Central Petroleum Limited · ASX:CTP
Central Petroleum — Q3 FY2024 Earnings Presentation
16 slides from Central Petroleum's earnings presentation, Jun 14, 2024
Slide 1: FY24 3rd Quarter Results and Update
For personal use only FY24 3rd Quarter Results and Update 14 June 2024 Central Petroleum Limited (ASX:CTP)
Slide 2: Mixed quarter: Lower volumes, higher prices
Mixed quarter: Lower volumes, higher prices Sales revenue $8.2 m (Q3 FY2024) Sales volume 1.03 PJe (Q3 FY2024) • March quarter 1% lower than December quarter • March quarter down 13% from December For personal use only • Higher prices offset the lower volumes quarter • Impacted by suspension of Nort
Slide 3: Sales have recovered with new contract
Sales have recovered with new contract Selling 100% of production For personal use only since late April New NT New contract with Power & March quarter contract activated Water Corporation ➢ Supply up to 8.6 PJ of gas to the end of 2024 (Central share 2.1 PJ) ➢ “As-available” terms Reduced revenue d
Slide 4: Strong balance sheet
Strong balance sheet Strong position with flexibility for growth opportunities For personal use only Strong cash position (at 31 March 2024) Reduced debt • Cash balance $24.2m • Loan balance $24.6m • Available for exploration and • Net debt $0.4m development drilling Opportunity to restructure debt
Slide 5: NT gas market in transition
NT gas market in transition NT’s sources of gas supply is NT production required For personal use only changing to resume NGP exports ➢ Significant decline in off-shore gas supply since 2022 ➢ DLNG tail gas has significantly reduced since late April ➢ Mereenie is filling the DLNG shortfall and is no
Slide 6: NT gas market scenarios (near-term)
NT gas market scenarios (near-term) High NT production scenario Low NT production scenario For personal use only Off- Off- LNG Shore Shore NT NT Demand Demand 60 – 80 60 – 80 TJ/d TJ/d NGP Export NGP Rev Flow Amadeus Basin Amadeus Basin 6
Slide 7: Gas sale EOI process underway for Mereenie
Gas sale EOI process underway for Mereenie ➢ Mereenie Joint Venture offering up to 40 EOI Volumes TJ/d (10 TJ/d net to Central) for over 6 45 years to the end of 2030 For personal use only ➢ Daily volume up to around two-thirds of 40 current NT demand ➢ Bids due by 18 June 35 ➢ Reliable conventional
Slide 8: Sub-Salt farmout progress
Sub-Salt farmout progress For personal use only • Peak Helium has now been removed from the relevant joint ventures. • Farmout discussions are progressing, with the focus on drilling Mt Kitty first, followed by the Dukas prospect. • The EP125 permit (Mt Kitty) has been extended for 12 months (from 6
Slide 9: Helium Recovery Unit project
Helium Recovery Unit project For personal use only • The HRU project has been progressing very well. • The scope of the project now includes a helium liquefaction plant which adds to complexity. • Liquified helium, however, has much higher purity and therefore suitable for premium spec applications,
Slide 10: Other activity
Other activity(5) For personal use only Mereenie development wells New wells to increase gas Palm Valley development well production Mereenie Stairway (25%) New well to increase gas production 27 PJ Gas target(3) * L6 OL4/5 OL3 Mamlambo (100%) 18 mmbbl oil target(1) Mereenie Helium recovery unit L7
Slide 11: Key 2024 target milestones
Key 2024 target milestones For personal use only ➢ Major gas sale agreement(s) achieving EOI objectives ➢ FID for drilling new wells – Mereenie potentially commencing 2024 ➢ Complete Sub-Salt farmout – Mt Kitty potentially commencing 2024 ➢ FID for the Helium Recovery Unit ➢ Restructure and extend d
Slide 12: Appendix: Reserves and Resources Information
For personal use only Appendix 1 Reserves and Resources Information CENTRAL PETROLEUM LIMITED (ASX:CTP) 12
Slide 13: Appendix 1: Reserves and Resources information
Appendix 1: Reserves and Resources information Reserves and contingent resources Reserves Contingent Resources For personal use only Proved Proved & Best estimate Central – existing producing fields Probable (Central share) Units 1P 2P 2C Mereenie Oil mmbbl 0.34 0.38 0.05 Mereenie Gas PJ 28.7 37.5 4
Slide 14: Appendix 1: Resources information
Appendix 1: Resources information Prospective Resources Units Low Estimate Best Estimate High Estimate Mean Prospective Resources For personal use only Dukas (EP112) Central 45% interest* The volumes of Prospective Resources included in this report Helium Bcf 7.7 51.3 212.4 89.6 represent the unrisk
Slide 15: 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 16: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 For personal use only Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au This presentation was approved and authorised for www.centralpetroleum.com.au release to ASX by Leon Devaney, Managing Director and Chief Executiv