Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (January 2005)
28 slides from Cue Energy Resources's investor presentation, Jan 28, 2005
Slide 1: Facsimile transmission to Company Announcements Office
Cue Energy Resources Limited A.B.N. 45 066 383 971 25th Floor 500 Collins Street Melbourne Victoria 3000 Australia Telephone: (03) 9629 7577 Facsimile: (03) 9629 7318 Email: mail@cuenrg.com.au Website: www.cuenrg.com.au FACSIMILE TRANSMISSION TO : Company Announcements Office 10th Floor 20 Bond Stre
Slide 2: Investor Presentation January 2005
Cue Energy Resources Limited INVESTOR PRESENTATION JANUARY 2005
Slide 3: Summary History
Cue Energy Resources Limited SUMMARY HISTORY 1981 Cue Energy floated in New Zealand 1995 SE Gobe oil field acquisition - PNG ASX listing in Australia 1997 New exploration areas – Indonesia 1998 SE Gobe oil production - PNG New exploration areas – PNG 2000 New exploration area – Australia Exploration
Slide 4: Cue Energy Statistics
Cue Energy Resources Limited CUE ENERGY STATISTICS Shareholders 4,400 Listings Australia/NZ/PNG Ordinary Shares 374.2 Million Market Capitalisation @ A0.30 cents A$112 Million
Slide 5: Directors & Executives
Cue Energy Resources Limited DIRECTORS & EXECUTIVES CHAIRMAN Richard Tweedie MD Todd Energy NZ DIRECTORS Geoffrey Albers Founder Ken Hoolihan Exploration Manager Todd Leon Musca Lawyer CHIEF EXECUTIVE OFFICER Bob Coppin 37 years experience CHIEF FINANCIAL OFFICER Andrew Knox 20 years experience
Slide 6: Corporate Plan
CORPORATE PLAN Cue Energy Resources Limited SHORT TERM • Existing Exploration & Production - PNG, Indonesia • Commercialise Current Assets - Oyong Oil & Gas Field - Maari Oil Field • Evaluate Jeruk Result MEDIUM TERM • Growth - New Exploration Areas - Acquisitions - Commercialise PNG Gas
Slide 7: Cue Hydrocarbon Inventory
Cue Energy Resources Limited CUE HYDROCARBON INVENTORY GAS RESOURCES 20 BCF (2P equivalent) 4 BCF 97 BCF Oyong SE Gobe Kimu (Indonesia) (PNG) (PNG) OIL RESOURCES 120 BCF 0.3 mmbls (2P) Barikewa SE Gobe (PNG) (PNG) 2.5 mmbls (2P equivalent) 1.5 mmbls (2P equivalent) Maari Oyong (New Zealand) (Indones
Slide 8: Joint Venture Interests
Cue Energy Resources Limited PDL 3 SHP 40.149650% Orogen 20.5% Oil Search 15.859740% MALAYSIA *Santos 15.921718% Cue 5.568892% (SE Gobe Unit 3.285651%) PRG 2.0% PPL 190 * Santos 31.278% Oil Search 31.278% IRIAN JAYA Murray 26.497% Cue 10.947% Sampang PSC INDONESIA Gobe Development PNG * Santos 45% P
Slide 9: Location Map - Papua New Guinea
PAPUA NEW GUINEA LOCATION MAP Cue Energy Resources Limited P'NYANG GAS FIELD PPL 213 HIDES GAS FIELD PPL 184 APPL PRL 228 3 PDL 1 GOBE & S.E. GOBE PPL 202 OIL FIELDS PRL 2 PRL4 PPL PDL 3 138 Goroka PPL PRL PPL199 157 5 PPL 218 PPL 190 PPL 219 PPL138 JUHA GAS FIELD PPL 219 KUTUBU PDL2 PDL4 OIL FIELDS
Slide 10: SE Gobe Area
PAPUA NEW GUINEA SE GOBE AREA Cue Energy Resources Limited MAKAS GOBE WASUMA MAIN FIELD (HEALY) Gobe-2X PPL 190 PPL 190 Gobe-7X 50 - 130 SEG-9 SEG-1 million SEG-8 barrels PDL 4 SEG-2 PPL 219 SEG-3 SEG-10 PPL 206 S.E.GOBE FIELD Gobe-3X Saunders-1X SEG-7 SEG-6 SEG-5 Bilip-1 SAUNDERS GILLESPIE GOBE UNI
Slide 11: Wasuma Dipline
WASUMA DIPLINE Cue Energy Resources Limited SW SE GOBE WASUMA NE BA SE DA RA I L S TO RO S S IAG IFU SS PN96-204 Source: Oil Search Ltd
Slide 12: Sampang PSC – Location Map
SAMPANG PSC – LOCATION MAP Cue Energy Resources Limited 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 Sumenep Gunung Geger Outcrop Lerpak-1 Kona
Slide 13: Oyong Field Top Mundu Depth Structure
OYONG FIELD Top Mundu Depth Structure Cue Energy Resources Limited Source Santos Ltd
