Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (June 2009)
32 slides from Cue Energy Resources's investor presentation, Jun 18, 2009
Slide 1: ASX announcement cover fax
Cue Energy Resources Limited A.B.N. 45 066 383 971 For personal use only Level 21 114 William Street Melbourne Victoria 3000 Australia Telephone: (03) 9670 8668 Facsimile: (03) 9670 8661 Email: mail@cuenrg.com.au Website: www.cuenrg.com.au TO : Company Announcements Office 10th Floor 20 Bond Street
Slide 2: Investor Presentation June 2009
For personal use only Cue Energy Resources Limited INVESTOR PRESENTATION June 2009
Slide 3: Disclaimer & Important Notice
Cue Energy Resources Limited For personal use only DISCLAIMER & IMPORTANT NOTICE Various statements in this document constitute statements relating to intentions, te t o s, future utu e acts a and d eevents. e ts Suc Such state statements e ts a are e ge generally ea y classified as forward looking
Slide 4: For personal use only
For personal use only CORPORATE UPDATE
Slide 5: Cue Energy Statistics, Largest Shareholders
CUE ENERGY STATISTICS Cue Energy Resources Limited For personal use only 20 Largest Shareholders Update Percentage Shareholder Ordinary Shares Held Australian Registered g Company p y 1 Todd Petroleum Mining Company Limited 135,919,429 21.63% Shareholders 4,776 2 UOB Kay Hian Private Limited 96,753,
Slide 6: Non-Renounceable Entitlement Offer & Shortfall Offer
Cue Energy Resources Limited For personal use only NON--RENOUNEABLE ENTITLEMENT NON OFFER & SHORT FALL OFFER ¾ 1 for 5 up to 125,647,807 shares ¾ Raise up to $18,847,170 ¾ Shares increase 628 628,239,207 239 207 to 753 753,886,808 886 808 ¾ Eligible shareholders can subscribe for shortfall ¾ Neither
Slide 7: Directors & Executives
Cue Energy Resources Limited DIRECTORS & EXECUTIVES For personal use only NON EXECUTIVE CHAIRMAN MD Todd Energy NZ – Richard Tweedie LL.B 25% of shares NON EXECUTIVE DIRECTORS Geoffrey Albers LL.B Founder – 7.7% of shares Leon Musca LL.B LL B Lawyer - 1.6% of shares CHIEF EXECUTIVE OFFICER 40 years
Slide 8: Growth Plan
GROWTH PLAN Cue Energy Resources Limited For personal use only … Australasian & SE Asian Focus To develop a highly valued E & P company with market capitalization greater than A$ 500 million 1. Indigenous Growth EXPLORATION APPRAISAL DEVELOPMENT PRODUCTION 2. Acquisitions / Mergers … balanced portfo
Slide 9: Cue Hydrocarbon Inventory
CUE HYDROCARBON INVENTORY Cue Energy Resources Limited For personal use only OIL RESERVES / RESOURCES 0.5 mmbls (2P*) 0.14 mmbls (2P) Oyong SE Gobe (Indonesia) (PNG) 2.5 mmbls (2P) M Maari i (New Zealand) 0.5 mmbls (2P equiv*) Manaia / Maari other GAS RESOURCES / RESERVES (New Zealand) 1P Reserves 2
Slide 10: Net Production Forecast
Cue Energy Resources Limited NET PRODUCTION FORECAST For personal use only 3500 3000 2500 B 2000 SE Gobe gas O Barikewa gas Cash Maple gas E 1500 P D 1000 500 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 SE Gobe Oil Oyong Oil Maari Oil Manaia, Maari Other Oil Oyong Gas Wortel Gas Other Gas
Slide 11: Project Updates
For personal use only PROJECT UPDATES
Slide 12: Asset Location Map
ASSET LOCATION MAP Cue Energy Resources Limited For personal use only MALAYSIA OIL PRODUCTION PDL3 C Cue 5 5.568892% 568892% (SE Gobe Unit 3.285651%) OIL, GAS PRODUCTION EXPLORATION Sampang PSC PPL190 Cue 15% IRIAN JAYA Cue 10.947% INDONESIA PNG PORT MORESBY CONTINGENT GAS RESOURCE AC/RL 7 DARWIN CO
Slide 13: Papua New Guinea
PNG PAPUA NEW GUINEA For personal use only NT QLD HIDES GAS FIELD MORAN OIL FIELD AGOGO OIL FIELD HEDINIA/ IAGIFU OIL FIELD GOBE, SE GOBE OIL FIELDS PPL 190 KIMU GAS FIELD PRL 8 PDL 3 KUTUBU PIPELINE BARIKEWA GAS FIELD PRL 9 Proposed Gas Pipeline KUMUL MARINE TERMINAL To Port Moresby CUE ACREAGE 0 5
Slide 14: South East Gobe Field
PAPUA NEW GUINEA Cue Energy Resources Limited SOUTH EAST GOBE FIELD For personal use only Makas PPL190 Makas PPL219 Gobe Main Field Gobe 2X Wasuma Gobe 7X South East Gobe Field PDL4 Gobe 4 SEG 9 SEG 3 SEG 8 SEG 10 PPL206 PDL3 SEG 1 Gobe 3X PDL4 SEG 7 SEG 13 SEG 2 SEG 5,6 SEG 14 SEG 12 SEG 11 Saunder
Slide 15: Sampang PSC – Indonesia
SAMPANG PSC – INDONESIA Cue Energy Resources Limited For personal use only Source Santos Ltd
Slide 16: Development Concept
