Slide 1: Investor Update
For personal use only Investor Update 17 March 2023 Central Petroleum Limited (ASX:CTP)
Slide 2: 1H FY2023 highlights
1H FY2023 highlights For personal use only Successful PV12 production well: PV12 produced over target at over 10 TJ/day; expected payback <12 months Solid underlying revenue: $16.7m revenue off back of strong oil and gas prices Secured Debt Finance: Additional $12m available to fund new development
Slide 3: Chair: Strategic review underway
Mick McCormack For personal use only Central Petroleum Limited Chair ➢ Strategic review underway ➢ RBC Capital Markets completed an initial strategic review late last year ➢ Various opportunities for the Company to crystalise shareholder value have been identified and are currently being explored ➢
Slide 4: Solid operational performance (Half year to December 2022)
Solid operational performance (Half year to 31 December 2022) For personal use only Steady performance ➢ Sales revenue (1H FY2023): $16.7m ➢ Strong markets: Realised gas price up 23% on 1H FY2022 Sales volume 2.23 PJe Underlying EBITDAX $5.3m Net loss $11.2m • Down 10% on previous half year • Down $
Slide 5: Palm Valley production boost
Palm Valley production boost For personal use only PV12 production well commenced production in late November ➢ Produced at over 10TJ/day by late December ➢ Has more than doubled the Palm Valley field production rate ➢ Has already generated over $3m of revenue ➢ On track for payback of capital withi
Slide 6: Funding
Funding For personal use only Planned growth activities are fully funded Additional debt capacity to fund future development Funding source $11m available at 31 December 2022 Planned activity Remaining Debt facility Peak Helium Working Additional debt capacity has been added to fund development acti
Slide 7: Range CSG Project
Range CSG Project Total Produced Water Total Produced Gas For personal use only 600 90 Water Production Rate (Bbl/d) Gas Production Rate (GJ/d) 80 500 70 400 60 50 300 40 200 30 20 100 10 0 0 ▪ Three single-well pilots (Range 6, 9, 10) have been on pump for ~1 year ▪ Since November 2022, water rates
Slide 8: Southern Amadeus Sub-salt Exploration – World-class potential
Southern Amadeus Sub-salt Exploration – World-class potential For personal use only Success in the Southern Amadeus could deliver multi-tcf of Natural Gas plus world-class Helium quantities High Helium potential in Amadeus Basin ▪ >95% of Helium supply is a by-product of gas or LNG ▪ >0.3% Helium is
Slide 9: Southern Amadeus Sub-salt Exploration – Hydrogen / Helium / Hydrocarbons
Southern Amadeus Sub-salt Exploration – Hydrogen / Helium / Hydrocarbons For personal use only Three wells commencing in late 2023 / early 2024 MK/JB-2* lateral designed for flow testing Mahler-1 basement fracturing + 3 secondary targets Dukas-2 targeting fractured basement through thinner salt Key
Slide 10: 12-Month historical short term trading market pricing
12-Month historical short term trading market pricing For personal use only 60 2022 2023 Sydney Brisbane (Wallumbilla) 50 40 (A$/GJ - exante) 30 QCLNG Outage (1 LNG train) 20 QCLNG Outage (1 LNG train) 10 Coal generation outages & colder weather - Mar 22 Apr 22 May 22 Jun 22 Jul 22 Aug 22 Sep 22 Oct
Slide 11: Near-term activity
Near-term activity For personal use only Zevon seismic (100%) Mereenie production Subsalt Gas, helium and enhancement (25%) hydrogen target Planning underway for: Seismic planned 2023 • up to 5 well recompletions(4) Farm-out candidate L6 • 2 new development wells(4) Mamlambo drilling (100%) * OL4/5
Slide 12: The year ahead
The year ahead For personal use only Central is well positioned to take advantage of strong domestic gas markets and a major 3 well sub-salt exploration program Increasing production to supply strong gas markets • PV12 well online • Mereenie recompletions in 1H CY2023 • Mereenie development wells 2H
Slide 13: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information
Slide 14: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information For personal use only Reserves and contingent resources Reserves Contingent Resources Proved Proved & Best estimate Central – existing fields Probable (Central share) Units 1P 2P 2C Mereenie oil mmbbl 0.37 0.41 0.05 Mereenie gas PJ 30.5 39.2 45.6 Palm V
Slide 15: Appendix 1: Prospective Resources – (Central Share)
Appendix 1: Reserves and Resources information For personal use only Prospective Resources – (Central Share) Low Estimate Best Estimate High Estimate Mean Target Permit P90 P50 P10 Lead / Prospect Permit formation Interest Recoverable Recoverable Recoverable Recoverable (mmbbls) (mmbbls) (mmbbls) (m
Slide 16: 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 17: Contact and Further Information
For personal use only 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 Executiv