Carnarvon Energy Limited · ASX:CVN

Carnarvon Energy — Carnarvon Petroleum — Investor Presentation (September 2021)

14 slides from Carnarvon Energy's investor presentation, Sep 8, 2021

  1. Slide 1: Good Oil Presentation

    onal use only CARNARVON PETROLEUM LTD GOOD OIL PRESENTATION

  2. Slide 2: Disclaimer

    CARNARVON Disclaimer peTOL EUM LTD The resource estimates outlined in this Presentation are based on and fairly represent information and supporting documentation prepared by the Company's Chief Operating Officer, Mr Philip Huizenga, who is. @ full-time employee of the Company. Mr Huizenga has over

  3. Slide 3: Snapshot

    Snapshot g )Buffalo re-development JApus - 1 well yy dout exploration Renewable diesel CARNARVON PETROLEUM LTD Eagle Project ‘AC/PE3 100% Buffalo Project Buffalo-PSC 100% a Condor Project AC/P62 100% sey Taurus Project WA-523-P 100% Phoenix Project WA-435-P 20% WA-436-P 30% © Katherine WA-437-P 20%

  4. Slide 4: Buffalo / Dorado development status

    For personal use only Status ▪ Project Entered FEED in June 2021 ▪ Final Investment Decision in mid calendar 2022 Major Contract ▪ Well Head Platform (WHP) awarded to Sapura Awards ▪ FPSO awarded to Altera (formerly Teekay) Production Rate ▪ The design is targeting 75,000 - 100,000 bopd Premium Prod

  5. Slide 5: Buffalo-10 well and development options

    For personal use only Buffalo-10 well ▪ Drill a ~30 day well up-dip of previously drilled wells ▪ Suspend the well as a future production well Resource ▪ 1C Resource: 15.3 million barrels ▪ 2C Resource: 31.1 million barrels ▪ 3C Resource: 47.8 million barrels ▪ The resource estimates will be re-eval

  6. Slide 6: Buffalo - well objective

    ° ° CARNARVON Buffalo - 10 well objective PETROLEUM LTD Drilling expected to start in 7-9 weeks Buffalo field schematic diagram (not to scale) Buffalo-7 4 production well Propose (2002) Buffalo-10 (Nov 2021) known oil column Cc Legend A= Estimated oil-water contact (last production was in 2004) B =

  7. Slide 7: Pavo-1 well

    Location, WD ▪ WA-438-P (Santos 70%, Carnarvon 30%) For personal use only ▪ 42km east of Dorado, 88m water depth Rig, Total Depth ▪ Noble ‘Tom Prosser’ jack-up ▪ 4,300m to top of Caley Member Trap ▪ Archer Fm. closure & channel truncation plays Target ▪ Caley Member sands under Hove Seal ▪ May also

  8. Slide 8: Apus-1 well

    For personal use only Location, WD ▪ WA-437-P (Santos 80%, Carnarvon 20%) ▪ 31km southeast of Dorado, 84m water depth Rig, Total Depth ▪ Noble ‘Tom Prosser’ jack-up ▪ 3,150m to top of Caley Member Trap ▪ Stacked Archer Fm. closure/channel truncation plays Targets ▪ Caley & Milne Member sands under H

  9. Slide 9: Bedout exploration fairways and prospects

    • Over 90 undrilled prospects in Carnarvon Bedout Permits For personal use only • Over 30 Caley prospects Keraudren Extension 3D • 60 prospects in other plays Archer 3D • A further 30-40 leads WA-436-P • Gas and Liquids (CVN 30%) • Dorado & Roc are central – combination of gas and liquids • Gas more

  10. Slide 10: Renewable Diesel

    ° CARNARVON Renewable Diesel PETROLEUM LTC FutureEnergy Australia (FEA) is Carnarvon’s biorefinery joint venture with Frontier Impact Group which is developing a biorefining business in Western Australia oA & a & Renewable diesel Complements our Strengthens Carnarvon's Business has Carbon sequestrat

  11. Slide 11: What is Renewable Diesel

    What is Renewable Diesel Renewable diesel is NOT Biodiesel, it is a “drop- in” replacement for conventional diesel fuel End-use Feedstock Typical vehicle modification requirements GHG emissions profile* “over the product lifecycle RENEWABLE DIESEL BIODIESEL Replacement for conventional diesel Waste

  12. Slide 12: CVN: stacked with near term catalysts

    CVN: stacked with near term catalysts CARN Dasa Buffalo - 10 Core Dorado Value

  13. Slide 13: For personal use only

    For personal use only Oil & Condensate Natural Gas Barrels of Oil Equivalent1 86 162 285 367 748 1,358 176 344 614 12 20 35 205 332 580 48 78 137 98 182 320 572 1,080 1,938 224 422 751 Oil & Condensate Natural Gas Barrels of Oil Equivalent1 17 32 57 73 150 272 35 69 123 2 4 7 41 66 116 10 16 27 20 3

  14. Slide 14: Bedout Basin Selected Prospective Resources

    e e CARNARVON Bedout Basin Selected Prospective Resources PETROLEUM [TD Prospective Resources (100% basis) Light Oil Natural Gas Barrels of Oil Equivalent Pg MMbbI BCF MMboe % P90 P50 Mean P10 P90 PSO Mean P10 P90 P50 Mean P10 Pavo 11 63 82 179 3 31 108 249 11 68 101 223 34% Apus 26 160 235 537 30 2

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