Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (October 2023)
16 slides from Cue Energy Resources's shareholder meeting presentation, Oct 31, 2023
Slide 1: Annual General Meeting
Cue Energy Annual General Meeting ASX:CUE 31 October 2023
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: FY23 Highlights - Another Strong Year
FY23 Highlights - Another Strong Year Cue Energy reported further impressive operational and financial performance Revenue 16% YoY increase to $51.6 million Market Capitalisation (25 October 2023) $44.0 million Profit remained high at $15.2 million Share price EBITDAX of $30.9 million (25 October 20
Slide 4: FY23 Financial Highlights
FY23 Financial Highlights Net Profit After Tax EBITDAX Revenue $15.2 million $30.9 million $51.6m 5% YoY 5% YoY Indonesia $30.2m Australia $11.9m New Zealand $9.5m Production Net Cash 16% YoY 630,000 boe $11.2 million 5% YoY ($17.4 m at Sept 30 2023) Realised Prices Oil $126/bbl Gas $9.1/GJ (1) As 3
Slide 5: A Unique Portfolio
A Unique Portfolio Strong free cash flow generation from four Production Assets Jakarta Office Mahato PSC Mereenie/Palm Valley/Dingo Interest 7.5 – 15% Interest 12.5% Onshore gas and oil production Onshore oil production Sampang PSC Interest 15% Offshore gas production Maari Interest 5% Offshore oil
Slide 6: Continued Growth Momentum
Continued Growth Momentum FY23 strong operational performance backed up a transformational FY22 FY23 Production by Country Net Production Australia Indonesia Barrels of oil equivalent 700,000 38% 50% 600,000 500,000 New Zealand 12% 400,000 FY23 Production by Product 300,000 Oil & Condensate 200,000
Slide 7: Robust Revenue and Cashflow
Robust Revenue and Cashflow Management focused on sustainable Growth Six Monthly Operating Revenue A$ million 30 25 20 15 10 5 0 Dec 20 Jun 21 Dec 21 Jun 22 Dec 22 Jun 23 Indonesia Australia New Zealand 7
Slide 8: Production Base: Replacing 2P Reserves
Production Base: Replacing 2P Reserves Maintaining our Reserve Base through high value add investments 105% FY23 Reserves Replacement ratio 4.8mmboe Contingent resource 1) The reserves included in this graphic are as per the updated statements released to the market in the 2) The calculation is perf
Slide 9: Mahato PSC: Indonesia
Mahato PSC: Indonesia Location: Central Sumatra Basin PB Field Gross oil production 8000 bopd Cue Interest: 12.5% 7000 FY23 Cue Revenue: $18.71 million (+25% YoY) 6000 Field Production: 6,400 bopd as at 30 June 2023, from 4,700 bopd at beginning of FY23 (+36%) 5000 4000 FY24 Outlook 3000 • PB-23 and
Slide 10: Sampang PSC: Indonesia
Sampang PSC: Indonesia Gas production with development upside powering East Java Location: Offshore East Java Cue Interest: 15% FY23 Cue Revenue: $11.5 million Field Production: ~22 mmcfd from two offshore gas fields, Oyong and Wortel producing under long-term, fixed price contracts FY24 Outlook • D
Slide 11: Australian Onshore Gas
Australian Onshore Gas Mereenie, Palm Valley and Dingo production for NT and Eastern Australia Location: Onshore Amadeus Basin, NT Cue Interest: Mereenie 7.5%, Palm Valley 15%, Dingo 15% FY23 Cue Revenue: $11.9 million Field Production: 42TJ/d from 3 producing fields with successful tie-in of the PV
Slide 12: Maari Oilfield: NZ
Maari Oilfield: NZ Production optimisation and cost reduction focus Location: Offshore Taranaki Basin FY24 Outlook Cue Interest: 5% • Production growth- convert MR2 to water injector and MR6A recompletion FY23 Revenue: $9.5 million • Certification of the Raroa FPSO until Field Production: >5000 bopd
Slide 13: Sustainability
Sustainability Working with Partners to reduce emissions and support local communities 13
Slide 14: FY23: Profitable Growth & Capital Management
FY23: Profitable Growth & Capital Management Delivered Profitable Production Growth, Strong Free Cash Flow, Active Capital Management Continued to Achieve Strong FY23 Net Profit After Tax of $15.2 Production Performance, producing million. Demonstrates Management’s 630,000 barrels of oil equivalent
Slide 15: FY24: Sustaining High Activity Levels
FY24: Sustaining High Activity Levels Eight new production wells drilled in Mahato and Palm Valley during FY23 Continued high activity levels expected in 2024 to drive production growth: • Participation in up to seven planned development wells in Australia and Indonesia • Targeting the first gas pro
Slide 16: Level 3, 10 Queen Street, Melbourne
Level 3, 10 Queen Street, Melbourne, Victoria, AUSTRALIA 3000 (+61) 3 8610 4000 (+61) 3 9614 2142 mail@cuenrg.com.au WWW.CUENRG.COM.AU
Cue Energy Resources — Shareholder Meeting (October 2023) on 6ix