismic data, enhancing well location Appears consistent with the West‐side and a 2nd well should increase 2P reserves and production consistent with Surprise West‐1 Delay i
Slide 15: Conventional Exploration
Conventional Exploration For personal use only 14
Slide 16: Conventional Exploration Overview
Conventional Exploration Overview For personal use only The Amadeus Basin is a proven hydrocarbon source, with conventional production from Surprise, Mereenie, Palm Valley and Dingo CTP will have a technical understanding through production from 3 of the 4 producing fields, to be leveraged towar
Slide 17: Southern Amadeus – Drilling is imminent
Southern Amadeus – Drilling is imminent For personal use only Joint Venture with Santos complete TWT Map Mt Kitty 1 (top hole complete) Heavitree Quartzite (CTP interpretation) – Target section, Q1 2014, TD ~2033 mKB – Anticipated sales gas content (Magee‐1) • 49% hydrocarbons, 6.3% Helium Est
Slide 18: Satellite opportunities; Dingo North, Dingo South?
Satellite opportunities; Dingo North, Dingo South? N S For personal use only Ooraminna-1 (1963) Line P80-12 Gas flare, DST-4, Pioneer sst ? ? Pioneer sst Deeper Deeper target with gas flows Target(s) at Ooraminna 1 and 2 SW Santos-CTP 2013 NE Dingo North Lead Dingo Gas Field seismic Line 08 ?
Slide 19: EP-115; HVS and Pacoota conventional plays
EP‐115; HVS and Pacoota conventional plays Johnstone West For personal use only leads TWT Structure, HVS 50 km Surprise Field Large feature Mt Winter Southern flank leads Several leads Statistics Johnnys Ck 1 12,400 km2 before excise of Surprise PL Santos farm‐in block is 1,800 km2 Surprise Pr
Slide 20: Western Amadeus Basin – Frontier area
Western Amadeus Basin – Frontier area For personal use only Surprise 1 highlighted oil prospectivity of the sparsely explored western area consisting of EP 115, and EP application areas 111, 124, 133 Many areas have sparse seismic coverage, with insufficient detail to propose drilling Gravity
Slide 21: Wiso Basin – conventional and unconventional
Wiso Basin – conventional and unconventional For personal use only Material growth opportunity • Total area 43,217 km2 Gravity (courtesy DME) • Analogous geology to SGB • Potential for conventional and 15,352 km2 unconventional plays • New gravity data suggests structural trends, possible large trap
Slide 22: Pedirka basin – shifting focus, rationalisation
Pedirka basin – shifting focus, rationalisation For personal use only Large Cambrian features EP(A) 130 – Need more seismic Possible analogues – Dingo, Ooraminna gas discoveries Relatively shallow Size could justify pipelines to; – Alice Springs ~350 km – Moomba ~750 km EP 93 – Commercial cu
Slide 23: Unconventional Exploration
Unconventional Exploration For personal use only 22
Slide 24: Unconventional Exploration Overview
Unconventional Exploration Overview For personal use only >$300M in exploration focussed on unconventional gas has already commenced across CTP’s permits. CTP and JV partners Santos and Total are investing to unlock potentially vast gas reserves. CTP holds approximately 1/3 of its acreage on a
Slide 25: Unconventional potential in the Amadeus Basin
Unconventional potential in the Amadeus Basin For personal use only The Horn Valley Siltstone is a proven source rock which charged Surprise, Mereenie and Palm Valley fields. Collection of more core data is required to evaluate these encouraging characteristics, and design a test program. Gamma Ray
Slide 26: EP-115; HVS unconventional play
EP‐115; HVS unconventional play For personal use only Johnstone West HVS structure, distribution 1 Mt Winter 1 Surprise Field NW Mereenie Summary JV with Santos Proven source rock Thickness trend established Regional view – postulated areas of unconventional plays Varying maturity may open dif
Slide 27: Southern Georgina Basin - Highlights
Southern Georgina Basin ‐ Highlights For personal use only Joint Venture with TOTAL – Acquired 974 km 2D seismic in 2013 – Processing and interpretation complete Drilling – Multiple well sites agreed – Rig and all major services contracts out to tender – Boulia support office secured – Drilling
Slide 28: Southern Amadeus Basin - Highlights
Southern Amadeus Basin ‐ Highlights Seismic For personal use only – Acquired 1587 km 2D seismic – Exceeds permit year commitments – Processing near completion Drilling – Mt Kitty top hole complete, target section. – Spud date – imminent Targeting multiple play types; – Salt – Structural ERLDUN
Slide 29: Southern Amadeus Basin - Highlights
Southern Amadeus Basin ‐ Highlights For personal use only E AMSAN13B-01 NNE Observations • Very large area • Ties to existing wells are informative • Multiple play types • Salt • Structural • Fault related AMSAN13B-04 28
Slide 30: Amadeus JV – NW Mereenie highlights
Amadeus JV – NW Mereenie highlights For personal use only Permit activity – Acquired 327 km 2D seismic (commitment) – Processing near completion Targets – Unconventional – recognised target, likely inclusion in Santos’ Mereenie 2014 drilling – Conventional – possible strat traps, noting Mereenie
Slide 31: S Georgina JV Update & Plan (up to US$190M)
S Georgina JV Update & Plan (up to US$190M) For personal use only Phase 1 Phase 2 Phase 3 (initial) $60m (expansion) $51.5m $43.5m $35m May 2013 December August January December 2014 2015 2016 2016 Phase 1 November Start November Phase 1a Phase 1b Phase 2 Phase 3 2012 2013 Complete Complete Complet
Slide 32: Amadeus JV Update & Plan (up to A$150m)
Amadeus JV Update & Plan (up to A$150m) For personal use only Phase 1 Phase 2 Phase 3 $30m $60m $60m September October November October April 2013 July 2014 2015 2016 2012 2015 June 2014 Phase 1 Phase 1 Phase 2 Latest full JV Santos JV Start Latest Complete Latest Complete Commitment Announced Stage
Slide 33: Looking forward to 2014!
Looking forward to 2014! For personal use only Sustainable oil production and associated revenue stream from the Surprise Oil Field, and the drilling of Decision required by farminee the Surprise East 1 well Santos to commit to drill and Granting of a Production fund an exploration well in Licence a
Slide 34: Contact Details
Contact Details For personal use only Central Petroleum Limited 56‐58 Jephson St., Toowong, QLD PO Box 1571, Toowong DC Qld 4066. Tel: +61 7 3181 3800 Fax: +61 7 3181 3855 Website: www.centralpetroleum.com.au 33
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