Central Petroleum Limited · ASX:CTP
Central Petroleum — Shareholder Meeting (November 2019)
23 slides from Central Petroleum's shareholder meeting presentation, Nov 7, 2019
Slide 1: Accelerating Forward
Accelerating Forward 07 November 2019 Central Petroleum Limited (ASX:CTP)
Slide 2: Key milestones (past 12-Months)
1. Resources are as at 15 August 2019 and were independently certified by Netherland, Sewell & Key milestones (past 12-Months) Associates. These resources were first reported to the market on 20 August 2019. PJs rounded to nearest full PJ. Central Petroleum Limited is not GAP completed (2 wells an
Slide 3: 2019 CY2020 exploration programme
2019 CY2020 exploration Amadeus exploration programme CY2020 exploration programme RangeGas Range GasProject Project Palm Valley + Dingo + Mereenie (connected to east coast market) CENTRAL PETROLEUM LIMITED (ASX:CTP) 3
Slide 4: Range Gas Project
Range Gas Project Accelerating east coast gas supply CENTRAL PETROLEUM LIMITED (ASX:CTP) 4
Slide 5: Queensland CSG exploration success
Queensland CSG exploration success Exploration results indicate a highly prospective CSG block deep enough for gas content shallow enough for permeability three target production zones enhanced by a structural nose (folds) evident through the block Large NSAI certified “development pendi
Slide 6: Project Range in context
Project Range in context Range Gas Project acreage is 77km2 with 270 PJ 2C Resource1 surrounded by major CSG developments and infrastructure. Other nearby recently reported CSG projects2: The Ironbark Project3 recently traded at $231M with last reported reserves of 129PJ 2P, 192 PJ 3P. The acreage
Slide 7: Accelerated Project Range schedule
Accelerated Project Range schedule Calendar year 2019 2020 2021 2022 2023 Expl. Pilot 2P 2C 1st gas Gas at plateau drilling online booked Final Investment Decision (FID) Field activities Land access, development plan, Construction and commissioning FEED, tendering, long-lead items Native Title / Pre
Slide 8: 2020 Exploration Programme
2020 Exploration Programme CENTRAL PETROLEUM LIMITED (ASX:CTP) 8
Slide 9: CY2020 Exploration programme
CY2020 Exploration programme Mamlambo (target 29MMbbl oil)1 Large structure defined by existing seismic targeting the same proven oil bearing reservoirs at Surprise. Mereenie Stairway (target 54PJ)2,3 Reperforating and testing existing wells. Undeveloped section of Mereenie with potential to con
Slide 10: Resources Estimates
Resources Estimates The volumes of Prospective Resources included in this CY2020 Exploration summarised presentation represent the unrisked recoverable volumes derived from monte carlo probabilistic volumetric analysis for each prospect as at 11 October 2019. 1. Lower-risk exploration and appraisal
Slide 11: Dukas-1
Dukas-1 Updating the status of this exciting exploration target CENTRAL PETROLEUM LIMITED (ASX:CTP) 11
Slide 12: Dukas-1 background
Dukas-1 background The Dukas-1 exploration well is targeting the sub-salt section of the Amadeus Basin on a large regional Multiple large high with multi-Tcf potential ‘Dukas-like’ Extremely high pressure features are encountered at 3,700m, just above seen the primary target (approaching through
Slide 13: Dukas-1 Current activity and forward plan
Dukas-1 Current activity and forward plan Acquired wireline logs, mud gas samples, rotary sidewall cores, zero offset and offset VSP Updating models Play Element Indications Assessing stress conditions, the presence and degree of Presence of overpressure and its possible causes Source hydrocar
Slide 14: Financial Performance & Balance Sheet
Financial Performance & Balance Sheet CENTRAL PETROLEUM LIMITED (ASX:CTP) 14
Slide 15: September quarter sales
September quarter sales Sale volume of 3.5 PJE, compared to 4.0 PJE in the preceding June quarter. The decrease in sales volume largely reflect: cessation of Mereenie gas overlifting (0.4 PJ); an extended planned outage at the Northern Gas Pipeline (NGP) (0.2 PJ); and A decline in producti
Slide 16: Strong CY2019 financial performance (post-NGP commissioning)
Strong CY2019 financial performance (post-NGP commissioning) March June Sept Metric Unit Comment Qtr. Qtr. Qtr. Sales volume PJE 3.7 4.0 3.5 Includes the gas over-lift at Mereenie and purchased gas sold Gas overlifts in previous quarters have provided additional cash flow - includes overlift PJE 0.6
Slide 17: Other updates
Other updates Refinancing: Plan to initiate DD with a preferred lender shortly 2020 exploration farm-out will impact refinancing required (pro-rata reduction) Refinancing to be completed on completion of the farm-out (target mid-2020) or earlier Gas Marketing: East coast demand and prici
Slide 18: Investment Drivers
Investment Drivers CENTRAL PETROLEUM LIMITED (ASX:CTP) 18
Slide 19: 2020 Growth pipeline
1. Refer context of resource certification on page 2 2020 Growth pipeline 2. See page 2 for full context of volumes quoted and Cautionary Statement Production CY2020 Medium to Long Range Gas Project Assets Exploration Term Exploration • Optimise sales volumes • Progressing towards a • Execute $51 mi
Slide 20: Potential share price catalysts
Potential share price catalysts CY2020 21 Catalyst Q1 Q2 Q3 Q4 Q1 Dukas forward plan Q4 - Debt refinancing Range Pilot Project and flow tests Farm-down of NT operations and exploration tenure CY2020 Stairway appraisal1 CY2020 exploration results Production boost from low-risk explorati
Slide 21: Compelling Investment Proposition
Compelling Investment Proposition Fast growing oil Resource & gas producer positions in the NT and Qld Connected to Generating free the east coast cashflow from market operating assets Extensive under- Large near-field explored reserve growth portfolio in potential proven basins Strong management te
Slide 22: Notice and legal disclaimer
Notice and legal disclaimer 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 (“Company”). This presen
Slide 23: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 Australia +61 (0)7 3181 3800 Contact and Further Information Investor and media enquiries: info@centralpetroleum.com.au Helen McCrombie at Citadel- MAGNUS T: +61 (0)2 8234 0103 M: +61 (0)411 756 248 www.centralpetroleum.com.au CENTRAL PETROLEUM LIMITED (ASX:
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