Central Petroleum Limited · ASX:CTP
Central Petroleum — Investor Presentation (November 2014)
20 slides from Central Petroleum's investor presentation, Nov 17, 2014
Slide 1: Gas – Central to our Future: Annual Shareholder Roadshow
For personal use only CENTRAL PETROLEUM “Gas – Central to our Future” Annual Shareholder Roadshow (Central Petroleum Shareholders Association) 17 – 20 November 2014 0
Slide 2: Disclaimer
Disclaimer 1.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 For personal use only affairs of Central Petroleum Ltd (“Company”). This presentation does not attempt to produc
Slide 3: Company Overview
Company Overview For personal use only DIRECTORS – POST AGM Andy Whittle BSc (Hons) Appointed April 2012 Wrix Gasteen BE (Hons), MBA (Dist.) Appointed June 2012 Richard Cottee BA/LLB (Hons) Appointed June 2012 Robert Hubbard Appointed December 2013 John Thomas Wilson BSc (Zoology), MSc (Geology) App
Slide 4: CTP Acreage
For personal use only 3 CTP Acreage
Slide 5: The Future is Gas
The Future is Gas For personal use only 88.6% of acreage gas prone Price to escalate as a result of the Eastern Seaboard Shortage if interconnected NT Pipeline will unlock value of over 88% of acreage IPL will help fund the gas phase Geologically, Central was always a gas company Central
Slide 6: Brownfield Development
Brownfield Development For personal use only NT gas onshore development stalled through no markets Lowest hanging conventional fruit awaiting development Initial Supply on existing infrastructure built last century Labour force in NT primarily local 26% Traditional Owners 26% Other local
Slide 7: Gas Prone Acreage
For personal use only 6 Gas Prone Acreage
Slide 8: Exploration
Exploration For personal use only Imperative to create a reliable inventory of leads and prospects Requires seismic to firm up drillable locations More seismic recently acquired or committed than in first 6 years Develops opportunities, retains acreage Seismic acquisition since listing Kilom
Slide 9: Exploration (continued…)
Exploration (continued…) For personal use only Three Holes Drilled Experienced Team Whiteley 1 20% increase in number To be completed next year (after wet season) 22 years average experience per person Mt Kitty 1 130 years total exploration Drilled under Santos operatorship experience
Slide 10: Exploration (continued…): Exploration Expenditure by Permit
Exploration (continued…) For personal use only Exploration Expenditure by Permit Summary (total exploration spend on CTP acreage – 100% including JV Partners) Permit Exploration Spend 60 50 40 Millions $ 30 20 10 0 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Forec
Slide 11: Deals Done
Deals Done For personal use only Santos Farm-In Kept acreage Create leads & prospects Mt Kitty drilled Total Farm-In Evaluating shale gas potential with exploration to continue Magellan Acquisition Acquired Palm Valley and Dingo Springboard into Eastern Gas Markets IPL Announceme
Slide 12: Low Staff Turnover
For personal use only 11 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% 0.00% 5.00% Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Low Staff Turnover Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 20
Slide 13: Low Cash Burn
Low Cash Burn For personal use only The total net cash spend in each FY; literally opening cash less closing cash (excluding capital raisings). Cash Spend Ops + Inv $000's FY07 - 3,657 FY08 - 11,170 FY09 - 8,905 FY10 - 24,374 FY11 - 34,048 FY12 - 21,320 FY13 - 11,438 FY14 - 943 12
Slide 14: Administration Costs
Administration Costs For personal use only Admin costs (standalone). The permanent headcount has increased from 19 permanent at June 2012 to 50 at June 2014 therefore the average admin cost per person has significantly reduced by 70%. By Quarter 2011 to 2014 Total Headcount & Leavers 70 60 50 40
Slide 15: Transition of Board Completed
Transition of Board Completed For personal use only William Dunmore and Mike Herrington retiring at AGM Experienced Board of 5 plus Managing Director Andy Whittle Non-Executive Chairman Appointed April 2012 Wrix Gasteen Audit Committee Chairman Appointed June 2012 Richard Cottee Managing Directo
Slide 16: Capital Raisings
Capital Raisings For personal use only Permit Exploration Spend Vs Capital Raised 60 50 40 Millions $ 30 20 10 0 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Forecast Financial Year Capital Raised Exploration Spend 15
Slide 17: Surprise
Surprise For personal use only On Production Production less than prognosis: delay in Surprise East to benefit on learnings Oil Price Softening Arrested by cost reductions in transportation and softening of $A Surprise East being evaluated given oil price scenario 16
Slide 18: Summary 2014
Summary 2014 For personal use only February We entered into an agreement to acquire assets of Magellan Petroleum in Amadeus Basin March Central shifts from an explorer to a multi-field producer in both oil and gas markets April Mt Kitty drilled establishing that the Southern Amadeus Basin was
Slide 19: Summary 2014
Summary 2014 For personal use only July The Dingo pipeline (PL 30) was announced and pipeline site works commenced Santos elected to proceed to Stage 2 of the Southern Amadeus Joint Venture August Central regained 100% ownership of Retention Licenses 3 and 4 (Ooraminna gas discovery) September
Slide 20: Contact Details
Contact Details For personal use only Central Petroleum Limited Level 32, 400 George Street, Brisbane, QLD 4000 PO Box 12214, George Street, Brisbane, QLD 4003 Tel: +61 7 3181 3800 Fax: +61 7 3181 3855 Website: www.centralpetroleum.com.au 19
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