Central Petroleum Limited · ASX:CTP
Central Petroleum — Investor Presentation (July 2007)
27 slides from Central Petroleum's investor presentation, July 2007
Slide 1: Central Petroleum Limited
Central Petroleum Limited New ASX Listing 7th March 2006 Started 1998 with US$12/bbl oil prices Current capitalisation c.$37 million As at 240707 Aims to develop into Australia’s largest onshore petroleum company controlling a central Australian energy hub focussed on value adding before transport t
Slide 2: Disclaimer
DISCLAIMER The presentation has been summarised from various reports including a report entitled “Pre-feasibility Study for a 10,000 bbl/day FT GTL Plant in Central Australia, March 2006” by Holt Campbell and Payton, independent consultant costing engineers and contains their conclusions on the pote
Slide 3: Capital Structure Projected Aug 17th 2007
CAPITAL STRUCTURE PROJECTED AUG 17TH 2007 Ordinary 165,000,000 shares listed Ordinary 11,000,000 shares unlisted Total 176,000,000 Total Cap @ $35,000,000 Ordinary $0.20 shares Undiluted June 30th 2010 85,000,000 Total Cap @ 261,000,000 $52,000,000 $0.25 Options $0.20 fully Listed diluted listed opt
Slide 4: Experienced Board
Experienced Board • Dr Henry Askin Chairman – geophysicist ex SHELL Aust Expl Mngr, SHELL global seismic manager, Director BSOC • John Heugh MD – geologist WMC, Santos, Ampolex, Kufpec • Bill Dunmore – reservoir engineer/banker HBOS, Rothschilds, Dresdner Kleinwort, Unocal, BHP, GCA • Richard Faull
Slide 5: CTP Central Australia Interests
- ° -~\ CTP Central Australia Interests $ AL 2 we DARWI Se 55 Million Acres Pa ed _ aa fo 4 4 Basins * A 200 Prospects and Leads Neoproterozoic to Jurassic e 1 Well Average1.2 Mil. Acres ah Oil, Gas and Helium Targets EP(A) 92 EP(A) 129 GTL options with easy ee XK ara market access for value ce , ad
Slide 6: Permit Spread and Prospects
Permit-S To Danwin\ I « Lander Trough Georgina Basin 5 / =x fr un EP(A) 132 a Amadeus Basin NORTHERN oe TERRITORY gasfields “J SS Mereenie : Ooraminna 0.7TCFG P10 = an Ae bs jagee 60BCFG, 4BCF He P10] ||Perdika Basin prings : ~~ -— +s - Prospective CBM Resources SPA 704.5 bas 34-70 TCFG (EP93, 105,
Slide 7: Appraisal-discovery-early monetisation-value adding
Appraisal-discovery-early monetisation-value adding – OIL DISCOVERY AND DEVELOPMENT FOR EARLY CASH FLOW – 4 FARMIN PARTNERS TO PROVIDE 80%+ OF FUNDING, CTP RETAINS 50-60% AND OPERATORSHIP – CASHED UP WITH $15 MILLION CASH – DEVELOPMENT OF GAS AND HELIUM RESERVES CONVENTIONAL RESERVOIRS – DEVELOPMENT
Slide 8: Strategic Features
STRATEGIC FEATURES • Biggest acreage package in Australia 230,000 km 2 or 57 million acres • Large “company making” prospects and leads • Started 1998, oil was $12 USD/BBL, no competition • Dominant position in 3 whole basins-offering whole of basin farmins attractive to majors • Most under-explored
Slide 9: Amadeus Potential Recoverable
Amadeus Potential Recoverable* “Risked” 650 MMBOE yet to find-unrisked 5.8 Billion BOE or 35 TCFG NTGS August 2005
Slide 10: Numerous Targets - Amadeus
ES 112 MMBLS spolertial ce Company Permits ‘ Prospects W andleads Oil pipeline __—__ Gas pipeline _ Proposed gas pipeline _ t Railway _ _ __ Numerous = Mt Kitty 1. 7TCFG& 105 BCFG Helium pot. Magee 60 BCFG Helium potential 6% SO m=fe= Anticlinal leads » Fault, thrust fault Amadeus basin 10 0 10 20 3
Slide 11: Discovery in Amadeus compares favourably with other producing basins
Discovery in Amadeus compares favourably with other producing basins
Slide 12: Initial One Year Program: Big, shallow onshore targets
Initial One Year Program : Big, shallow onshore targets, oil, gas and Helium-over 200 leads and prospects available plus very large potential CBM Pedirka Basin Target Trough/Basin Size mmboe Size Predicted Phase m. to recoverable gas primary tcfge target Avalon Madigan/Pedirka 101 0.6 Oil/gas 2,200
Slide 13: Notional Estimate Discovery Impact Per Share
Notional Estimate Discovery Impact Per Share First 6 prioritised prospects upside P10 PROSPECT P10 recoverable A$milion Undiluted A$ Fully Diluted A$ Avalon 30 mmbbls 600 3.40 2.16 Blamore 55 mmbbls 1,100 6.30 3.90 Johnstone 112 mmbbls 2,240 12.80 7.80 Oooraminna 0.7 tcfg 700 4.00 2.50 Waterhouse 1.
