Criterium Energy Ltd · TSXV:CEQ
Criterium Energy — Shareholder Meeting (June 2025)
26 slides from Criterium Energy's shareholder meeting presentation, Jun 17, 2025
Slide 1: Annual General Meeting
Annual General Meeting June 17, 2025 Criterium’s Tungkal PSC – South Sumatra, Indonesia Criterium Energy Ltd. (TSXV: CEQ)
Slide 2: Disclaimers and Key Terms
Disclaimers and Key Terms The information in this presentation is provided as of June 17, 2025 for informational purposes only, is not complete and does not contain all material information about Criterium Energy Ltd. or the management team ("Criterium” or “Company” or “Management"), including impor
Slide 3: Introducing Criterium Energy
Introducing Criterium Energy A responsible SE Asia-focused energy company primed for growth Favorable market with expanding energy demand Energy demand growth - Supportive governments - Limited competition § Team has collectively operated >1 MMboe/d globally and >500 Mboe/d in SE Asia Developing und
Slide 4: Why SE Asia?
Why SE Asia? Tailwinds for the energy sector create a favourable environment and long runway for growth A rapidly emerging middle class is driving …where supportive governments …resulting in premium oil and gas pricing record energy demand growth in SE Asia… incentivize domestic production, SE Asia
Slide 5: Population, Energy Demand, Automobile Growth
Population 1 Energy Demand 3 +103 Population increase in SE Asia by 2050 +350 Total energy demand growth equivalent to Middle class to eclipse ENTIRE USA by 2040 adding Japan’s energy demand by 2050 Million Mtoe Automobile Growth 2 Cooling Demand 4 +775 Equates to a 200% Increase by 2050 1 new Air C
Slide 6: Criterium’s Strategy Validated
Criterium’s Strategy Validated Global Investment SE Asia Opportunity Balanced Portfolio Environment Shift in investment sentiment Stable and predictable cash flow Long-term demand growth towards hydrocarbons with upside Capital discipline and return of Push for domestic energy (and Reduced exposure
Slide 7: Criterium Activities
G CRITERIUM ENERGY Criterium Activities
Slide 8: Increased Netbacks Driven by Low-cost Initiatives
Increased Netbacks Driven by Low-cost Initiatives 40% operating netback increase despite falling oil prices Production (bbl/d)1 Operating Netbacks2 and Direct Cost (US$/bbl) Unit Cost ($/bbl)1 +37% Operating Netback1,2 45 +39% Criterium Acquisition 988 957 880 35 822 821 720 30 30 30 29 ($/bbl 21 15
Slide 9: An Active, Diverse, and Growth-oriented Portfolio
An Active, Diverse, and Growth-oriented Portfolio § Fully appraised Lengo gas field proximal to underutilized § MGH & PLT fields currently producing (~1,000 bbl/d1) infrastructure Oil Production § Growth via workovers and infill wells Offshore Gas § US$45 MM cost recovery pool net to Criterium (100%
Slide 10: Reserve Replacement and Resource Growth
Reserve Replacement and Resource Growth Demonstrated ability to increase 2P+2C to 35 MMboe 2P Reserves and 2C Resource Growth (MMboe) Oil Gas 35 3 2P Reserves3 2C Resource4 4.6 MMboe 30 MMboe 100% Oil 90% Gas 4.6 27 22 US$60 MM NPV101 2025 budget expected to move 15 bcf of SE- MGH Resource to Reserv
Slide 11: Converting Discovered Gas to Reserves
Converting Discovered Gas to Reserves For a gas discovery to classify as reserves, the following criteria must be met ü Well encounters reservoir interval that indicates gas pay ü Successful production test, indicating commercial rates ü Approved and active Plan of Development (“POD”) ü Signed and a
Slide 12: Gas Development Options
Gas Development Options Optionality of egress permits maximum flexibility and supports lower development costs Tungkal PSC – Gas Resource Key existing infrastructure To Duri § Built by Conoco Phillips TRGP & TRGP-TGI § Currently operating by Jindi Pipeline § >30 MMscf/d capacity § Sales point for TR
Slide 13: SE-MGH Project Update
G CRITERIUM ENERGY SE-MGH Project Update 13
Slide 14: SE-MGH Project Update
