Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (June 2024)
17 slides from Cue Energy Resources's investor presentation, Jun 4, 2024
Slide 1: Cue Energy: Strong Growth & Capital Returns
Cue Energy Strong Growth & Capital Returns 4 June 2024 ASX:CUE INVESTOR PRESENTATION CUE ENERGY RESOURCES LIMITED
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: Shareholder Value Unlocked Through Dividend Payment
Shareholder Value Unlocked Through Dividend Payment Dividend Paid on the Back of Continued Strong Financial Performance • Despite consistent strong operational and financial Market Capitalisation performance over several years, Cue continues to trade $69.84 million (31 May 2024) on very modest valua
Slide 4: Dividend Policy Announcement Boosts Cue's Valuation
Dividend Policy Announcement Boosts Cue’s Valuation Highlighting Strong Free Cash Flow and Valuation Discrepancy – Valuation Multiples Remain Attractive 0.12 6,000,000 0.11 5,000,000 0.10 4,000,000 2c Dividend 2c Dividend Declared 29 February 2024 Paid 5 April 2024 0.09 3,000,000 0.08 2,000,000 0.07
Slide 5: Supportive Macro Commodity Environment
Supportive Macro Commodity Environment Leveraged Exposure to International Oil and Australian Natural Gas Pricing USD and AUD Brent Oil Prices Australian (Wallumbilla Hub) Natural Gas Prices 160 40 150 35 140 30 130 25 120 110 20 100 A$/bbl 10 Year Ave = A$92.62/bbl 15 90 10 80 A$/GJ 10 Year Ave U$/
Slide 6: 1H FY2024 Financial Highlights
1H FY2024 Financial Highlights Demonstrating Strong Financial Performance with a 22% Revenue Increase, reaching $29.3 Million Net Profit After Tax EBITDAX Revenue $9.1 million $19.3 million $29.3 m 34% YoY 21% YoY Indonesia $16.4m Australia $6.3m New Zealand $6.5m Production Net Cash (30 April 2024)
Slide 7: Diverse Portfolio of Production Assets
Diverse Portfolio of Production Assets Generating Strong Free Cash Flow from Four Key Production Assets Mahato PSC Jakarta Interest 12.5% Office Mereenie/Palm Onshore oil production Valley/Dingo Interest 7.5 – 15% Onshore gas and oil production Maari Sampang PSC Interest 5% Interest 15% Offshore oil
Slide 8: Strong Asset Base Positioned for Continued Growth
Strong Asset Base Positioned for Continued Growth 1H FY2024 Showcases Ongoing Strong Operational and Financial Performance Six Monthly Operating Revenue A$ million 35 30 25 20 15 10 5 0 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Indonesia Australia New Zealand 8 Investor Presentation | June 20
Slide 9: Exposure to both Oil and Natural Gas
Exposure to both Oil and Natural Gas Asset Diversity and Exposure to Increasing Commodity Prices 1H FY2024 Revenue by Country Net Production Australia 700,000 Barrels of oil equivalent 22% Indonesia 600,000 56% New Zealand 22% 500,000 400,000 1H FY2024 Revenue 300,000 by Product 200,000 Gas 35% 100,
Slide 10: Mahato PSC: Indonesia
Mahato PSC: Indonesia Exposure to Brent Oil Prices with Low-Cost Oil Development Location: Central Sumatra Basin Cue Interest: 12.5%* 1H FY2024 Cue Revenue: $11.9 million (+25% YoY) Field Production: >6000 bopd (100%) Outlook • To date, 22 production wells have been drilled in the PB field as part o
Slide 11: Sampang PSC: Indonesia
Sampang PSC: Indonesia Gas Production with Development Upside Powering East Java Location: Offshore East Java Cue Interest: 15% 1H FY2024 Cue Revenue: $4.5 million Field Production: ~21 mmcfd (100%) average Q3 FY2024 Outlook • The Oyong and Wortel fields continue to produce as expected, consistently
Slide 12: Australian Onshore Gas
Australian Onshore Gas Mereenie, Palm Valley and Dingo Fields Suplying Natural Gas to Northern Territory and Eastern Australia Location: Onshore Amadeus Basin, NT Cue Interest: Mereenie 7.5%, Palm Valley 15%, Dingo 15% 1H FY2024 Cue Revenue: $6.3 million (+20% YoY) Field Production: ~40Tj/d (100%) f
Slide 13: Maari Oilfield: New Zealand
Maari Oilfield: New Zealand Focusing on Production Optimisation and Cost Reduction Location: Offshore Taranaki Basin Cue Interest: 5% 1H FY2024 Cue Revenue: $6.5 million Field Production: ~5000 bopd (100%) average Q3 FY2024 Outlook • The MR6a well workover aims to suspend the existing production zon
Slide 14: Sustainability
Sustainability Working with Partners to Reduce Emissions and Support Local Communities 14 Investor Presentation | June 2024
Slide 15: Cue Continues the Pursuit of Profitable Growth
Cue Continues the Pursuit of Profitable Growth Leveraging Existing Assets and Strategic New Ventures for Significant Future Upside Continued high activity levels expected through 2024 and into 2025, to drive production growth: • Mereenie: Ongoing development of the Mereenie field, with two new wells
Slide 16: Strong Revenue Growth & Dividend
Strong Revenue Growth & Dividend Delivering Strong Free Cash Flow, High Margin Investment with an Attractive Dividend Cue's four production Net Profit After Tax up Investment in high- assets deliver strong 34% YoY to $9.1M in 1H margin gas / oil assets performance, boosting FY2024, reflecting a focu
Slide 17: Cue Energy
Cue Energy Level 3, 10 Queen Street Melbourne, Victoria, AUSTRALIA 3000 P (+61) 3 8610 4000 F (+61) 3 9614 2142 E mail@cuenrg.com.au W www.cuenrg.com.au ASX:CUE
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