Slide 1: FY2021 Annual Results and Business Update
FY2021 Annual Results and Business Update Central Petroleum Limited (ASX:CTP) 21 September 2021 * Note: subject to the Notice and Legal Disclaimer and Appendix: Reserves and Resources information provided in this document.
Slide 2: FY2021 Performance
▪ Insert photo of Amadeus production equipment (ESS ?) FY2021 Performance CENTRAL PETROLEUM LIMITED (ASX:CTP) 2
Slide 3: FY2021 highlights
FY2021 highlights Strong Financial Performance • $59.8M revenues; $26.1M EBITDAX • Funding from 3.5 PJ pre-sale agreement • Net debt reduced by 32% to $31.3M • Debt facility extended until September 2022 Range CSG Project – pilot drilled and testing commenced • Three pilot wells drilled and commissi
Slide 4: FY2021 Results
FY2021 Results • Down 17% on FY2020 Sales volume 10.3 PJe • Weaker markets in first half; natural field decline • New Mereenie wells coming online this month • Down 8% from $65.0M in FY2020 Revenues $59.8M • Lower volumes • Higher realised oil prices • Up 4% from underlying EBITDAX1 of $25M in FY202
Slide 5: Solid operational performance
Solid operational performance With new production capacity due in September quarter Sales prices Operating costs Finance costs Exploration Corporate costs $5.83 / GJe $2.81 / GJe $5.6M $7.7M $5.0M $5.27 in FY20 $2.71 in FY20 $6.4M in FY20 $5.3M in FY20 $6.7M in FY20 ✓ Markets are ➢ Impacted by lower
Slide 6: Sell-down of producing assets to NZOG / Cue
Sell-down of producing assets to NZOG / Cue Allows Central to pursue multiple avenues for growth $85m consideration(1) for 50%, with an expected circa $35m profit(1), delivers a strong signal P Value accretive for the underlying value and quality of Central’s Amadeus Basin Producing Assets Provides
Slide 7: Funding for accelerated growth
Funding for accelerated growth The $40 million free carry will fund Central’s share of circa $100m (1) of current and near-term development investment across the Amadeus Basin Producing Assets without any cash outlay from Central Identified activities include: ✓ Recently completed four well re-compl
Slide 8: Amadeus Basin Exploration
▪ Insert photo – landscape shot ? Amadeus Basin Exploration CENTRAL PETROLEUM LIMITED (ASX:CTP) 8
Slide 9: Significant exploration upside within 12 – 18 months
Significant exploration upside within 12 – 18 months Immediate targets drilling 2021 Targeting lower risk 192 PJ of gas (96 PJ net to Central)1 Palm Valley Deep (target 123 PJ) (61.5 PJ net to Central)1 A Testing deeper reservoir (proven at Dingo) in existing field Dingo Deep (target 69 PJ) (34.5 PJ
Slide 10: Near term exploration program
Near term exploration program Our most significant exploration program for years has the potential to unlock major new resources in the Amadeus Basin. Two well exploration • Two new wells confirmed program – starting late 2021 Could more than • Targeting lower risk 192 PJ of gas (gross JV) double Ce
Slide 11: Amadeus Helium and Hydrogen Opportunities
Amadeus Helium and Hydrogen Opportunities The Amadeus Basin: A potential source for commercial quantities of Helium and “Gold” Hydrogen in sub-salt prospects CENTRAL PETROLEUM LIMITED (ASX:CTP) 11
Slide 12: Helium and Hydrogen strategy
Helium and Hydrogen strategy Central’s long-standing exploration strategy includes non-hydrocarbon gases in the Amadeus Basin ▪ Central’s farmout to Santos in 2012 was designed to explore for large sub-salt hydrocarbons, as well as Helium (He) and Hydrogen (H2). ▪ Dukas well suspended, Central pursu
Slide 13: Hydrogen (H2)
Hydrogen (H2) Hydrogen is the lightest and most abundant element in the universe ▪ Major source of energy and a potential replacement for natural gas Hydrogen Production Methods ▪ No Carbon (or CO2) is produced when Gold Green Purple Blue Grey Black hydrogen is burnt - only water vapour • Naturally
Slide 14: Helium (He)
