Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (March 2014)
23 slides from Cue Energy Resources's investor presentation, Mar 31, 2014
Slide 1: Cue Energy Overview - Investor Presentation, March/April 2014
ABN 45 066 383 971 For personal use only 31 March 2014 PAGES (including this page):23 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 COMPANY HAS:
Slide 2: Cue Energy Resources Limited
For personal use only CUE ENERGY RESOURCES LIMITED (ASX: CUE) www.cuenrg.com.au Investor Presentation, March/April 2014
Slide 3: Disclaimer & Important Notice
For personal use only DISCLAIMER & IMPORTANT NOTICE Various statements in this document constitute statements relating to intentions, future acts and events. Such statements are generally classified as forward looking statements and involve known risks, expectations, uncertainties and other importan
Slide 4: Board and Management
Board and Management David Biggs For personal use only Geoffrey King Non-Executive Chairman Chief Executive Officer • 35+ years experience in oil & gas • 30+ years experience in oil & gas • Appointed Chairman Nov 2012 • Joined CUE April 2013 Paul Moore Andrew Knox Non-Executive Director Chief Financ
Slide 5: At a Glance
At a Glance COMPANY SNAPSHOT SHARE PRICE PERFORMANCE For personal use only 0.40 Share Price ($A) Volume (m) 10 Market Capitalisation @ A$0.13 (1) A$90.76million 0.35 9 8 0.30 Ordinary Shares 698,119,720 7 0.25 6 12 Month Trading Range(2) 10.5¢ – 15.0¢ 0.20 5 0.15 4 3 12 Month Average Daily Volume(2)
Slide 6: Regionally Diversified Assets
Regionally Diversified Assets INDONESIA Kutei Basin PNG Papuan Basin For personal use only Mahakam Hilir PSC SE Gobe PDL 9 PDL 14 INDONESIA Offshore East Java Sampang PSC NEW ZEALAND Taranaki Basin Maari PEP 51313 PEP 51149 AUSTRALIA PEP 58465 Carnarvon Basin WA-359-P WA-360-P WA-361-P WA-389-P WA-4
Slide 7: Summary
For personal use only Summary • Strong balance sheet • Strong production underpinning exploration activities • Actively seeking new exploration opportunities with a bias towards onshore, near term commercialisation • Actively seeking new production opportunities • Actively managing existing explorat
Slide 8: Strong Existing Production
For personal use only Strong Existing Production Net Daily production Net Production (2011-2016f) boe/d Million boe 1,000 1.2 900 1 800 700 0.8 600 500 0.6 400 0.4 300 200 0.2 100 0 0 Maari Oyong Wortel SE Gobe 2011 2012 2013 2014f 2015f 2016f Calendar year SE Gobe Maari Sampang PSC Note: Average Da
Slide 9: Existing Reserves
For personal use only Existing Reserves • 5.2mmboe reserves reported as at 31 Dec 2012 • High potential to increase reserves from 2014 New Zealand drilling 2P reserves by country 2P reserves by product mmboe mmboe Papua New Guinea 0.8 Indonesia, 2.1 Oil 2.5 Gas New 2.8 Zealand 2.3 Source ( FY13 annu
Slide 10: Exploration Growth
Exploration Growth • Cue is maintaining a focus on For personal use only exploration to maintain and grow medium to long term production • Farm-in and ground floor exploration opportunities under review in geographical focus areas of Australia onshore, New Zealand onshore /offshore and Asia • Strate
Slide 11: Near Term Production Growth
Near Term Production Growth • Growth strategy includes addressing post 2016 production decline For personal use only by acquisition of existing production or projects at the stage of near term development, to supplement exploration success • Cue’s cash balance and zero debt levels provide financial
Slide 12: New Zealand 2014 Activities
