Central Petroleum Limited · ASX:CTP
Central Petroleum — H1 FY2022 Earnings Presentation
20 slides from Central Petroleum's earnings presentation, Mar 14, 2022
Slide 1: ASX Announcement and Media Release
ANNOUNCEMENT AND ASX ASX CODE: CTP MEDIA RELEASE 14 March 2022 HALF YEAR RESULTS AND ACTIVITY UPDATE PRESENTATION Central Petroleum Limited (“Company” or “Central”) is pleased to release the attached presentation which provides an overview of its December 2021 half year results and an update on acti
Slide 2: Legal disclaimer (announcement page 2)
ASX ANNOUNCEMENT AND MEDIA RELEASE – CENTRAL PETROLEUM LIMITED Page 2 statement in this document is valid only at the date of issue of this document. Subject to any continuing obligations under applicable law and the ASX Listing Rules, or any other Listing Rules or Financial Regulators’ rules, the C
Slide 3: Half Year Results – December 2021
Half Year Results – December 2021 14 March 2022 Central Petroleum Limited (ASX:CTP)
Slide 4: 1H FY2022 Highlights
1H FY2022 Highlights Completed sale of 50% of interests • Recognised $36.6 million book profit on sale in Amadeus Basin • NZOG / Cue are funding Central’s share of over $100 million in development and exploration in the permits • Reduced debt New gas sales agreement • Up to 3.15 PJ over 4 years from
Slide 5: 1H FY2022 Headline Results
1H FY2022 Headline Results • Down from 5.1 PJe in 1H FY2021 Sales volume 3.8 PJe • Reduced ownership interests from 1 October 2021 • New Mereenie production wells online • Down from $28.9M in 1H FY2021 Revenues $23.5M • Reduced ownership interests from 1 October 2021 • Higher realised oil prices • D
Slide 6: Solid Operational Performance
Solid Operational Performance Sales prices Six-monthly sales (PJe) $6.18 / GJe 6.0 $5.83 in FY2021 Operating costs $5.27 in 1H FY21 5.0 Strong gas pricing $3.03 / GJe dynamics $2.81 in FY2021 Higher oil prices $2.81 in 1H FY21 4.0 Includes transportation 3.0 Exploration costs for new sales con
Slide 7: Debt reduction
Debt reduction Debt balances • $32M of debt repaid in 1H FY022 (at 30 June each year) • Funded from proceeds of partial 90.0 asset sale 80.0 • $34.8M of debt outstanding at 31 70.0 December 60.0 $ Million • Facility matures 30 Sept 2022 50.0 40.0 • Extension discussions underway 30.0 20.0 • History
Slide 8: Amadeus Basin Exploration
Amadeus Basin Exploration Sub-salt targets: natural gas, helium and hydrogen CENTRAL PETROLEUM LIMITED (ASX:CTP) 6
Slide 9: Farm-in Stimulates Major Sub-Salt Exploration Program in 2023
Farm-in Stimulates Major Sub-Salt Exploration Program in 2023 The investment by Peak Helium demonstrates the potential of sub-salt prospects for natural gas, as well as high value helium and “gold” hydrogen. 2023 drilling program • Mt Kitty in EP125 • Magee/Mahler in EP82 • Dukas in EP112 Peak will
Slide 10: What is Sub-salt and why the excitement?
What is Sub-salt and why the excitement ? The term “sub-salt” is commonly applied to the geology below deposits of salt (evaporites) which can form a very effective trap for not only hydrocarbons, but very light gasses like helium and hydrogen that typically escape to the atmosphere. Some of the
Slide 11: Sub-Salt Targets (Helium Play Map)
Sub-Salt Targets (Helium Play Map) • Green areas have been identified as having the highest potential for helium being present in valid Basement and Heavitree Quartzite closures • High helium concentrations have already been measured at Magee and Mt Kitty Zevon Prospect Potential to fund through a M
Slide 12: Activity update
Insert photo : aerial shot of Range pilot ? Activity update CENTRAL PETROLEUM LIMITED (ASX:CTP) 10
Slide 13: Range CSG Pilot
Range CSG Pilot Step-out pilot operations Two new step-out pilot wells recently drilled Range-2 Confirmed thicker net coals within c.2km of Net Coal 36m the initial pilot location Range-5 Four original exploration wells averaged Net Coal 32m 32.9m of net coal Three initial pilot wells averag
Slide 14: Near-term Exploration Targets
Near-term Exploration Targets Committed exploration targets Drilling 1H 2022 Palm Valley Deep (target 123 PJ) (61.5 PJ net to Central)(1) A Testing deeper Arumbera Sandstone objective (proven at Dingo) below existing field Production lateral in producing Pacoota Sandstone fall-back Dingo Deep (targe
Slide 15: Strong East Coast Gas Market Fundamentals
Strong East Coast Gas Market Fundamentals Favourable market fundamentals support Central’s exploration and appraisal strategies ACCC forecast supply from 2P reserves and demand in the east coast, 2023-33 Potential initial period of supply constraints and price pressures Source: ACCC Gas inquiry 2017
Slide 16: Appendix – Reserves and Resources Information
Appendix 1 – Reserves and Resources Information CENTRAL PETROLEUM LIMITED (ASX:CTP) 14
Slide 17: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Reserves and contingent resources Reserves Contingent Resources Proved Proved & Proved, Probable Best estimate Central – existing fields Probable & Possible (Central share) Units 1P 2P 3P 2C Mereenie oil mmbbl 0.39 0.43 0.49 0.05 Mereenie gas PJ 31.5 40
Slide 18: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Prospective Resources – Amadeus exploration targets (Central Share) Low Estimate Best Estimate High Estimate Mean Resources Estimates Target Permit P90 P50 P10 The volumes of Prospective Resources Lead / Prospect Permit formation Interest Recoverable Re
Slide 19: Notice and Legal Disclaimer
Notice and Legal Disclaimer To the maximum extent permitted by law: This presentation is not intended for prospective investors and does not purport to provide all of the information an interested party may require in order to investigate the affairs of Central Petroleum Ltd (“Company”). This presen
Slide 20: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au www.centralpetroleum.com.au CENTRAL PETROLEUM LIMITED (ASX:CTP) 18