SE-MGH Project Update § Single well development Development Concept § New 14 km pipeline to TRGP gathering system § Sale via TGI gas transmission line US$3 - $5 MM § Road and well pad re-established Criterium Capex § SE-MGH onsite facilities § Pipeline ROW and tie-in to TRGP Capex funded by 3rd Part
Slide 15: SE-MGH Development Milestones
SE-MGH Development Milestones Today Q1 2026 (June 2025) SEM-01 Well Gas Sales Project First Gas Test Agreement Development P § Utilize Criterium service rig § Long term take or pay fixed price contract § SE-MGH on production ü Confirmed development plans § Confirms well deliverability § Ensures stab
Slide 16: Outlook
Outlook Diversifying and doubling current production by Q1 2026 with further growth potential in the mid-term Stable oil production § 2025 production guidance of 1,000 and 1,200 bbl/d forecast § Provides stable foundation for operational planning and capital program Immediate focus on gas § Planning
Slide 17: Supporting Documents
G CRITERIUM ENERGY Supporting Documents 17
Slide 18: Corporate Snapshot
Corporate Snapshot Stable foundation for growth Capital Markets Select Balance Sheet Data Symbol CEQ.V Cash1 C$1.6 MM / US$1.2 MM Share Price (May VWAP) C$0.06 2P Reserves2 4.6 MMbbl Market Capitalization C$9.5 MM5 2C Resource2 161.1 bcf + 3.2 MMbbls 52 Week High/Low C$0.115 / $0.045 Gross Debt3 C$3
Slide 19: Bulu PSC
Bulu PSC Material gas development with access to underutilized infrastructure Fully appraised Lengo gas discovery Criterium Energy Acreage Kepodang Field Java Sea § Discovered in 2008 (Lengo-1) and appraised in 2013 (Lengo-2) Oil Field Gas Field § Prolific Kujung carbonate reservoir Gas Pipeline ~25
Slide 20: West Salawati PSC
West Salawati PSC High-margin exploration upside utilizing established oil transportation network High-Quality Light Oil Opportunity Material 0.9 MMbbl1: Remaining resource in the onshore BLL-A1 field. (1.5% Recovered) discovered and 23.5 MMbbl1: Cumulative STOIIP of the onshore BLL Cluster, defined
Slide 21: 2024 Reserve & Resource Summary
2024 Reserve & Resource Summary Source: 2024 Report and NSAI Bulu Report PSC Field Property Gross Valuation (USD MM NPV10) Reserves Oil (MMbbl) 1P 2P 3P 1P 2P 3P Tungkal PSC MGH, PLT 1.4 4.4 9.9 4.3 58.0 123.0 West Salawati PSC BLL-A - 0.1 0.2 - 1.9 5.5 Contingent Resources – Development Pending 1C
Slide 22: Balancing Financial and Social Profit
Balancing Financial and Social Profit How we achieve our results is important Our approach to sustainability is aligned with the United Nations sustainable development goals and underpinned by our drive to support growing economies and communities by responsibly producing and developing reliable ene
Slide 23: The Criterium Energy Investment Opportunity
The Criterium Energy Investment Opportunity Value creation rooted in operational excellence, technology and a collaborative approach Attractive Organic, Targeted Commercialize Deleveraging Jurisdiction self-funded reserves gas to support growth developments growth production growth Strong growth for
Slide 24: Notes
Notes Slide 3 -Introducing Criterium Energy 1 Reserve, Resource, and Valuation information is contained in the 2024 Report 2 Calculation of Reserve Replacement Rations is based on a Report commissioned by Mont D’Or Petroleum Ltd. and prepared by ERCE Limited dated March 15,2023, which was prepared i
Slide 25: Notes
Notes Slide 16 – Outlook 1 Volumetrics are based on 2024 Reserve Report. Production rates are Low, Base, and High production profile cases for SE-MGH as per the 2024 Report 2 Management estimate based on previously disclosed NSAI Report Slide 18 – Corporate Snapshot 1 Includes Cash and cash equivale
Slide 26: For more information
For more information Phone: +1 (403) 668 1630 Website: www.criteriumenergy.com Email: info@criteriumenergy.com X (formerly Twitter): https://x.com/CriteriumEnergy LinkedIn: https://www.linkedin.com/company/criterium-energy/ YouTube: https://www.youtube.com/@CriteriumEnergyCEQV 26