New Zealand 2014 Activities • Ensco 107 in New Zealand for Maari development drilling (Cue 5%) For personal use only – Currently mobilising from Admiralty Bay to Maari field – 4 production wells and 1 water injection well to be drilled – Expected to add 12mmbbl (gross) incremental reserves and doubl
Slide 13: Maximising value from existing Assets
For personal use only Maximising value from existing Assets • WA-359-P Farm Out (100% Cue) – 150+mmbbl OOIP opportunity – Initial presentations have been conducted with interested parties – Data room to be opened during Q2 • Equity available in other prospective Cue Carnarvon Basin permits • Papua N
Slide 14: Near Term Activity
For personal use only Near Term Activity • Ensco 107 mobilising for Maari drilling • Whio-1 100% carried by OMV • Te Kiri North-1 onshore NZ planning underway • Contingent Manaia-3 appraisal well 2015 building on encouraging Manaia-2 well results 2013 2014 Q3 Q4 Q1 Q2 Q3 Q4 New Zealand Maari growth
Slide 15: Summary
Summary • 2014 production growth to come from New For personal use only Zealand with 2 firm wells and Maari Growth Project • 2014 focus on capturing new exploration opportunities and securing production profile post 2015 • Cue actively seeking and evaluating other growth opportunities aligned with s
Slide 16: Appendices
For personal use only Appendices 15
Slide 17: FY13 Profit
For personal use only FY13 Profit 2014 2013 2012 Half Year 31 Dec 2013 $000’s $000’s $000’s Production revenue 14,776 49,798 41,222 Production costs (9,599) (19,131) (13,778) Gross profit from production 5,177 30,667 27,444 Other revenue 84 160 274 Amortisation expense (4,301) (17,520) (10,500) Inte
Slide 18: Sound Financial Position
For personal use only Sound Financial Position 2014 2013 2012 Half Year 31 Dec 2013 $000’s $000’s $000’s Current Assets Cash and cash equivalents 50,144 58,828 33,733 Trade and other receivables 3,878 5,096 11,746 Inventories 1,084 1,157 1,500 Total Current Assets 55,106 65,081 46,979 Non-Current As
Slide 19: Summary Consolidated Cash Flow
For personal use only Summary Consolidated Cash Flow 2014 2013 2012 Half Year 31 Dec 2013 $000’s $000’s $000’s Net Cash Provided by Operating activities 2,476 32,729 11,729 Net Cash Used in Investing Activities (13,525) (10,855) (27,994) Net Cash Used in Financing Activities - - (4,438) Net increase
Slide 20: Profit by Area
For personal use only Profit by Area 2014 Half Year 31 Dec 2013 Total Australia NZ Indonesia PNG $’000 $’000 $’000 $’000 $’000 Production Revenue - 1,453 12,421 902 14,776 Production Expenses - (1,607) (6,839) (1,153) (9,599) Gross Profit - (154) 5,582 (251) 5,177 2013 Total Australia NZ Indonesia P
Slide 21: Reserves and resources
Reserves and resources PROVED (1P) PROVED & PROBABLE (2P) FIELD (LICENCE) OIL OIL CUE LIQUIDS GAS EQUIVALENT(4) LIQUIDS GAS EQUIVALENT(4) For personal use only INTEREST MMBBL BSCF MMBOE MMBBL BSCF MMBOE Reserves Oyong(1)(2) (Sampang 15% 0.039 2.259 0.415 0.082 4.523 0.836 PSC) Wortel(1) (Sampang 15%
Slide 22: Joint Venture Interests
Joint Venture Interests PERMIT OPERATOR CUE INTEREST (%) For personal use only Petroleum Properties New Zealand PMP 38160 OMV New Zealand Limited 5.00 (ii) PEP 51313 OMV New Zealand Limited 14.00 PEP 51149 Todd Exploration Limited 20.00 PEP 54865 Todd Exploration Limited 20.00 Indonesia Sampang PSC
Slide 23: For personal use only
For personal use only Level 19, 357 Collins Street, Melbourne VICTORIA – AUSTRALIA 3000 P. (61) 3 8610 4000 F. (61) 3 9614 2142 E. mail@cuenrg.com.au W. www.cuenrg.com.au
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