Central Petroleum Limited · ASX:CTP
Central Petroleum — FY2024 Earnings Presentation
14 slides from Central Petroleum's earnings presentation, Oct 1, 2024
Slide 1: FY24 Results and Update
For personal use only FY24 Results and Update October 2024 Central Petroleum Limited (ASX:CTP)
Slide 2: NGP outages impact results, outlook improved
NGP outages impact results, outlook improved Sales volume: 4.5 PJe (FY2023: 4.8 PJe) Sales revenue: $37.2m (FY2023: $39.3m) • Down 7% from FY2023 • Down 5% from FY2023 For personal use only • Several Northern Gas Pipeline (NGP) closures throughout the year • NGP outages estimated to have impacted re
Slide 3: Strong balance sheet
Strong balance sheet Reduced debt Positive net cash position For personal use only Loan balance $23.4m (FY2023: $28.1m) Pre-sold gas has been fully-delivered at 31 December 2023 Increasing free cash flows expected Outlook Increasing free cash flows expected ▪ New firm contracts with the NT Governmen
Slide 4: New contract mitigates CY2024 NGP risk
New contract mitigates CY2024 NGP risk Mitigates impact of NGP closures during 2024 For personal use only ➢ Supply up to 8.6 PJ of gas to the Low NT winter end of 2024 (Central share 2.1 PJ) NGP Outages New NT demand while contract NGP closed ➢ “As-available” terms activated FY2024 ➢ Started late Ap
Slide 5: Major milestone: NT Government GSA to bolster forward revenues
Major milestone: NT Government GSA to bolster forward revenues Firm production contracted until 2030 “This is the most transformative gas sale agreement that Central has ever executed, with an increase in our historical average portfolio contract price and an anticipated increase in For personal use
Slide 6: NT gas market in transition
NT gas market in transition Significant NT market shortfall NT production required For personal use only being balanced by diverted LNG to resume NGP exports ➢ Significant decline in Blacktip supply since 2022 ➢ Inpex & temporary DLNG tail gas have helped to plug the gap ➢ Mereenie / Palm Valley pro
Slide 7: New Mereenie wells to capture market opportunity
New Mereenie wells to capture market opportunity New offtake agreement underwrites investment in production capacity Drilling program For personal use only • Two development wells targeting crestal locations • Targeting gas production increase of up to 6 TJ/day (100% JV) • Expected to produce over 2
Slide 8: Growth opportunities
Growth opportunities Palm Valley expansion • Last two Palm Valley wells have overperformed, leading to a ~40% increase in 2C For personal use only contingent gas resource for future wells • Planning has commenced for two new wells at Palm Valley Mereenie Stairway Sandstone appraisal • The Stairway S
Slide 9: Key FY2025 Activities
Key FY2025 Activities For personal use only ✓ Successful EOI process concluding with the NTG GSA that achieved all EOI objectives ✓ FID for two new wells at Mereenie to increase production ➢ Re-start sub-salt exploration through farmout – potential to commence drilling at Mt Kitty within 6 to 9 mont
Slide 10: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information CENTRAL PETROLEUM LIMITED (ASX:CTP) 10
Slide 11: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Reserves and contingent resources Reserves Contingent Resources For personal use only Proved Proved & Best estimate Central – existing producing fields Probable (Central share) Units 1P 2P 2C Mereenie Oil mmbbl 0.30 0.36 0.05 Mereenie Gas PJ 28.1 36.6 4
Slide 12: Appendix 1: Resources information
Appendix 1: Resources information Prospective Resources Units Low Estimate Best Estimate High Estimate Mean Prospective Resources For personal use only Dukas (EP112) Central 45% interest* The volumes of Prospective Resources included in this report Helium Bcf 7.7 51.3 212.4 89.6 represent the unrisk
Slide 13: 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 or er to investigate the affairs of entral etroleum Lt “ ompany” This presentation
Slide 14: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 For personal use only Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au This presentation was approved and authorised for www.centralpetroleum.com.au release to ASX by Leon Devaney, Managing Director and Chief Executiv