Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (October 2022)
19 slides from Cue Energy Resources's shareholder meeting presentation, Oct 27, 2022
Slide 1: 2022 Annual General Meeting
2022 Annual For personal use only General Meeting 27 October 2022 CUE ENERGY RESOURCES LIMITED ASX:CUE
Slide 2: Disclaimer and Important Notices
Disclaimer and Important Notices Various statements in this document may constitute statements relating to RESERVES GOVERNANCE ARRANGEMENTS AND INTERNAL CONTROLS For personal use only intentions, opinion, expectations, present and future operations, possible future Cue estimates and reports its petr
Slide 3: A year of growth
A year of growth For personal use only Strong cash generation and profitability Market with low unit cost Capitalisation $51 million (21 Oct 2022) Diversified portfolio of six production Share price $0.073 assets (21 Oct 2022) Cash $17.5 million (30 Sept 2022) Acquisition of onshore Australia gas pr
Slide 4: FY22 Highlights
FY22 Highlights Year of sustainable change, growth and improved performance for Cue For personal use only Profit after Tax 226% Revenue 98% EBITDAX 179% $16.1 million $44.4 million $29.0 million Production 59% Cash cost Gross Profit Margin >600,000 boe $23 /boe Oil $102 /bbl Gas $31 /boe 2022 Annual
Slide 5: Diversified oil & gas production
Diversified oil & gas production For personal use only Mahato PSC Jakarta Office Interest 12.5% Onshore oil production Mereenie/Palm Valley/Dingo Interest 7.5 – 15% Onshore gas and oil production Sampang PSC Interest 15% Offshore gas production Maari Interest 5% Offshore oil production Melbourne Off
Slide 6: Strong FY22 revenue with expected near term growth
Strong FY22 revenue with expected near term growth For personal use only Cue Annual Revenue $A million Near term revenue growth anticipated from existing assets 44.4 New Zealand 24.5 25.7 Australia 23.9 22.4 Indonesia FY18 FY19 FY20 FY21 FY22 2022 Annual General Meeting 27 October 2022
Slide 7: Production Growth expected to continue
Production Growth expected to continue For personal use only FY22 Production by Country Net Production Australia 700,000 Barrels of oil equivalent (boe) 30% Indonesia 57% 600,000 500,000 New Zealand 13% 400,000 300,000 FY22 Production by Product Oil & 200,000 Condensate 35% Gas 100,000 65% 0 FY21 FY
Slide 8: 122% 2P Reserves replacement ratio
122% 2P Reserves replacement ratio For personal use only 5mmboe Contingent resource 122% FY22 Reserves Replacement ratio 1)The reserves included in this graphic are as per the updated statements released to the market in the Annual Report on 27 Sep 2022. The Company confirms that there are no known
Slide 9: PB Field well and PB drilling – Mahato PSC
For personal use only 2022 Annual General Meeting 27 October 2022 PB Field well and PB drilling– Mahato PSC Oilfield Production Facility Texcal
Slide 10: Mahato PSC
Mahato PSC Drilling continuing with 8 more development wells in the current program For personal use only PB-21 online at approx 500 bopd barrels of oil per day PB-10 drilling and expected to be complete early November PB Field Monthly Production and FY23 Forecast kbbl 400 350 300 250 200 150 100 50
Slide 11: Grati Gas Processing plant - Sampang PSC
For personal use only 2022 Annual General Meeting 27 October 2022 Grati Gas Processing plant - Sampang PSC
Slide 12: Sampang PSC
Sampang PSC Dependable gas production with Paus Biru FID pending For personal use only $12.1 million FY22 revenue to Cue from Oyong and Wortel fixed price gas contracts Paus Biru Plan of Development approved in June 2021 for a single well development with 27km pipeline to existing infrastructure and
Slide 13: PV-12 drilling – Amadeus Basin
For personal use only 2022 Annual General Meeting 27 October 2022 PV-12 drilling – Amadeus Basin
Slide 14: Amadeus Basin
Amadeus Basin Mereenie, Palm Valley and Dingo For personal use only Acquisition of interests in Mereenie, Palm Valley and Dingo field completed in October 2021 $8.2 million FY22 revenue from October 2021(9 months) from term gas contracts and gas / oil sales at market Mereenie, Palm Valley & prices D
Slide 15: Successful Palm Valley (PV-12) drilling
Amadeus Basin Successful Palm Valley 12 (PV-12) drilling For personal use only PV-12 ST2 successfully flow tested 11.8 million cubic feet of gas per day (mmcfd) from the Pacoota P1 reservoir Well is currently being completed as a gas production well with tie-in to existing facilities expected before
Slide 16: Maari
Maari Continued solid performance for Cue with $9.2 For personal use only million FY22 revenue and $5.4 million NPAT Maari crude continues to attract a premium over Dated Brent Current production ~4200 bopd with 2 wells offline and expected to resume production during FY23 MN1 ESP replacement (~85
Slide 17: Sustainability
Sustainability For personal use only Cue Climate Change policy published in September 2021 Sustainability and Taskforce on Climate- related Financial Disclosure (TCFD) reporting in FY22 Annual Report Emissions measurement and reduction initiatives ongoing in Cue’s Joint Venture operations 2022 Annua
Slide 18: Strong performance with expected growth
Strong performance with expected growth For personal use only Diversified Production Portfolio Strong, Sustainable FY22 Results An oil and gas production and exploration Achieved $44 million revenue, $16 million company with a diversified mix of profit after tax and delivered a 59% production assets
Slide 19: For personal use only
For personal use only Level 3, 10 Queen Street, Melbourne, Victoria, AUSTRALIA 3000 (+61) 3 8610 4000 (+61) 3 9614 2142 mail@cuenrg.com.au WWW.CUENRG.COM. AU 2022 Annual General Meeting 27 October 2022 Wortel WHP Medco Energi
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