Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Good Oil Conference 2007
30 slides from Cue Energy Resources's conference presentation, Sep 6, 2007
Slide 1: ASX announcement cover note: Good Oil Conference presentation
Cue Energy Resources Limited A.B.N. 45 066 383 971 Level 21 For personal use only 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: Presentation, Good Oil Conference, 5 September 2007
For personal use only Cue Energy Resources Limited PRESENTATION GOOD OIL CONFERENCE 5 SEPTEMBER 2007
Slide 3: Corporate Update
For personal use only CORPORATE UPDATE
Slide 4: Cue Energy Statistics and Largest Shareholders
CUE ENERGY STATISTICS Cue Energy Resources Limited For personal use only 20 Largest Shareholders Update Shareholder Ordinary Shares % Shareholders 5,600 Todd Petroleum Mining Company Limited 135,919,429 21.63% Listings Australia/PNG Octanex NL 36,380,140 5.79% Ordinary Shares 628.2 Million UOB Kay H
Slide 5: 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 Lawyer - 1.6% of shares CHIEF EXECUTIVE OFFICER 40 years exper
Slide 6: Corporate Plan
CORPORATE 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 EXPLORATION Quality areas near production APPRAISAL Jeruk - oil Manaia - oil Barikewa, Kimu - gas DEVELOPME
Slide 7: Cue Hydrocarbon Inventory
Cue Energy Resources Limited CUE HYDROCARBON INVENTORY For personal use only …Large future gas potential GAS RESOURCES 120 BCF 97 BCF Maple/Cash Kimu (Aust) (PNG) 12 BCF* Wortel (Indonesia) 12 BCF 2P* Oyong (Indonesia) 4 BCF SE Gobe OIL RESERVES 120 BCF (PNG) Barikewa 0.24 mmbls (2P) (PNG) SE Gobe 0
Slide 8: Net Oil Production Forecast
Cue Energy Resources Limited NET OIL PRODUCTION FORECAST For personal use only 900 SE Gobe# Oyong¤ Maari# 800 … gas production 2009 onwards Barrels of Oil Per Year Barrels of Oil Per Day 700 600 -1500 X 1000 500 400 -1000 300 200 - 500 100 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 # Cue es
Slide 9: Net Gas Production Forecast
Cue Energy Resources Limited For personal use only NET GAS PRODUCTION FORECAST 7 Barrels of Oil Equivalent Per Year Oyong Gas Wortel Gas 6 -1000 Billion Cubic Feet Per Year 5 - 750 4 X 1000 3 - 500 2 - 250 1 0 2009 2010 2011 2012 2013 2014 ¤ Cue entitlement estimate after government take, using cont
Slide 10: Project Updates
Cue Energy Resources Limited For personal use only PROJECT UPDATES
Slide 11: Joint Venture Interests
JOINT VENTURE INTERESTS Cue Energy Resources Limited For personal use only PDL 3 SHP 40.149650% Oil Search 36.35974% *Santos 15.921718% MALAYSIA Cue 5.568892% (SE Gobe Unit 3.285651%) PRG 2.0% Sampang PSC PPL 190 * Oil Search 62.556% * Santos 45% SPC 40% IRIAN JAYA Murray 26.497% Cue 15% Cue 10.947%
Slide 12: Papua New Guinea
PNG PAPUA NEW GUINEA Cue Energy Resources Limited For personal use only NT QLD HIDES GAS FIELD MORAN OIL FIELD AGOGO OIL FIELD HEDINIA/ IAGIFU OIL FIELD Fo GOBE, SE GOBE OIL FIELDS re lan PPL 190 KIMU GAS FIELDd PDL 3 F PRL 9 old Be PRL 8 BARIKEWA GAS FIELD lt KUTUBU PIPELINE Possible Pipeline KUMUL
Slide 13: South East Gobe Field, Papua New Guinea
PAPUA NEW GUINEA SOUTH EAST GOBE Cue Energy Resources Limited 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 Cobra -1 SEG 1
Slide 14: Sampang PSC – Indonesia
SAMPANG PSC – INDONESIA Cue Energy Resources Limited For personal use only 112°30’E 113°00’E 113°30’E KE Field Java Sea Arosbaya-1 Gunung Kembar-1 Tanjung-001 Bujur Tenjah-1 Sumberlantang-1 Bujur Tumur-1 Mandala-1 Soemerep-1 Durbuk-1 Prancak-1 7°00’S Amih Iancak-1 M a d u r a Konang-1 Gunung Geger O
Slide 15: Oyong Development Concept
Cue Energy Resources Limited OYONG DEVELOPMENT CONCEPT For personal use only Oil Storage Tanker Source Santos Ltd … two stage development
Slide 16: Production Barge Site Photos