Slide 14: Ooraminna Appraisal
Ooraminna Appraisal •P10 - 0.7 TCFG recoverable • 300 km2 • 60 km to Alice Springs
Slide 15: Waterhouse Appraisal
Waterhouse-ASTER image- gas seepage to surface Waterhouse Appraisal • 300 km2 • 1.0 TCFG P10 recoverable • 60 km to Alice Springs
Slide 16: Mt Kitty target horizon
Mt Kitty target horizon c. 430 km2 aerial closure, 1,000m max vertical closure preliminary mapping
Slide 17: Discovery in Amadeus compares favourably with other producing basins
Discovery in Amadeus compares favourably with other producing basins
Slide 18: Why GTL instead of sales gas in Central Australia?
WHY GTL INSTEAD OF SALES GAS IN CENTRAL AUSTRALIA ? • The area is remote from markets-both domestic and international • Low sales gas prices Australia A$3.50/gig • Gas transport costs via existing NT pipeline (APT) would be c. A$2.96-2.26/gj-mcfg (2006-11) so LNG production Darwin uncompetitive • Ga
Slide 19: Where is the gas for Central Petroleum's GTL plans coming from?
Where is the gas for Central Petroleum’s GTL plans coming from? Central Petroleum (Amadeus Basin only) acreage: • Mulready, Weste and Hamilton 2005: 10 TCFG (high) • Amadeus Basin yet to find NTGS 2005: 35 TCFG (high), risked historically c.4 tcfg • < 15% coverage with seismic to date • average 4 MM
Slide 20: FT GTL/CTL Roundup
FT GTL/CTL ROUNDUP • US Air Force targeting 50% synfuel use (domestic) by 2016 • Arrow Energy Feasibility Study on 20,000 bbl/day plant from CBM positive $10/day OPEX • Sasol-Chevron “Oryx” 100% project financed, 34,000 bbl/day plant ramping up to full production • Shell’s Qatar 140,000 bbl/day Qata
Slide 21: 10,000 bpd GTL Plant: US$ per Barrel GTL
Central 10,000 bpd GTL Plant Net Profit Before Tax (Feedstock Feedstock at A$1.25/gigajoule at A$1.25/GJ) from Amadeus Basin conventional reservoirs Break even at c.USD$35/bbl oil 80 Pre-Tax Profit 70 Natural Gas Feedstock Transport Plant to Port 60 O&M plus Insu. & O'hds US$ per Barrel GTL 50 Capit
Slide 22: 50,000 bpd GTL Plant: US$ per Barrel GTL
Central 50,000 bpd GTL Plant (Feedstock Feedstock at $1.25/gigajoule at A$1.25/GJ) Amadeus Basin - conventional reservoirs BREAK EVEN C. $30 usd/BBL Oil Price 80 Surplus after Production Costs 70 Natural Gas Feedstock Transport Plant to Port 60 O&M plus Insu. & O'hds Capital (10% RoI + 5% Depr) US$
Slide 23: 140,000 bpd GTL Plant: US$ per Barrel GTL
Central 140,000 bpd GTL Plant (Pedirka CBM Feedstock at A$2.20 /mscf) Break even at USD$30/bbl oil 80 Surplus after Production Costs 70 Coal Seam Gas Feedstock Transport Plant to Port 60 O&M plus Insu. & O'hds Capital (15% Cap Charge Rate) 50 US$ per Barrel GTL 40 Notes: 1 Feedstock 10 mscf per bbl
Slide 24: CBM & GTL Developments Pedirka Basin
CBM & GTL DEVELOPMENTS PEDIRKA BASIN • Prospective Resources (recoverable) CBM in Central’s 93,105,106,107, 130, 131, 93 and 77 permits low 34 TCFG high 70 TFG recoverable 1,250m cutoff • Based on 14 wells, 2,000 line km seismic analogies with similar coal, similar basins • Does not include Horn Val
Slide 25: Activity Planned
ACTIVITY PLANNED central petroleum LIMITED • June 30 2007 option conversion and placement raised $8.5 million net • July/Aug entitlement issue to raise $2 million net • c.$4.5 net of float plus raisings give Central a kitty of c.$15 million • New farmin partners PXA and Advent to fund up to 80/20 of
Slide 26: Central Petroleum plans growth with
central petroleum LIMITED plans growth with : 1. Farmin/JV partners-have 4 2. Discovery or appraisal success-6 wells by mid-late 2008 3. GTL and CBM development-longer term 4. Possible Reserve based asset acquisition
Slide 27: Central Petroleum Limited
Central Petroleum Limited Revitalising Australia’s Hydrocarbon Centre
Central Petroleum — Investor Presentation (July 2007) on 6ix