Slide 14: Oyong
OYONG Line 90MDR-204 Oyong -2 Cue Energy Resources Limited Oyong -1 S SP 450 400 350 300 250 N Lidah Fm 0.500 Paciran Fm Hydrocarbon 1.000 Mundu Fm Wonocolo Fm 1.500 Upper Ok Fm Top Ngrayong 2.000 Ngrayong Fluor 2.500 3.000 Source Santos Ltd
Slide 15: Oyong - Schematic Cross Section
Cue Energy Resources Limited OYONG - SCHEMATIC CROSS SECTION West East Oyong-1 & 2 Oyong-3 Mundu 120+ metres Reservoir GOC 902mss Gas OWC 940mss 38 metres Oil Non Reservoir Source Santos Ltd
Slide 16: Oyong Development Concept
Cue Energy Resources Limited OYONG DEVELOPMENT CONCEPT Export Tanker Source Santos Ltd
Slide 17: Tall Template Structure
TALL TEMPLATE STRUCTURE Cue Energy Resources Limited Conductor Pile Well Head Deck Stacked Template Structure (STS) 12.5m Sea Surface 10m 31m Sea Floor 3m Source: Santos Ltd
Slide 18: Oyong Development Status
OYONG DEVELOPMENT STATUS Cue Energy Resources Limited Well Head Deck • Gas Sales Agreement signed Stacked Template Structure (STS) • Plan of development approved and Conductor Pile revision submitted 12.5m • Environmental plan approved and Sea Surface revision submitted 10m • Capital costs USD112 mi
Slide 19: Sampang PSC – Jeruk Prospect
Sampang PSC Jeruk prospect Top Kujung | Limestone Top Kujung Limestone Be Depth Structure Map 5300m MD ssses: Santos
Slide 20: Jeruk Status
JERUK STATUS Cue Energy Resources Limited (20 January 2004) • Jeruk -1 tested 4700 barrels per day of oil and water from carbonate • Mechanical problems precluded deepening or side tracking • Jeruk -2 encountered carbonate at 5126 metres • Tested 7800 barrels of oil per day from 5134 – 5152 metres •
Slide 21: Maari Development
Cue Energy Resources Limited MAARI DEVELOPMENT CUE)
Slide 22: Maari Development
Cue Energy Resources Limited MAARI DEVELOPMENT • Development decision April 2005 • P50 oil reserves 50 million barrels • CUE share 2.5 million barrels at acquisition cost of A$2.48 / barrel • Capital cost US$126-233 million gross • CUE capital cost US$6-12 million • First oil 2Q 2007 • Initial rate
Slide 23: Cue Projected Future Net Oil Production
Cue Energy Resources Limited CUE PROJECTED FUTURE NET OIL PRODUCTION SE Gobe# Oyong# Maari* Barrels of Oil Per Year Barrels of Oil Per Day 800000 - 2000 700000 600000 - 1500 500000 400000 - 1000 300000 200000 - 500 100000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 # Joint Venture
Slide 24: Cue Net Gas Production
Cue Energy Resources Limited CUE NET GAS PRODUCTION Oyong Gas# Billion Cubic Feet Per Year 2.5 2.0 1.5 (1/2 year) 1 0.5 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 # Joint Venture estimate
Slide 25: Location Bass Basin Permits
Cue Energy Resources Limited LOCATION BASS BASIN PERMITS T/37P T/38P Source: Department of Industry Tourism Resources
Slide 26: Location Carnarvon Basin Permits
Cue Energy Resources Limited LOCATION CARNARVON BASIN PERMITS Source: Department of Industry Tourism Resources
Slide 27: Indicative Cue 2005 Activity
Cue Energy Resources Limited INDICATIVE CUE 2005 ACTIVITY • 2D Seismic – PNG January 2005 • New Exploration Areas January 2005 • 3D Seismic – Indonesia January 2005 • Approval of Oyong Development January 2005 • Settle Maari Acquisition March 2005 • Commence Oyong Development First Quarter 2005 • De
Slide 28: Why Invest in Cue
Cue Energy Resources Limited WHY INVEST IN CUE • Capital appreciation • Oil production • Oyong production pending • Maari production pending • Jeruk oil discovery upside • Exploration drilling • Quality exploration acreage • Project upside PNG Gas
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