Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (December 2019)
19 slides from Cue Energy Resources's shareholder meeting presentation, Dec 10, 2019
Slide 1: Annual General Meeting Operations Update
CUE ENERGY RESOURCES LIMITED For personal use only ASX:CUE Annual General Meeting Operations Update Good Oil10Conference Dec 2019 Cue Energy Resources Limited Perth 13th September 2018 www.cuenrg.com.au
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: Corporate overview
Corporate overview ASX:CUE Capital Structure Share price and volume For personal use only Share Price (6 Dec 2019) 12.0c 0.14 1800000 1600000 0.12 Shares on Issue 698,119,720 1400000 0.1 Market capitalisation (6 Dec 2019) A$83.7 million 1200000 0.08 1000000 Cash (Sept 30 2019) A$28.5 million 0.06 80
Slide 4: Investment Highlights
For personal use only Investment Highlights FY19 Production • $25.7 million production revenue • $12.8m net cash flow from operations Development • Paus Biru gas discovery Exploration • Farmouts secured and Ironbark-1 drilling 2020 • PB-1 well spud November 2019 4
Slide 5: Regional Assets
For personal use only Regional Assets Indonesia Exploration Mahakam Hilir PSC (Op) Mahato PSC Jakarta office Indonesia Production/Dev Sampang PSC New Zealand Production PMP3816 (Maari) Australia Exploration WA-359-P Melbourne WA-409-P Head office WA-389-P (Op) 5
Slide 6: FY19 Full Year Results
FY19 Full Year Results A$million Net Cashflow from Operations For personal use only • Revenue $25.7 million 14 $12.8m • Profit $8.5 million 10 • Production costs down 27% 6 • 54% increase in cash 2 • No debt -2 FY17 FY18 FY19 A$million Production costs A$million Cash 25 30 $28.5m $26.2m 20 25 20 15
Slide 7: Production
For personal use only Production 7
Slide 8: Maari Oil
For personal use only Maari Oil • $11 million FY19 revenue • Significant production increase in 2019 attributable to • MR6A ESP upgrade • MR5 Conversion to water injector & increased injection rates • Sustained increase in production has focussed JV on planning for a longer life asset • OMV has anno
Slide 9: Sampang Gas
For personal use only Sampang Gas • $15 million FY19 revenue from Oyong and Wortel gas fields • Direct production costs down 60% YoY due to simplified gas production system • Fixed priced gas contracts with high demand electricity producer • Additional compression at Grati onshore processing plant a
Slide 10: Development
For personal use only Development 10
Slide 11: Paus Biru Gas Discovery
For personal use only Paus Biru Gas Discovery • Paus Biru-1 exploration well in the Sampang PSC, Indonesia, drilled to 710m • Gas discovery with 13.8 mmcfd flow achieved on test • Estimated net gas pay of 29 metres intersected across the primary Mundu reservoir target • Plan of Development being pre
Slide 12: Paus Biru Development Planning
Paus Biru Development Planning • Paus Biru Plan of Development (POD) process underway For personal use only • Simple, proven, development concept is being considered • Single production well with well head platform (WHP) • 27km pipeline to existing Oyong WHP • Commercialisation through existing onsh
Slide 13: Exploration
For personal use only Exploration 13
Slide 14: Ironbark (WA-359-P)
Ironbark (WA-359-P) • Ironbark prospect: 15tcf best case prospective For personal use only recoverable gas resource • Success case value has potential to be multiples of Cue current value Farmout Complete International Operator Strong partners Ironbark-1 well fully funded Cue’s well cost c
Slide 15: Ironbark Upside Potential
Ironbark Upside Potential WA-409-P (Cue 20%*, BP 80%) WA-389-P (Cue 100%) For personal use only • Adjoining permit north of WA-359-P • Adjoining permit northwest of WA-359-P • Suspension, Extension and Variation of • Suspension, Extension and Variation of commitments granted commitments granted • Co
Slide 16: Mahato PSC
Mahato PSC Bangko • Located in the heart of the most prolific For personal use only 670 million bbl petroliferous basin in South East Asia with nearby multi billion barrel producing fields • Underexplored since the 1980s Minas 3.5 billion bbl • Permit targets typically expected to be 5 - 20mmbbl oil
Slide 17: Mahakam Hilir PSC
Mahakam Hilir PSC • Onshore Kutei Basin, East Kalimantan, a proven petroleum For personal use only Naga Utara province NU-4 well (proposed) • East Kalimantan announced as new Indonesian capital city – increased demand from 1 to 2 million people • Low cost Naga Utara 4 (NU-4) well planned as appraisa
Slide 18: Investment Highlights
For personal use only Investment Highlights • Stable revenue and strong cashflow • Cash for growth and no debt • Paus Biru gas discovery POD underway • PB-1 exploration well commenced • Ironbark: potential company changing well in 2020 18
Slide 19: 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
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