Helium (He) Helium is the second lightest and second most abundant element in the Universe, but exceptionally rare on Earth ▪ Helium is typically produced as a by-product of LNG production ▪ Used as a cooling agent for MRI’s and super conducting magnets, satellite instrumentation, leak detection, ca
Slide 15: Excellent Potential for Helium in the Amadeus Basin
Excellent Potential for Helium in the Amadeus Basin Key Attributes Amadeus Basin Characteristics High levels of radioactive elements Amadeus has shallow fractured radiogenic granitic basement, granite wash, arkose and shales with high levels of radioactive minerals in excess of 800 My Evaporite seal
Slide 16: Amadeus Helium – gas composition
Amadeus Helium – gas composition Two wells have proven the existence of helium and hydrogen in the natural gas stream in the Amadeus Basin: Mt.Kitty-1 and Magee-1 The Helium concentrations measured at Mt Kitty and Magee are high by global comparison % composition Magee Mt Kitty CH4 39.30 13.10 C2+ 9
Slide 17: Helium Play Map Elements
Helium Play Map Elements A Helium play map has been developed for the Amadeus Basin 1. Depth to Basement Map Key play element: Granites Radiogenic basement rocks (granites) as a source. Granite proximity and presence of lean organic source rocks to provide hydrocarbon gasses to entrain Helium in old
Slide 18: Helium Play Map for Amadeus Basin
Helium Play Map for Amadeus Basin • Green areas have been identified as having the highest potential for Helium being present in valid Basement and Heavitree closures • EP115 (100%) Central sees high potential in the Zevon area • Potential for the presence of hydrocarbon gasses in association with e
Slide 19: Surat Basin CSG
Insert photo : aerial shot of Range pilot ? Surat Basin CSG Central’s Range CSG project in Queensland’s premier gas province is moving towards FID Range CSG Project • Joint venture with Incitec Pivot (50% interest) • Surat Basin - surrounded by major CSG developments and infrastructure • Potential t
Slide 20: Range CSG project update
Range CSG project update Potential to almost triple Central’s 2P reserves base and annual sales volumes • Three well pilot drilled and commissioned in June quarter • Early gas breakthrough – producing 50,000 scfd by mid August • Lower-than-expected initial water rates requires an extended dewatering
Slide 21: Development fairway
Development fairway • Arrow has development plans for areas adjoining Range • Follows Walloon Coal Measures • Significant technical information available within Arrow’s adjacent permits • Similar coal depths • Opportunity to share facilities as Arrow progresses development • Appears to be within Arr
Slide 22: Other Business Activity Updates
▪ Insert photo – landscape shot ? Other Business Activity Updates CENTRAL PETROLEUM LIMITED (ASX:CTP) 22
Slide 23: Other Business Activity Updates
Other Business Activity Updates • Continued strong demand in east coast gas markets Markets • Looking to commit to new long-term contracts once the new Mereenie wells are commissioned • Recent Mereenie production wells encountered good gas flows from the Stairway Formation Mereenie Stairway • Potent
Slide 24: Questions and Answers
Questions and Answers
Slide 25: Notice and Legal Disclaimer
Notice and Legal Disclaimer To the maximum extent permitted by law: This presentation is not intended for prospective investors and does not purport to provide all of the information an interested party may require in order to investigate the affairs of Central Petroleum Ltd (“Company”). This presen
Slide 26: Appendix: Reserves and Resources information
Appendix: Reserves and Resources information Oil and Gas Reserves and Resources Before After Reserves and contingent resources CTP Share transaction transaction Reserves and contingent resources for the Mereenie, Palm Valley and Dingo fields in this report are as at 30 June 2021 and were first repor
Slide 27: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au Investor and Media Inquiries Greg Bourke: +61 0478 318 702 Sarah Morgan: +61 0421 664 969 info@centralpetroleum.com.au Level 7, 369 Ann Street www.centralpetroleum.com.