Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Good Oil Conference 2019
21 slides from Cue Energy Resources's conference presentation, Sep 11, 2019
Slide 1: Cue Energy Resources Limited - Good Oil Conference
CUE ENERGY RESOURCES LIMITED For personal use only ASX:CUE Good Oil Conference 11 Sept 2019 Good Oil Conference Cue Energy Resources Limited Perth 13th September 2018 www.cuenrg.com.au
Slide 2: Disclaimer and Important Notice
Disclaimer and Important Notice This presentation is for the sole purpose of preliminary background information to enable recipients to review the For personal use only business activities of Cue Energy Resources Limited(ASX: CUE). The material provided does not constitute an invitation, solicitatio
Slide 3: Corporate overview
Corporate overview ASX:CUE Capital Structure Share price and volume For personal use only Share Price ( 9 Sept 2019) 9.7c 0.12 2000000 1800000 Shares on Issue 698,119,720 0.1 1600000 1400000 Market capitalisation (9 Sept 2019) A$68 million 0.08 1200000 Cash (June 30 2019) A$26.2 million 0.06 1000000
Slide 4: Investment Highlights
For personal use only Investment Highlights Production • $25.7 million production revenue • $12.8m net cash flow from operations Development • Paus Biru gas discovery Exploration • Farmouts secured and Ironbark-1 drilling 2020 • PB-1 well drilling November + 2 other Indonesian wells planned 4
Slide 5: Regional Assets
Regional Assets Indonesia For personal use only Exploration Mahakam Hilir PSC (Op) Mahato PSC Jakarta office Indonesia Production/Dev Sampang PSC New Zealand Production PMP3816 (Maari) Australia Exploration WA-359-P Melbourne WA-409-P Head office WA-389-P (Op) 5
Slide 6: FY19 Full Year Results
FY19 Full Year Results Cash up, costs down A$million Net Cashflow from Operations • Revenue $25.7 million For personal use only 14 $12.8m • Profit $8.5 million 10 • Production costs down 27% 6 • 54% increase in cash 2 • No debt -2 FY17 FY18 FY19 A$million Production costs A$million Cash 25 30 $26.2m
Slide 7: Production
For personal use only Production 7
Slide 8: Maari Oil
For personal use only Maari Oil • $11 million FY19 revenue • Significant production increase in 2019 attributable to • MR6A ESP upgrade • MR5 Conversion to water injector & increased injection rates • Sustained increase in production has focussed JV on planning for a longer life asset • MR3 workover
Slide 9: Sampang Gas
For personal use only Sampang Gas • $15 million FY19 revenue from Oyong and Wortel gas fields • Direct production costs down 60% YoY due to simplified gas production system • Fixed priced gas contracts with high demand electricity producer • Additional compression at Grati onshore processing plant a
Slide 10: Development
For personal use only Development 10
Slide 11: Paus Biru Gas Discovery
Paus Biru Gas Discovery Successful near field exploration For personal use only • Paus Biru-1 exploration well in the Sampang PSC, Indonesia, drilled to 710m • Gas discovery with 13.8 mmcfd flow achieved on test • Estimated net gas pay of 29 metres intersected across the primary Mundu reservoir targ
Slide 12: Paus Biru Development Planning
Paus Biru Development Planning • Paus Biru Plan of Development (POD) process underway For personal use only • Simple, proven, development concept is being considered • Single production well with well head platform (WHP) • 27km pipeline to existing Oyong WHP • Commercialisation through existing onsh
Slide 13: Exploration
For personal use only Exploration 13
Slide 14: Ironbark (WA-359-P)
Ironbark (WA-359-P) Company changing opportunity in 2020 • Ironbark prospect: 15tcf best case prospective For personal use only recoverable gas resource • Success case value has potential to be multiples of Cue current value Farmout Complete International Operator Strong partners Ironbark-1
Slide 15: Ironbark Prospect
Ironbark Prospect A giant untested structure TR17 structure map with Ironbark prospect • Up to 400km2 fault bounded horst structure with North/South dip For personal use only closure • Deep Mungaroo reservoir interval; 150-300m reservoir thickness at Ironbark • 500m thick regionally extensive Mungar
Slide 16: Ironbark Upside Potential
Ironbark Upside Potential WA-409-P (Cue 20%*, BP 80%) WA-389-P (Cue 100%) For personal use only • Adjoining permit north of WA-359-P • Adjoining permit northwest of WA-359-P • Contains high case Ironbark plus NE Ironbark • Blue Gum lead within the Banambu Horst is prospect part of the same structura
Slide 17: Mahato PSC wells planned near term
Mahato PSC 2 wells planned near term Bangko • Located in the heart of the most prolific 670 million bbl For personal use only petroliferous basin in South East Asia with nearby multi billion barrel producing fields • Underexplored since the 1980s Minas 3.5 billion bbl • Permit targets typically expe
Slide 18: Mahato PB prospect
Mahato PB prospect PB positioned between major producing fields • PB prospect is 3 way dip closed For personal use only structure • Formed by splay faults coming off the main large Petapahan thrust/wrench system • Located between Petapahan (170million bbl) & Kotabatak (390 million bbl) fields • Earl
Slide 19: Mahakam Hilir PSC
Mahakam Hilir PSC Indonesian onshore Appraisal • Onshore Kutei Basin, East Kalimantan, a proven petroleum For personal use only province Naga Utara NU-4 well (proposed) • East Kalimantan announced as new Indonesian capital city – increased demand from 1 to 2 million people • Low cost Naga Utara 4 (N
Slide 20: Investment Highlights
For personal use only Investment Highlights • Stable revenue and strong cashflow • Cash for growth and no debt • Paus Biru gas discovery POD underway • PB-1 well drilling onshore Indonesia this year • 2 further Indonesian wells planned near term • Ironbark: potential company changing well in 2020 20
Slide 21: For personal use only
For personal use only 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