Central Petroleum Limited · ASX:CTP
Central Petroleum — Shareholder Meeting (November 2024)
15 slides from Central Petroleum's shareholder meeting presentation, Nov 20, 2024
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 20 November 2024 Central Petroleum Limited (ASX:CTP)
Slide 2: Achieving Strategic Review Objectives in 2024
Achieving Strategic Review Objectives in 2024 ✓ Completed Range sale: $13.8m profit ✓ Fully repaid pre-sold gas ($5m pa benefit to cash For personal use only flow from January) ✓ Strengthened FYE24 Balance Sheet ▪ Solid FY24 results despite transport issues ✓ Debt extension and restructure commitmen
Slide 3: Solid FY2024 results despite Northern Gas Pipeline outages
Solid FY2024 results despite Northern Gas Pipeline outages ➢ Sales volume: 4.5 PJe Down 7% from FY2023 Disciplined exploration ➢ Sales revenue: $37.2m Down 5% from FY2023 For personal use only • Maintaining material exposure to highly prospective exploration ➢ Margin: $3.65/GJe (ex-depreciation) Dow
Slide 4: Strong Balance Sheet
Strong Balance Sheet Reduced debt Refinance loan to provide financial security (subject to contract) For personal use only Loan balance $22.3 m: Now extended for 5 years to end 2029 ➢ Full refinance of existing $22.3m debt. Five year term Net cash (30 Sept) $1.9 m (FY2023: $14.3m net debt) removes r
Slide 5: NT gas market in transition
NT gas market in transition NT gas market currently requires For personal use only expensive LNG sources ➢ Significant decline in Blacktip supply since 2022 ➢ Inpex & temporary Bayu Undan tail gas are used to manage supply shortfalls ➢ Mereenie / Palm Valley producing reliably, new NTG GSAs secured
Slide 6: Major milestone: NT Government GSA to bolster forward revenues
Major milestone: NT Government GSA to bolster forward revenues “This is the most transformative gas sale agreement that Central has ever executed, with an ➢ Secures reliable, increased cash flows increase in our historical average portfolio contract price and an anticipated increase in For personal
Slide 7: Central has a locational advantage in NT
Central has a locational advantage in NT Off- Shore ➢ Blacktip – well could be drilled in early 2025. No LNG (Blacktip) (Darwin For personal use only certainty that production can be restored to previous LNG / INPEX) levels ➢ Darwin LNG – limited remaining Bayu Undan tail gas before taken offline fo
Slide 8: Growth opportunities
Growth opportunities Palm Valley Production Increases • Last two Palm Valley wells used horizontal drilling to outperform For personal use only expectations with initial production rates ranging from 7-10TJ/d per well • Estimated 6.5 PJ of 2C contingent gas resource (net to Central) • Two new wells
Slide 9: Exploration opportunities
Exploration opportunities Several leads, prospects and targets, including helium, hydrogen, natural gas and oil For personal use only In-field Mamlambo (100%) Mereenie Stairway (25%) Palm Valley (50 %) Orange (100 %) • Mereenie Stairway 18 mmbbl oil target(1) 27 PJ Gas target(3) 6.5 PJ Gas target(3)
Slide 10: Key FY2025 Activities
Key FY2025 Activities For personal use only ✓ Successful gas sale Expression of Interest (EOI) process concluding with the NTG GSAs that achieved all EOI objectives ✓ FID for two new wells at Mereenie to increase production ✓ Progress debt restructure and extension ➢ Progress new Palm Valley wells t
Slide 11: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information CENTRAL PETROLEUM LIMITED (ASX:CTP) 11
Slide 12: 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 13: 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 14: 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 15: 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
Central Petroleum — Shareholder Meeting (November 2024) on 6ix