Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (March 2010)
36 slides from Cue Energy Resources's investor presentation, Mar 12, 2010
Slide 1: ASX fax cover sheet: Cue Presentation March 2010
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: Cue Energy Resources Limited Presentation March 2010
For personal use only Cue Energy Resources Limited PRESENTATION March 2010
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, future acts and events. Such statements are generally classified as forward looking statements and involve known risks, expectations, unc
Slide 4: For personal use only
Cue Energy Resources Limited For personal use only CORPORATE UPDATE
Slide 5: Cue Energy Statistics and Largest Shareholders
CUE ENERGY STATISTICS Cue Energy Resources Limited For personal use only 20 Largest Shareholders Percentage Shareholder Ordinary Shares Held Australian Registered Company Todd Petroleum Mining Company Limited 163,103,314 23.52% Shareholders 4,909 UOB Kay Hian Private Limited 115,596,671 16.67% Octan
Slide 6: Directors & Executives
Cue Energy Resources Limited DIRECTORS & EXECUTIVES For personal use only Board Richard Tweedie LL.B (NON NON EXECUTIVE CHAIRMAN) MD Todd Energy NZ – 27% of shares Leon Musca LL.B (NON EXECUTIVE DIRECTOR) Lawyer - 1.8% of shares Steven Koroknay (B Eng) (NON EXECUTIVE DIRECTOR) 30 years experience Jo
Slide 7: Asset Location Map
ASSET LOCATION MAP Cue Energy Resources Limited For personal use only MALAYSIA OIL PRODUCTION PDL3 Cue 5.568892% (SE Gobe Unit 3.285651%) OIL, GAS PRODUCTION EXPLORATION Sampang PSC PPL190 IRIAN JAYA Cue 15% Cue 10.947% INDONESIA PNG CONTINGENT GAS PORT MORESBY RESOURCE AC/RL 7 Cue 20% DARWIN CONTIN
Slide 8: Cue Hydrocarbon Inventory
CUE HYDROCARBON INVENTORY Cue Energy Resources Limited For personal use only OIL RESERVES / RESOURCES 0.5 mmbls (2P equiv*) Manaia / Maari other 2.6 mmbls (2P) (New Zealand) Maari (New Zealand) 0.27 mmbls (2P*) Oyong (Indonesia) 0.12 mmbls (2P) SE Gobe (PNG) GAS RESOURCES / RESERVES ~30 BCF (2P equi
Slide 9: Net Production Forecast
Cue Energy Resources Limited NET PRODUCTION FORECAST For personal use only 3500 3000 SE Gobe gas Barikewa gas Cash Maple gas 2500 B O 2000 E P 1500 D 1000 500 0 2010 2011 2012 2013 2014 2015 2016 2017 SE Gobe Oil Oyong Oil Maari Oil Manaia, M2A Oil Oyong Gas Wortel Gas Other Gas
Slide 10: 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 capitalisation greater than A$ 500 million 1. Indigenous Growth EXPLORATION APPRAISAL DEVELOPMENT PRODUCTION 2. Acquisitions / Mergers … balanced portfo
Slide 11: Cue Opportunities for Growth
Cue Energy Resources Limited CUE OPPORTUNITIES FOR GROWTH For personal use only Likely Exploration Appraisal Production development Carnarvon Basin LNG Permits PNG: PRL9 Scale Gas • Artemis -1 Barikewa -3 • Caterina -1 NZ: PEP51313 • NZ: Maari Oil • Matariki • Ind: Oyong • Te Whatu • PNG: SE Gobe Ga
Slide 12: LNG Scale Gas Prospects
Cue Energy Resources Limited For personal use only LNG SCALE GAS PROSPECTS
Slide 13: Carnarvon Basin Permits
Cue Energy Resources Limited CARNARVON BASIN PERMITS For personal use only LEGEND Oil Field Caterina • 5 permits on trend with prospect Gas Condensate Field Cue Operated Permit WA-389-P major discoveries and Cue Non-Operated Permit new developments Artemis WA-409-P prospect Planned Wheatstone WA-359
Slide 14: WA-360-P: Artemis Prospect
Cue Energy Resources Limited WA WA--360- 360-P: ARTEMIS PROSPECT For personal use only Participating JV Participants Interest Facies Northwest Shelf Exploration 70% (Operator) * change to Fault Pty Ltd (MEO subsidiary) marine shale boundary Cue Energy Resources Ltd 15% Rankin Trend Pty Ltd (Moby 15%
Slide 15: WA-389-P: Prospects and Leads
Cue Energy Resources Limited WA WA--389- 389-P: PROSPECTS and LEADS For personal use only Low Mid High Gas-in-Place (Tcf) (Tcf) (Tcf) WA-389-P Caterina -1 prospect 2.7 3.9 5.3 Ezard Rockpool lead 1.2 1.5 1.9 Donovans Ezard lead 0.5 1.6 10.9 The Point (primary Top Mungaroo objective only) Caterina •
Slide 16: WA-389-P: Caterina Prospect
WA WA--389- 389-P: Caterina Prospect Cue Energy Resources Limited For personal use only WA-388-P WA-389-P CUE 100% Near Top Mungaroo - Depth Map 4300mSS closing contour • P50 GIIP @ Top Mungaroo – 4 Tcf • Significant upside – P50 GIIP for all objectives ~ 10.7 Tcf Scale 5km
