Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — RIU Good Oil and Gas Energy Conference 2023
15 slides from Cue Energy Resources's conference presentation, Sep 7, 2023
Slide 1: Cue Energy – RIU Good Oil and Gas Energy Conference
Cue Energy RIU – Good Oil and Gas Energy Conference 7 September 2023 CUE ENERGY RESOURCES LIMITED ASX:CUE
Slide 2: Disclaimer and Important Notices
Disclaimer and Important Notices Various statements in this document may constitute statements relating to intentions, opinion, expectations, present and future operations, possible future events and future financial prospects. Such statements are not statements of fact and are generally classified
Slide 3: Company Overview
Company Overview Oil and Gas production from a diverse portfolio of revenue producing projects Diversified production assets with near Market Capitalisation $41.9 million term development growth (4 September 2023) Share price (4 September 2023) $0.06 Strong cash generation and profitability Cash (30
Slide 4: FY2023 Highlights
FY2023 Highlights Net Profit After Tax EBITDAX Revenue $15.2 million $30.9 million $51.6m 5% YoY 5% YoY Indonesia $30.2m Australia $11.9m New Zealand $9.5m Production Net Cash 16% YoY 630,000 boe $11.2 million 5% YoY Realised Prices Oil $126/bbl Gas $9.1/GJ 4
Slide 5: A Unique Portfolio
A Unique Portfolio Strong free cash flow generation from 4 Production Assets Jakarta Office Mereenie/Palm Valley/Dingo Mahato PSC Interest 7.5 – 15% Interest 12.5% Onshore gas and oil production Onshore oil production Sampang PSC Interest 15% Offshore gas production Maari Interest 5% Offshore oil pr
Slide 6: Poised for Continued Production Growth
Poised for Continued Production Growth FY23 was another strong year post transformational growth in FY22 FY23 Production by Country Net Production 700,000 Barrels of oil equivalent (boe) Australia Indonesia 38% 50% 600,000 500,000 New Zealand 400,000 12% 300,000 FY23 Production by Product Oil & 200,
Slide 7: Strong Operating Revenue and Cashflow
Strong Operating Revenue and Cashflow Profitable growth in FY22-23 through asset acquisition and development drilling Six Monthly Operating Revenue A$ million 30 25 20 15 10 5 0 Dec 20 Jun 21 Dec 21 Jun 22 Dec 22 Jun 23 Indonesia Australia New Zealand 7
Slide 8: High Levels of Activity Projected for FY24
High Levels of Activity Projected for FY24 Eight new production wells drilled during FY23 in Mahato and Palm Valley High Activity levels planned to continue in 2024 to support production growth at Cue assets: • Participation in up to 7 planned development wells in Australia and Indonesia • Paus Biru
Slide 9: Mahato PSC: Indonesia
Mahato PSC: Indonesia Location: Central Sumatra Basin PB FIELD GROSS OIL PRODUCTION Cue Interest: 12.5% 7000 BOPD FY23 Cue Revenue: $18.71 million (+25% YoY) 6000 Field Production: 6,400 bopd as at 30 June 2023, 5000 from 4,700 bopd at beginning of FY23 (+36%) 4000 FY24 Outlook 3000 • PB-23 complete
Slide 10: Sampang PSC: Indonesia
Sampang PSC: Indonesia Gas production with development upside powering East Java Location: Offshore East Java Cue Interest: 15% FY23 Cue Revenue: $11.5 million Field Production: 24 mmcfd from two offshore gas fields, Oyong and Wortel producing under long-term, fixed price contracts FY24 Outlook • 20
Slide 11: Australian Onshore Gas
Australian Onshore Gas Mereenie, Palm Valley and Dingo production for NT and Eastern Australia Location: Onshore Amadeus Basin, NT Cue Interest: Mereenie 7.5%, Palm Valley 15%, Dingo 15% FY23 Cue Revenue: $11.9 million Field Production: 42TJ/d from 3 producing fields. PV-12 production well was succe
Slide 12: Maari Oilfield: NZ
Maari Oilfield: NZ Production optimisation and cost reduction focus Location: Offshore Taranaki Basin FY24 Outlook • Boost production - convert MR2 to Cue Interest: 5% water injector and MR6A recompletion FY23 Revenue: $9.5 million • Certification of the Raroa FPSO until Field Production: >5000 bopd
Slide 13: Sustainability
Sustainability Working with Partners to reduce emissions • Cue reports climate risks and emissions under the Taskforce on Climate related Financial Disclosure (TCFD) framework • Projects are underway at all joint ventures to reduce emissions from operations 13
Slide 14: Investment Highlights
Investment Highlights Production Growth, Free Cash Flow, & New Ventures with the backing of a skilled board and supportive shareholders Four strongly performing Technical and financial production assets that offer capacity to pursue a further production upside and diversified growth strategy to deve
Slide 15: Level 3, 10 Queen Street, Melbourne
Level 3, 10 Queen Street, Melbourne, Victoria, AUSTRALIA 3000 (+61) 3 8610 4000 (+61) 3 9614 2142 mail@cuenrg.com.au WWW.CUENRG.COM.AU
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