Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (November 2013)
17 slides from Cue Energy Resources's shareholder meeting presentation, Nov 14, 2013
Slide 1: Chairman's Address and Company Presentation, AGM 2013
A.B.N. 45 066 383 971 For personal use only 14 November 2013 PAGES (including this page):17 CUE ENERGY OVERVIEW Cue is an Australian based oil & Company Announcements Office gas company with activities in 10th Floor Australia, New Zealand, Indonesia 20 Bond Street and PNG. Sydney NSW 2000 THE COMPAN
Slide 2: Chairman's Address
A.B.N. 45 066 383 971 RELEASE (ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY) For personal use only Cue Annual General Meeting of Shareholders 10.00am, 14 November 2013 Melbourne Australia Chairman’s Address Good morning ladies and gentlemen. Welcome to the 32nd Annual General Meeting of Cue Energ
Slide 3: Board changes and Business Plan
Sadly, we also lost from the Board Steven Koroknay who died suddenly during June 2013. Steve’s death at a relatively young age deprives us of his friendship and wise counsel on the Board. Steve was a well-known and respected figure in the oil and gas industry with over thirty- five years of experien
Slide 4: Share Price
Share Price The board and management of Cue has given considerable thought to the unjustifiably low share price of Cue, which in no way represents the underlying value of the Company. While our primary focus as a Board is to implement the business plan to increase rapidly and For personal use only s
Slide 5: Exploration and appraisal outlook
In all, we expect that at least three, and up to six exploration and appraisal wells, will be drilled over the next 12 months in Indonesia and New Zealand. In addition five wells will be drilled to support Maari development activities. In the Carnarvon Basin, Western Australia, Cue increased its int
Slide 6: Cue Energy Resources Limited Annual General Meeting November 2013
For personal use only CUE ENERGY RESOURCES LIMITED (ASX: CUE) Annual General Meeting 14th November 2013
Slide 7: FY13 Financials
For personal use only FY13 Financials Revenue of $49.8m, up 21% Annual production up 22% to 930,000 boe Net Profit after Tax up 12.5% to $6.4m $54.6M cash on hand at 31 October 2013 Zero debt 2
Slide 8: Clear Growth Strategy
Clear Growth Strategy Future position For personal use only Current Position • 5mmboe reserve adds by end • Maari growth projects drive 2018 (>140% reserve short term reserves addition replacement) Growth • Considerable drilling activity in Strategy • 3-5 wells drilled per year next 12 – 18 months •
Slide 9: Core Regional Focus
Core Regional Focus Australia Onshore: For personal use only • Proven Plays • Existing infrastructure with quick commercialisation NZ Onshore/Offshore • Existing presence and good regional knowledge • Strong relationships with established partners Asia • Multiple prospective basins and world class p
Slide 10: Near Term Activity
Near Term Activity • Eight well minimum and 11 well potential over the For personal use only next 12 months in Indonesia and NZ • Fully funded 2013/2014 drilling program • Whio -1 carried by OMV 2013 2014 Q3 Q4 Q1 Q2 Q3 Q4 New Zealand Maari growth projects ENSCO 107 (Jack‐Up) New Zealand Manaia‐2 Ka
Slide 11: New Zealand: Maari Growth
New Zealand: Maari Growth • Manaia-2 well at target depth and logging/testing For personal use only • Ensco 107 jack up drill rig due to arrive Q1 2014 for Maari field growth project activities • Growth projects expected to add 15mmbbl (gross) incremental reserves and increased production from 2014/
Slide 12: Maari Facilities Upgrade
Maari Facilities Upgrade • FPSO Raroa currently in Port Nelson, NZ for swivel replacement and process For personal use only equipment upgrade • New swivel installed; other work on vessel almost completed • Mooring line replacement work on schedule • Vessel expected to be back in operation late Dec/J
Slide 13: New Zealand: Taranaki Exploration Offshore
New Zealand: Taranaki Exploration offshore Whio Whio-1 exploration well to be drilled early 2014 by the Kan Tan IV For personal use only (PEP 51313) Cue 14% Potential to deliver material new OMV(Op) 30% discovery in Eocene and Paleocene Todd 35% plays close to Maari Horizon 21% Whio -1 success opens
Slide 14: New Zealand: Taranaki Exploration Onshore
New Zealand: Taranaki Exploration Onshore PEP 51149 438km2 onshore Taranaki Basin For personal use only Cue 20% Todd (Op) 80% Principal targets are Eocene (gas) and Miocene (oil) formations updip of Te Kiri -1 hydrocarbon shows Permit reached end of year 5 in Sept 2013 – renewal submitted. 50% relin
Slide 15: Indonesia: Sampang Production and Appraisal
Indonesia: Sampang Production and Appraisal Oyong & Wortel first production 2012, Oyong For personal use only Wortel 2007 Cue 15% Santos (Op) 45% Strong field performance with combined SPC 40% gross production of ~85MMcfd and ~2200bbl/d Oyong FSO replacement in progress Jeruk Field discovered 2003 C
Slide 16: Indonesia: Mahakam Hilir Appraisal and Exploration
Indonesia:Mahakam Hilir Appraisal and Exploration Mahakam Naga Utara-1 (2012) showed good For personal use only Hilir PSC hydrocarbon indications but was Cue 40% unable to be conclusively evaluated SPC (Op) 60% Naga Utara-2 (NU-2) drilling underway- 65 day well. Current depth 1,019m NU-2 to appraise
Slide 17: PNG: Production, Appraisal and Exploration
PNG: Production, Appraisal and Exploration PDL 3 Contains part of SE Gobe Unit (Cue For personal use only Cue 5.6% 3.286%) Santos 15.9% (Op) Oil Search 36.4% Mature field that has produced over 42 SHP 40.1% million bbl (gross) since 1998 PRG 2% Gas production in to the PNG LNG plant expected to comm
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