Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (January 2019)
11 slides from Cue Energy Resources's shareholder meeting presentation, Jan 8, 2019
Slide 1: General Meeting of Shareholders
CUE ENERGY RESOURCES LIMITED For personal use only ASX:CUE General Meeting of Shareholders 8 January 2019
Slide 2: Disclaimer and Important Notice
Disclaimer and Important Notice This presentation is for the sole purpose of preliminary background information to enable recipients to review the For personal use only business activities of Cue Energy Resources Limited(ASX: CUE). The material provided does not constitute an invitation, solicitatio
Slide 3: Resolution to be voted on
General Meeting of Shareholders Tuesday 8 January 2019 For personal use only Resolution to be voted on: CUE Exploration to sell 15% participating interest in WA-359-P and grant an option to acquire 5.36% participating interest in WA-409-P to NZOGIPL • Ironbark has potential to add a step change in C
Slide 4: Ironbark - Company Changing Opportunity
Ironbark - Company Changing Opportunity Agreements provide a clear path to the drilling of Ironbark-1 For personal use only • Ironbark provides a transformative opportunity for Cue • 15 Tcf(1) prospective recoverable gas in the Carnarvon Basin (100%, unrisked) • 50km from North West Shelf LNG infras
Slide 5: Agreements
New Zealand Oil & Gas Agreements WA-359-P farm in and WA-409-P option For personal use only • New Zealand Oil & Gas agreements complete the well funding for Ironbark-1 • Terms for WA-359-P and WA-409-P agreements with NZOG are identical to Cue’s agreements with Beach Energy November 2017, pro-rata f
Slide 6: WA-359-P Co-ordination Agreement
WA-359-P Co-ordination Agreement JV formed and Ironbark well conditionally fully funded For personal use only • Cue, BP, Beach Energy and New Zealand Oil & Gas Co-ordination Agreement executed 26th October 2018 • BP currently undertaking duties as operator with funding committed from all parties to
Slide 7: Ironbark Prospect
Ironbark Prospect WA-359-P Australia - Cue 100%(1) TR17 structure map with Ironbark prospect For personal use only • Simple, Deep Mungaroo prospect with 15tcf(1) potential recoverable gas resource • 400km2 fault bounded horst structure with North/South dip closure • Defined by high quality, recently
Slide 8: Ironbark Upside Potential
Ironbark Upside Potential WA-409-P and WA-389-P WA-409-P WA-389-P For personal use only • Adjoining permit north of WA-359-P • Adjoining permit northwest of WA-359-P • Contains Ironbark high case • Bluegum lead within the Banambu Horst is • BP (Operator) 80%; Cue 20%* directly analogous and similar
Slide 9: Ironbark-1 well funding
For personal use only Ironbark-1 well funding • Cue cash position of $21million as at 30 Sept 2018 with no debt has enabled 21.5% Participating Interest in WA-359-P to be retained • June 30 2018 $17m, up 37% YoY • US$8m escrow to be funded from cash in ~Q1 2019 for Cue’s expected Ironbark-1 well cos
Slide 10: Independent Directors' recommendation
For personal use only Independent Directors’ recommendation • Ironbark has potential to add a step change in Cue’s value if successful • BP are currently undertaking planning the Ironbark-1 well on behalf of Cue under the Co-ordination Agreement between Cue, BP, Beach and NZOG • Cue Shareholder appr
Slide 11: For personal use only
For personal use only Level 3, 10 Queen 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
Cue Energy Resources — Shareholder Meeting (January 2019) on 6ix