Slide 17: WA-389-P: Caterina Prospect
WA WA--389- 389-P: Caterina Prospect Cue Energy Resources Limited For personal use only Amplitude Map WA-389-P Legendre FMN Athol FMN Intra-Athol sst top Brigadier FMN Near top Mungaroo FMN Intra- Mungaroo (Channels) INLINE 3130 Depth SEGY Volume
Slide 18: WA-389-P: Caterina Prospect Amplitude Variation with Offset
Cue Energy Resources Limited For personal use only WA WA--389- 389-P: Caterina Prospect WA-388-P WA-389-P Amplitude Variation with Offset Near Top Mungaroo Amplitude Map MID TRACES FAR TRACES NEAR TRACES
Slide 19: Papua New Guinea
PNG PAPUA NEW GUINEA Cue Energy Resources Limited For personal use only NT QLD PNG LNG Project 0 50 KILOMETRES
Slide 20: PRL9 - Barikewa Gas Field
Cue Energy Resources Limited PRL9 - Barikewa Gas Field For personal use only Planned PNG LNG Gas Pipeline • Barikewa is a potentially large resource • Mean – 1.5 Tcf • P10 – 2.6 Tcf (Source - Oil Search) Possible Barikewa -3 • Recently acquired 60 km Location 2D seismic data over field •Planning to
Slide 21: Oil & Gas/Condensate Prospects
Cue Energy Resources Limited For personal use only OIL & GAS/CONDENSATE PROSPECTS
Slide 22: PEP 51313 Permit
PEP 51313 Permit Cue Energy Resources Limited For personal use only N JV Participants Participating Kiwa – 1 Interest Hector - 1 Todd Exploration Ltd 50% (Operator) Hine PEP Horizon Oil (New Zealand) Pukeko - 1 38483 PMP Maari 30% Limited New Zealand Pukeko 38160 Moki - 1 Maari Maari -1 Maari -2 Mok
Slide 23: PEP 51149 Permit
Cue Energy Resources Limited PEP 51149 Permit For personal use only Participating JV Participants Interest New Plymouth Todd Exploration Ltd 40% (Operator) Mighty River Power Gas 30% Investments Ltd Cue Taranaki Pty Limited 20% Kaimiro Gas Field Mosaic Oil Limited 10% Goldie Oil Field • Drilling dec
Slide 24: T/37P + T/38P Bass Basin Permits
Cue Energy Resources Limited T/37P + T/38P BASS BASIN PERMITS For personal use only Participating JV Participants Interest CUEBASS08 Cue Energy Resources Ltd 50% (Operator) * 2D Seismic Survey outline Exoil Limited 50% * * 10% interest on Spikey Beach Block, Beach Energy Limited 80% • Recent industr
Slide 25: AC/RL7 Ashmore Cartier
Cue Energy Resources Limited AC/RL7 ASHMORE CARTIER 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 2P 3P equiv equiv equiv 290 640 1430 Skua Crux Gas F
Slide 26: Production Updates
Cue Energy Resources Limited For personal use only PRODUCTION UPDATES
Slide 27: South East Gobe Field, Papua New Guinea
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 28: Sampang PSC – Indonesia
SAMPANG PSC – INDONESIA Cue Energy Resources Limited For personal use only Wortel Source Santos Ltd
Slide 29: Development Concept
Cue Energy Resources Limited DEVELOPMENT CONCEPT For personal use only Future Oil Phase Development Development Completed Gas Phase Source Santos Ltd … three stage development
Slide 30: Wortel Gas Discovery
Cue Energy Resources Limited 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 31: Wortel Gas Discovery
Cue Energy Resources Limited For personal use only WORTEL GAS DISCOVERY 140 metre gas column above gas/water contact Reservoir younger than at Oyong Tie back to Oyong Plan of development submitted to government First gas 3Q 2011 Estimated CAPEX US$113 million Cue share US$17 million
Slide 32: Maari Oil Field, New Zealand
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 5% Manaia New Plymouth Manaia -1 Tui area fields Kaimiro Maui- Maui-4 Maui Kapuni Kup
Slide 33: Maari Development Scheme
Cue Energy Resources Limited MAARI DEVELOPMENT SCHEME For personal use only Source OMV New Zealand … development completed
Slide 34: Maari Oil Development
Cue Energy Resources Limited MAARI OIL DEVELOPMENT For personal use only Platform, FPSO installed, Development drilling completed First oil 1Q 2009 Initial rate ~ 35,000 bopd Cue share ~ 1,750 bopd P50 oil reserves ~ 52 million barrels Cue share ~ 2.6 million barrels (area upside ~ 20+ mmbbls) Capit
Slide 35: Maari and Manaia Oilfields, South Maari
Maari and Manaia oilfields Cue Energy Resources Limited For personal use only South Maari
Slide 36: 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 Appraisal drilling Exploration drilling Quality exploration acreage Very large gas upside
Cue Energy Resources — Investor Presentation (March 2010) on 6ix