Central Petroleum Limited · ASX:CTP
Central Petroleum — H1 FY2025 Earnings Presentation
16 slides from Central Petroleum's earnings presentation, Mar 14, 2025
Slide 1: Half Year Update
For personal use only Half Year Update 14 March 2025 Central Petroleum Limited (ASX:CTP)
Slide 2: Strong balance sheet
Strong balance sheet Reduced debt Refinanced loan provides financial security For personal use only Loan balance (31 Dec) $23.4 m: Now extended for 5 years to end 2029 ➢ Full refinance - five year term removes refinancing risk Net cash (31 Dec) $1.6 m ➢ Scheduled debt service payments re-shaped to s
Slide 3: 1H Results (31 Dec 2024): Solid underlying operational performance
1H Results (31 Dec 2024): Solid underlying operational performance Sales volume (1H FY2025) 2.3 PJe Sales revenue (1H FY2025) $18.9m For personal use only • YTD down 5% on 1H FY2024 • Stronger markets: Realised portfolio price of $7.96 / GJe YTD • YTD 10% higher than NGP-impacted 2H FY2024 • To incr
Slide 4: Step-change financial outlook for CY 2025
Step-change financial outlook for CY 2025 Increasing margins For personal use only ▪ New contracts have significantly boosted average gas price and gross margins from January 2025 ▪ Prices in Jan 2025 are over 21% higher than 1H FY2025 ▪ Fixed costs amortised over higher volumes Increasing free cash
Slide 5: WM29/WM30 production and new NT GSA to bolster forward revenues
WM29/WM30 production and new NT GSA to bolster forward revenues Firm production contracted until 2030 For personal use only ➢ Secures reliable, increased cash flows ▪ Replaces east coast customers in CY2025 when NGP closed ▪ Firm gas sales not affected by NGP interruptions ▪ Expected higher average
Slide 6: NT gas market in transition
NT gas market in transition Significant NT market shortfall For personal use only being balanced by diverted LNG ➢ Significant decline in Blacktip supply since 2022 (Currently nil) ➢ Inpex & temporary DLNG tail gas have helped to plug the gap ➢ Mereenie / Palm Valley producing reliably, new NTG GSA
Slide 7: Central has competitive advantage in the NT
Central has competitive advantage in the NT Advantage over alternative gas sources For personal use only ➢ Blacktip – New well expected to be online soon. No Off- certainty that production can be maintained at previous Shore (Blacktip) LNG Darwin LNG levels + INPEX ➢ Darwin LNG – limited remaining B
Slide 8: Infield growth opportunities under consideration
Infield growth opportunities under consideration* Palm Valley drilling • Last two Palm Valley wells have overperformed, For personal use only leading to a ~40% increase in 2C contingent gas resource for future wells • Planning/approvals have commenced for two new wells at Palm Valley Mereenie Optimi
Slide 9: Large sub-salt targets prospective for helium, hydrogen and hydrocarbons
Large sub-salt targets prospective for helium, hydrogen and hydrocarbons Seeking farm-in participants to fund For personal use only exploration programs Jacko Bore (Mt Kitty) (30% interest) • Mt Kitty-1 flowed gas to surface at 530 mscf/d, including helium (9%) and hydrogen (12%) • 2C Contingent Gas
Slide 10: Strategy to unlock shareholder value
Strategy to unlock shareholder value Strategy Improving performance to drive For personal use only • Position our operating assets to capitalise on the tightening NT gas market increased value ✓ Mereenie development wells (completed ahead of schedule, under budget and above target rates) ➢ Changing
Slide 11: Key FY2025 Activities
Key FY2025 Activities For personal use only ✓ Successful EOI process concluding with the NTG Gas Sale Agreement ✓ Drilled and commissioned two new production wells at Mereenie (ahead of schedule, under budget and significantly above target production rates) ✓ Debt restructured and extended with full
Slide 12: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information CENTRAL PETROLEUM LIMITED (ASX:CTP) 12
Slide 13: 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 14: 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 unriske
Slide 15: 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 q h “ ” h does not attempt to produce profit forecasts for the Company and should not be relied upon as
Slide 16: 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