Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Euroz Hartleys Institutional Conference 2024
23 slides from Carnarvon Energy's conference presentation, Mar 14, 2024
Slide 1: Corporate presentation
ASX AN NOUN CE MEN T Corporate presentation 14 March 2024 Carnarvon Energy Limited (Carnarvon) is pleased to provide the attached presentation to be given to institutional investors by Carnarvon’s CEO, Mr Philip Huizenga, at the Euroz Hartleys Institutional Conference today. The conference provides
Slide 2: Euroz Hartleys Investor Conference
Euroz Hartleys Investor Conference MARCH 2024 ASX: CVN INVESTOR PRESENTATION
Slide 3: Disclaimer
Disclaimer P R E S E N T A T I O N Contingent and prospective resources No representation, warranty or assurance, express or implied, is given or made in relation to any forward looking statement. In particular no representation, warranty or assumption, express or implied, is given in relation to an
Slide 4: Advance Dorado and pursue opportunities to realise value for shareholders
P R E S E N T A T I O N I N V E S T O R Carnarvon’s core business is simple: Advance Dorado and pursue opportunities to realise value for shareholders 3
Slide 5: Deep valuation upside
Deep valuation upside P R E S E N T A T I O N Exploration and gas upside1 600 I N V E S T O R Additional 10% held in Pavo Development Assets value 500 A$208M Value of 10% of Dorado and Pavo based on the CPC divestment2 (US$146 million) A$ MILLION 400 Carnarvon’s Bedout Basin Assets and Current Worki
Slide 6: Bedout Basin Investment Case
Bedout Basin Investment Case P R E S E N T A T I O N I N V E S T O R World-Class Experienced Strong Cash Asset Operator Generation Australia’s largest Santos is a highly Phase 1 liquids development undeveloped conventional experienced and proven projected to generate strong oil resource, aiming to b
Slide 7: Asset Overview
Asset Overview North-Western Australia P R E S E N T A T I O N Bedout sub-Basin DORADO (10% WI) ▪ 2C liquids resource estimate of 162 MMbbls (gross) ▪ Light & sweet crude, condensate, low CO2 gas and LPGs Bedout Sub-basin Discovered Assets CVN held permits I N V E S T O R Northern ▪ Supportive of op
Slide 8: Dorado Phase 1 Liquids Development
Dorado Phase 1 Liquids Development P R E S E N T A T I O N Dorado is a shallow water liquids development with scale and expected low per barrel costs and is being optimised I N V E S T O R 7
Slide 9: Pavo Development – Next in Line
Pavo Development – Next in Line P R E S E N T A T I O N Pavo planned to be produced via Oil Rate (BOPD) I N V E S T O R Dorado infrastructure, with production sequenced after Dorado Dorado Phase 1 Oil Pavo North Pavo South Dorado Dorado FPSO Pavo WHP Field Pavo discovery Pavo South undrilled prospec
Slide 10: Substantial Exploration Upside
Substantial Exploration Upside* P R E S E N T A T I O N Acreage in Bedout Sub-Basin Gross Mean Recoverable by Well and Cluster (mmboe) N WA-436-P (20%) I N V E S T O R Ara 189 723 CVN held permits WA-435-P (10%) Ara Gas fields Oil fields Wendolene 173 529 Bedout prospects 3D seismic data Circle of i
Slide 11: Refreshed Board aligned on strategy
Refreshed Board aligned on strategy P R E S E N T A T I O N I N V E S T O R Bill Foster Gavin Ryan Russell Delroy Will Barker Philip Huizenga Alex Doering Chair Non-Executive Director Non-Executive Director Non-Executive Director Chief Executive Officer Chief Financial Officer Preserve capital and f
Slide 12: Balance Sheet Strength Underwrites Valuation
Balance Sheet Strength Underwrites Valuation P R E S E N T A T I O N I N V E S T O R Cash Debt Capital Free Carry from CPC UNDERPINS A$176m Nil A$138m (US$90m) CURRENT 1 = 9.5¢ per share = 7.7¢ per share SHARE PRICE OF 18.5¢ Cash + Carry = A$314m ($333M MKT CAP) 17.2¢ value before considering Dorado
Slide 13: Why Invest
Why Invest P R E S E N T A T I O N I N V E S T O R World class Strong balance Focus on asset with sheet underpins maximising significant upside value proposition shareholder value Compelling developments in Total liquidity of ~A$314m Dorado projected to deliver significant Dorado and Pavo – Phase 1
Slide 14: Philip Huizenga contact details
Philip Huizenga Chief Executive Officer E: investor.relations@cvn.com.au T: +61 8 9321 2665 Level 2, 76 Kings Park Road, West Perth, WA, 6005 admin@cvn.com.au www.carnarvon.com.au 13
Slide 15: Appendices
Appendices 14
Slide 16: Contingent Resources
Bedout Basin Contingent Resources I N V E S T O R P R E S E N T A T I O N 15
Slide 17: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 16
Slide 18: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 17
Slide 19: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 18
Slide 20: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 19
Slide 21: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 20
Slide 22: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 21
Slide 23: Prospective Resources
Bedout Basin Prospective Resources* P R E S E N T A T I O N I N V E S T O R * Refer to cautionary statement on slide 6 22
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