PRODUCTION BARGE Cue Energy Resources Limited SITE PHOTOS For personal use only
Slide 17: Oyong Development Status
OYONG DEVELOPMENT Cue Energy Resources Limited STATUS For personal use only Well Head Deck • Platform installed, drilling completed Stacked Template Structure (STS) • Storage tanker on location Conductor Pile 12.5m • Production barge being commissioned Sea 10m Surface • Capital costs ~ USD170 millio
Slide 18: Wortel Gas Discovery
WORTEL GAS DISCOVERY For personal use only Limit of Oyong 3D seismic -2 ? RECOVERABLE GAS POTENTIAL (BCF) LOW MID HIGH ? 30 90 150 Depth Map … tie to Oyong
Slide 19: Wortel Gas Discovery
Cue Energy Resources Limited WORTEL GAS DISCOVERY For personal use only • 140 metre gas column above gas/water contact • Reservoir younger than at Oyong • 2D seismic infill – December 2007 • Wortel -3 appraisal well – Q1 2008 • Tie to Oyong • First gas – Q2 2010 • Estimated CAPEX US$95 million • Cue
Slide 20: Jeruk Oil Discovery
Cue Energy Resources Limited JERUK OIL DISCOVERY For personal use only Jeruk- Jeruk-2 Jeruk- Jeruk-1 Jeruk- Jeruk-3 Well Surface Location Reservoir Penetration Oil- Oil-water contact 2km Cue Mapping Top Kujung Limestone Depth Structure
Slide 21: Jeruk Oil Discovery
Cue Energy Resources Limited JERUK OIL DISCOVERY For personal use only • Shallow water ~ 42 metres, deep wells ~ 5000 metres • Kujung limestone reservoir • Oil flows from all three wells • Reduced oil column ~ approximately 145 metres • Estimated recoverable oil less than 50 mmbbls • Possible develo
Slide 22: 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 Maari- Maari-2 Moki- Moki-2A OMV (Operator) 69% Todd 16% Horizon 10% Cue 5% PMP 38160 PEP 38413 Pohokura Manaia New Plymouth Kaimiro Tui area fields Maui- Maui-4 Maui Kapuni Kupe Kupe South
Slide 23: Maari Development Scheme
Cue Energy Resources Limited MAARI DEVELOPMENT SCHEME For personal use only … development underway Source OMV New Zealand
Slide 24: Maari Oil Development
Cue Energy Resources Limited MAARI OIL DEVELOPMENT For personal use only • P50 oil reserves ~ 50 million barrels - Cue share ~ 2.5 million barrels (area upside ~ 10-20 mmbbls) • Capital costs ~ US$505 million gross - Cue share ~ US$ 25 million • Project loan facility US$20 million • Platform being c
Slide 25: Location Carnarvon Basin Permits
LOCATION CARNARVON BASIN PERMITS Cue Energy Resources Limited For personal use only • Cue 100% WA-389-P Cue 50% Cue 50% Cue 50% … adjacent to large fields
Slide 26: Ashmore Cartier Lease Australia
Cue Energy Resources Limited ASHMORE CARTIER LEASE AUSTRALIA For personal use only Location Map detail map area Sunraise- Troubadour Evan Shoals Western Australia Western Australia NT Bayu-Undan AC/RL7 m 00 k Cash-Maple Cash-Maple Field ~2 Cue 20% ~ 700km Challis/ Cassini Skua Crux Gas Field Scott R
Slide 27: Bass Basin Permits, Australia
BASS BASIN PERMITS Cue Energy Resources Limited AUSTRALIA For personal use only Rawson Resources 200km2 3D, 2 wells Tap JV 511km 2D, 506km2 3D 2 wells + 3D Origin JV 275km 2D, 235km2 3D 1 well gas pipeline … focus of renewed industry interest
Slide 28: 2007/8 Activity
2007/8 ACTIVITY Cue Energy Resources Limited For personal use only Papua New Guinea • SE Gobe oil production continues • Barikewa geological survey completed • Kimu infill seismic completed • Cobra – 1 (Murray Deep) well • Appraisal drilling Barikewa, possibly Kimu Indonesia • Oyong oil production b
Slide 29: Summary
SUMMARY Cue Energy Resources Limited For personal use only • Balanced portfolio Current oil production Large increase in oil production Gas production beginning Appraisal drilling Exploration drilling Quality exploration acreage Large gas upside
Slide 30: Disclaimer & Important Notice
Cue Energy Resources Limited 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, unc