Cue Energy Resources Limited DEVELOPMENT CONCEPT For personal use only Oil Phase Gas Phase Source Santos Ltd … three stage development
Slide 17: Oyong Development
OYONG DEVELOPMENT Cue Energy Resources Limited For personal use only OIL PHASE ¾ First oil September 2007, 2Q 2009 4100 bopd Well Head Deck gross Stacked Template Structure (STS) ¾ 6-10 million barrels recoverable 12.5m Conductor Pile ¾ 2.2 million barrels produced to 31 Dec 2008 Sea 10m Surface GAS
Slide 18: Wortel Gas Discovery
WORTEL GAS DISCOVERY For personal use only Limit of Oyong 3D seismic Wortel-1 Wortel-2 Gas Pare Lead Gas above oil Oil Limit of Wortel reservoir RECOVERABLE GAS POTENTIAL (BCF) LOW MID HIGH 60 100 130 Depth Map … tie to Oyong
Slide 19: Wortel Gas Discovery
Cue Energy Resources Limited For personal use only WORTEL GAS DISCOVERY ¾ 140 metre g gas column above g gas/water contact ¾ Reservoir younger than at Oyong ¾ Tie back to Oyong ¾ Development p approval pp 3Q 2009 ¾ First gas IQ 2011 ¾ Estimated CAPEX US$121 million ¾ Cue share US$18$ million
Slide 20: New Zealand Maari Oil Field
NEW ZEALAND Cue Energy Resources Limited MAARI OIL FIELD For personal use only 5km Maari Maari-1 Moki- Moki-1 Proposed p well Maarii-2 Maari- M Moki- Moki-2A OMV (Operator) 69% Todd 16% Horizon 10% Cue 5% PMP 38160 PEP 38413 Pohokura Manaia New Plymouth Manaia -1 (prop) Tui area fields Kaimiro Maui-
Slide 21: Maari Development Scheme
Cue Energy Resources Limited MAARI DEVELOPMENT SCHEME For personal use only Source OMV New Zealand … development underway
Slide 22: For personal use only
Cue Energy Resources Limited For personal use only
Slide 23: Maari Oil Development
Cue Energy Resources Limited MAARI OIL DEVELOPMENT For personal use only ¾ Platform, FPSO installed, Development drilling in progress ¾ First oil 1Q 2009, full production August 2009 ¾ Initial rate ~ 35,000 bopd Cue share ~ 1,750 bopd ¾ P50 oil reserves ~ 50 million barrels Cue share ~ 2.5 million b
Slide 24: Manaia
MANAIA Cue Energy Resources Limited Maari WHP For personal use only Manaia Oil Field Maari Oil Field Top Mangahewa Sandstone Depth Map MAARI Moki Mangahewa MANAIA Scale 2km
Slide 25: Carnarvon Basin Permits
CARNARVON BASIN PERMITS Cue Energy Resources Limited For personal use only LEGEND Oil Field Gas Condensate Field Cue Operated Permit Cue Farmout Permit 0 25km • Cue 100% WA-389-P Rose 3D Seismic Survey WA-409-P Cue 50% Cue 20% Cue 15% Cue 20% MEO + 5% Zeus Option … adjacent to large fields
Slide 26: Artemis Prospect
Cue Energy Resources Limited ARTEMIS PROSPECT For personal use only WA--360- WA 360-P Artemis Wheatstone gas field Source MEO 2009
Slide 27: Artemis Prospect
Cue Energy Resources Limited ARTEMIS PROSPECT For personal use only Gas Source MEO 2009
Slide 28: Ashmore Cartier Lease Australia
Cue Energy Resources Limited ASHMORE CARTIER LEASE AUSTRALIA For personal use only Location Map detail map area Sunrise- Troubadour Evan Shoals Western Australia Bayu-Undan AC/RL7 Cash-Maple Field Cue 20% Recoverable gas (BCF) POTENTIAL Challis/ Cassini 1P equiv 2P equiv 3P equiv 290 640 1430 Skua C
Slide 29: Bass Basin Permits Australia
BASS BASIN PERMITS AUSTRALIA Cue Energy Resources Limited For personal use only CUEBASS08 2D Seismic Survey outline Peejay-1 gas pipeline (Cue 10% interest) … focus of renewed industry interest
Slide 30: Spikey Beach Prospect
Cue Energy Resources Limited SPIKEY BEACH PROSPECT For personal use only Spikey Beach-1 Top Eastern View objective Proposed TD 2078m RT POTENTIAL Recoverable oil 16 - 30 mmbbls Pelican gas field Cue share 10%
Slide 31: Activity Timing
Cue Energy Resources Limited ACTIVITY TIMING For personal use only 2008 2009 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q EXPLORATION SEISMIC T/37P T/38P (2D) WA-389-P (3D) EXPLORATION/APPRAISAL DRILLING PPL190 Cobra -1A T/38P Spikey Beach -1 WA-361-P Zeus -1 PEP38413 Manaia -1 DEVELOPMENT PROGRAM MAARI FPSO & WHP INSTA
Slide 32: Summary: Why Invest in Cue
Cue Energy Resources Limited SUMMARY For personal use only WHY INVEST IN CUE • Balanced portfolio Large increase in oil production Gas production beginning Appraisal drilling E l Exploration ti drilling d illi Quality exploration acreage Large gas upside
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