Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (October 2024)
19 slides from Cue Energy Resources's shareholder meeting presentation, Oct 23, 2024
Slide 1: CEO AGM Presentation - Amended
29 October 2024 CEO AGM Presentation - Amended Cue Energy Resources Limited (ASX: CUE) (the ‘Company’) wishes to advise that its ASX announcement dated 23 October 2024 entitled “CEO AGM Presentation” has been updated on page 10 to specify that the contingent resources stated are 2C and amend the foo
Slide 2: Cue Energy: A Portfolio of Quality Producing Assets
Cue Energy A Portfolio of Quality Producing Assets ASX:CUE Annual General Meeting Presentation CUE ENERGY RESOURCES LIMITED 23 October 2024
Slide 3: Disclaimer and Important Notices
Disclaimer and Important Notices Various statements in this document may constitute statements relating to intentions, opinion, expectations, present and future operations, possible future events and future financial prospects. Such statements are not statements of fact and are generally classified
Slide 4: Cue Energy
Cue Energy A dividend paying, ASX listed company with a diverse portfolio of non-operated producing oil and gas assets in Australia, Indonesia and New Zealand Sustainable, high margin oil and $49.7 million Revenue gas production(1) 631 mboe annual production >100% Reserve replacement Strong fr
Slide 5: FY2024 Financial Highlights
Operational and Financial Performance: FY2024 Financial Highlights Continuing to Demonstrate Strong Financial Performance and Cashflow Revenue Net Profit After Tax EBITDAX $49.7 $14.2 million $32.8 million million Indonesia $28.2m Australia $11.3m Net Cash (1) Production New Zealand $10.1m 631mboe $
Slide 6: Unlocking Shareholder Value Through Dividend Policy
Unlocking Shareholder Value Through Dividend Policy Dividends Paid on the Back of Continued Strong Operational and Financial Performance 0.12 1c Final Dividend 6,000,000 Market Capitalisation (18/10/24) $69.8 million Declared 23 August 2024 0.11 Share price (18/10/24) $0.10 5,000,000 50% Echelon Res
Slide 7: Diverse Portfolio of Production Assets
Diverse Portfolio of Production Assets Generating Strong Free Cash Flow from Four Key Production Assets Mahato PSC Jakarta Interest 11.25%* Office Mereenie/Palm Onshore oil production Valley/Dingo Interest 7.5 – 15% Onshore gas and oil production Maari Sampang PSC Interest 5% Interest 15% Offshore o
Slide 8: Profitable Asset Base Positioned for Continued Growth
Profitable Asset Base Positioned for Continued Growth FY2024 Continued to Showcase Ongoing Strong Operational and Financial Performance Annual Operating Revenue FY 2024 Revenue and Gross Margin A$ million A$ million 25 80% 60 70% 50 20 60% 40 50% 15 30 40% 10 30% 20 20% 5 10 10% 0 0 0% Jun-21 Jun-22
Slide 9: Strong Free Cash Generation
Strong Free Cash Generation Supports payment of Dividend while reinvesting to maintain production FY 2024 Cashflow $ million 19 11 57 0 8 4 27 14 0 15.2 16.3 Opening Cash 1 Receipts from Payments to Taxes, Royalties Exploration Net Cash from Net Cash used in Loan repayment Dividends FX Closing Cash
Slide 10: Asset and Commodity Diversity
Asset and Commodity Diversity Consistent production with exposure from a portfolio of Assets FY2024 Revenue by Country Net Production Australia 700,000 Barrels of oil equivalent 23% 600,000 Indonesia $49.7m 57% New Zealand 500,000 20% 400,000 FY2024 Revenue 300,000 by Product 200,000 Gas 38% 100,000
Slide 11: 112% 2P Reserves Replacement Ratio
112% 2P Reserves Replacement Ratio Underpins sustainability of production and financial performance Cue Reserves and Resources FY24 million barrels of oil equivalent (mmboe) 4.8mmboe 2C Contingent resource 112% FY24 Reserves Replacement ratio 1)The reserves and resources included in this graphic are
Slide 12: Mahato PSC: Indonesia
Mahato PSC: Indonesia Exposure to Brent Oil Prices with Low-Cost Oil Development Location: Central Sumatra Basin Cue Interest: 11.25%* FY2024 Cue Revenue: $19.7 million (5% YoY) Field Production: >6000 bopd (100%) Product Sales: Oil export at Brent based pricing (USD) Outlook • 22 production wells h
Slide 13: Sampang PSC: Indonesia
Sampang PSC: Indonesia Gas Production with Development Upside Powering East Java Location: Offshore East Java Cue Interest: 15% FY2024 Cue Revenue: $8.5 million Field Production: ~19 mmcfd (100%) average for FY2024 Product Sales: Long term gas contract (USD) Outlook • The Oyong and Wortel fields con
Slide 14: Australian Onshore Gas
Australian Onshore Gas Mereenie, Palm Valley and Dingo Fields Supplying Natural Gas to the Northern Territory and Eastern Australia Location: Onshore Amadeus Basin, NT Cue Interest: Mereenie 7.5%, Palm Valley 15%, Dingo 15% FY2024 Cue Revenue: $11.3 million (+20% YoY) Field Production: ~37Tj/d (100%
Slide 15: Maari Oilfield: New Zealand
Maari Oilfield: New Zealand Focusing on Production Optimisation and Cost Reduction Location: Offshore Taranaki Basin Cue Interest: 5% FY2024 Cue Revenue: $10.1 million (6% increase YoY) Field Production: ~5000 bopd (100%) average for FY2024 Product Sales: Export sales at Brent + premium (USD) Outloo
Slide 16: Sustainability
Sustainability Working with Partners to Reduce Emissions and Support Local Communities 15 Investor Presentation | October 2024
Slide 17: Investment Recap: Strong Performance underpins Attractive Dividend
Investment Recap: Strong Performance underpins Attractive Dividend Portfolio of high performing assets supports attractive dividend and valuation Sustainable, high margin oil and gas production Attractive Dividend Policy Development Modest Strong free and Valuation cashflow Exploration Multiples gen
Slide 18: Cue Energy
Cue Energy 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 ASX:CUE
Slide 19: Appendix 1: Cue Reserves and Resources
Appendix 1: Cue Reserves and Resources 30 June 2024 Governance arrangements and internal controls Cue estimates and reports its petroleum reserves and resources in accordance with the definitions and guidelines of the Petroleum Resources Management System 2018 (SPE-PRMS), published by the Society of
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