Central Petroleum Limited · ASX:CTP
Central Petroleum — Shareholder Meeting (November 2008)
35 slides from Central Petroleum's shareholder meeting presentation, November 2008
Slide 1: AGM 2008
central petroleum LIMITED AGM 2008* (* Derived from a variety of previous announcements and public domain information)
Slide 2: Disclaimer
Disclaimer The presentation has been summarised from various reports including, “CBM Potential of the Pedirka Basin” by Mulready Consultants, “Pre-feasibility Study for a 10,000 bbl/day FT GTL Plant in Central Australia”, and ” Appraisal of GTL Development Option for Potential CBM Resources of the P
Slide 3: Australia - Island Continent
Australia - Island Continent • 7 million km2 landmass • Additional 3.5 million km2 seafloor rights 2008 • Relatively underexplored • Low sovereign risk • Stable benign fiscal regime • Stable politics • Transparent democracy • relatively insulated from USA/Europe meltdown (raw mats export China/India
Slide 4: E&P GTL/GTF
E&P GTL/GTF • One of the biggest underexplored single country exploration packages under single operatorship in the world-250,000 km2 • Proven prospectivity- ground surrounds 2 producing fields Mereenie, Palm Valley (Santos/Magellan JV) • Billion barrel oil, multi TCF gas and multi BCF Helium concep
Slide 5: Corporate
Corporate • Started in 1998 with US$12/bbl oil prices • Listed early 2006, current capitalisation c.$26 million 10 cps (061108) • 257 million shares, 96 million options trading 6 cpo (061108) • Share value retreat due to recent stockmarket chaos in line with BHP, Rio, Woodside • Rolling Convertible
Slide 6: Short to medium term objectives
Short to medium term objectives Looking for : - additional risk sharing partner via farmouts for E and P - strategic investment into Central to stabilise share register - Joint Venture with holder of appropriate GTL/GTF/UCG technology
Slide 7: Strategy - control and operate central value adding petroleum hub
Strategy- control and operate central value adding petroleum hub
Slide 8: Development Path
Development Path • Oil discovery and development for early cash flow • Development of gas and Helium resources in conventional reservoirs • Development of CBM and non conventional reservoirs Pedirka and Amadeus • Planned development of large scale GTL/GTF plant(s) to add value to gas discoveries • E
Slide 9: Hands on approach !
Hands on approach !
Slide 10: Central Petroleum Limited 2008 programme
Central Petroleum Limited 2008 programme • Completed two stage 1,600 km seismic programme early 2008 • Drilled 2 conventional oil wells and 1 CBM well Pedirka Basin 2008 • Drilled Blamore 1, 160m net gassy coals, failed to test all oil targets-residual oil Algebuckina Formation • Drilled CBM93001, 1
Slide 11: 2009 Programme Proposal
2009 Programme Proposal • 8 Conventional wells-A$32 million • 15 fully cored CBM wells, 25 appraisal wells-A$40 million • Mix 2D and 3D seismic-A$16 Million • Subject to appropriate farmin partners/capital
Slide 12: Potential resources/UOIIP- UGIIP
Potential resources/UOIIP- UGIIP • 35 TCFG or 6 Bn BOE upside “yet to find” Amadeus Basin conventional targets-NTGS 2005 • 34-70 TCFG (recoverable) CBM Prospective Resources in Central’s Pedirka Basin-2007 • Additional potential UCG Pedirka Basin-currently attempting to quantify • Horn Valley Siltst
Slide 13: UCG/GTL Potential ?
UCG/GTL Potential ? • 2008 programme and historical data supports concept of 1,000s of km2 thick coal at various depths Pedirka Basin • No decision yet as to UCG under Petroleum or Mining Act Northern Territory, Qld debacle may point the way • SA UCG under Petroleum Act • UCG simple in concept, demo
Slide 14: 2008 Programme-suspended
21°00" From. NW Shelf gasfields Prospects andLeads _ Ol Pipeline Gas Pipeline _ Proposed Gas Pipeline Rallway __ Gas Fields ___ Basin Margins - 2008 CBM Wells_____ © N.B. Paim Valley gasfleld and Mereenie oilfield are not company assets < Amadeus Basin AUSTRALIA 26°00" WESTERN Lander Trough NORTHERN
Slide 15: Worldwide the "low fruit" has been picked
Worldwide the “low fruit” has been picked Frontier basins and non-conventional reservoirs are now a priority
Slide 16: Amadeus Basin-Seebase
Amadeus Basin-Seebase • underexplored • complex thrust/fold basin • Neo-proterozoic to Devonian • Prevalent halo-tectonics • 34 exploration well • 175,000 km2 • 2 producing fields • 7,000 km seismic
Slide 17: Amadeus Sections-pervasive Gillen Member salt seal
Amadeus Sections-pervasive Gillen Member -efficient salt seal to trap hydrocarbons & Helium
Slide 18: Gas and Oil Mature Source Shales Horn Valley Siltstone Amadeus Basin
GAS and OIL MATURE SOURCE SHALES HORN VALLEY SILTSTONE AMADEUS BASIN -Similar concept to Barnett,, Baxter, Bakken, Devonian and Marcellus Shales USA 10,000 km2 in gas window 12-90 TCF UGIIP 7,000 km2 in oil window-Bakken Shale type oil play up to 10,000 MMbbls UOIIP
Slide 19: HVS ("Bakken") Play Type
SP: em N font \ J | CJ0B-11, 411.48 i oO km | = Cyo8-14 - 220.0 240.0 260.0 280.0 300.0 320.0 340.0 360.0 380.0 400.0 420.0 440.0 460.0 480.0 500.0 520.0 540.0 560.0 580.0 600.0 620.0 CJOB-12, 402.38 Pa1—J14, 188.67 1 1 0.000] 0.1004 0.2004 0.3004 0.4003 0.5004 0.600] 0.7004 0.8004 0.900} 1.000] Hor
Slide 20: Mt Kitty-subsalt-gas-condensate-He
Mt Kitty-subsalt-gas-condensate-He Target horizon c. 430 km2 aerial closure, 1,000m max vertical closure prospective recoverable resources 1.7 TCFG, 105 BCF Helium, 2100m TD Possibly the biggest undrilled seismically defined structure onshore Australia
Slide 21: Ooraminna Appraisal Gas
Ooraminna Appraisal Gas • P10 - 0.7 TCFG Prospective Resources • 300 km2 aerial closure • 60 km to Alice Springs • 1300m TD
Slide 22: Waterhouse gas seepage to surface
Waterhouse gas seepage to surface Waterhouse Gas Appraisal • 300 km2 aerial closure • 1.0 TCFG P10 Prospective Resources • 60 km to Alice Springs • 2000m TD
Slide 23: Pedirka Basin
Pedirka Basin NBH/Beach 1978 WMC 1977 oil to surface residual/palaeo oil residual/palaeo oil zones/shows 240m not zones/shows 230m, faulty tested, faulty seals seals • Ordovician-Jurassic • 14 wells • 65,000 km2 • 3 petroleum systems • no commercial fields Few wells in most prospective part of the P
Slide 24: Permian area above 1,250m - 40m net coal
• Permian area above 1,250m – 29,103 km2 - 40m net coal • 74 TCF UGIIP CBM (“high”)- prospective recoverable under review • up to c.1.5 trillion tonnes coal available for UCG and GTL
Slide 25: CBM Pedirka Basin Coal Beds 34-70 TCFG Prospective Resources
CBM Pedirka Basin Coal Beds 34-70 TCFG Prospective Resources UCG & CTL potential unquantified
Slide 26: Pedirka Basin Devonian carbonate plays 4 Bn bbls upside
Pedirka Basin Devonian carbonate platform, slope and reef complex plays 4 Bn bbls upside UOIIP
Slide 27: Warburton Basin EP 97 Rawson Farmin Blocks
Warburton Basin EP 97 Rawson Farmin Blocks : Devonian carbonate platform, reef and slope-fan play, over 200 km2 5 Bbbls upside UOIIP
Slide 28: Warburton Basin EP 97 Rawson Farmin Blocks
Warburton Basin EP 97 Rawson Farmin Blocks : Devonian carbonate platform, reef and slope-fan play, over 200 km2 5 Bbbls upside UOIIP
Slide 29: Pedirka : many large leads/prospects
Pedirka : many large leads/prospects
Slide 30: Gas destinations
Gas destinations GTL?- flexible product slate, value added products readily disposable on local Australian market, hugely capital intensive, escalating EPC costs GTF?- similar to GTL but apparently less capital intensive plant, more energy efficient, no naphtha production *PIPELINE SALES? - not as p
Slide 31: Escalating plant costs overshadowed by regional fuel prices
Escalating plant costs overshadowed by regional fuel prices Singapore Jet-kero Price cf Plant Capital Cost Indices 180 160 ? 140 U S D ollars per Barrel 120 100 ? 80 60 40 20 CE Plant Cost Index Singapore Jet/Kero Benchmark Price CERA Dow nstream Capital Costs Index Poly. (Singapore Jet/Kero Benchma
Slide 32: Regional diesel shortages dictate $ price - not 1:1 link with crude $
Regional diesel shortages dictate $ price - not 1:1 link with crude $ Aussie diesel price linked more to Singapore diesel price than to crude price, Quality of crude dropping off TAPIS DUBAI benchmark
Slide 33: GTL plant pre-feasibility economics, US$ per barrel
Pre-feasibility CBM fueled GTL Feedstock A$2.50/mscf (conventionally reservoired gas feedstock c.A$1.50-75/mscf) Notional generic pre- feasibility independently Notional pre-feasibility derived, not a financial Central 20,000 bpd GTL Plant independently derived, forecast not a financial forecast Pro
Slide 34: Direct Conversion GTF plant pre-feasibility economics
Pre-feasibility CBM fueled GTL Feedstock A$2.50/mscf (conventionally reservoired gas feedstock c.A$1.50-75/mscf) Notional pre-feasibility independently derived, Central 20,000 bpd Direct Conversion GTF Plant not a financial forecast Producer-owned gas field and Direct Conversion Gas-to-Fuels plant (
Slide 35: Central Petroleum Limited - Revitalising Australia's Hydrocarbon Centre
Central Petroleum Limited Revitalising Australia’s Revitalising Hydrocarbon Australia’s Hydrocarbon CentreCentre Central Petroleum Limited MD John Heugh +61(0) 8 9474 1444 johnheugh@centralpetroleum.com.au MD John Heugh +61 8 9474 1444 www.centralpetroleum.com.au
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