Central Petroleum Limited · ASX:CTP
Central Petroleum — Bell Potter Unearthed (February 2022)
21 slides from Central Petroleum's conference presentation, Feb 10, 2022
Slide 1: Bell Potter Unearthed
For personal use only Bell Potter Unearthed 10 February 2022 Central Petroleum Limited (ASX:CTP)
Slide 2: Company Snapshot
Company Snapshot For personal use only Central Petroleum Limited is an emerging oil and gas producer: • Largest onshore gas operator in the Northern Territory (NT) • Near-term in-field exploration commencing March • Queensland CSG project at appraisal stage * • Three sub-salt exploration wells commi
Slide 3: High Near-Term Growth Activity
High Near-Term Growth Activity For personal use only • $23.5M revenues in 1H FY22 Producing assets • 50% interest sold for circa $85m, completed 1 October • 74 PJe of 2P reserves(1) • Two-well exploration program to commence in March Active exploration drilling • Located within existing producing fi
Slide 4: Production assets
▪ Insert photo of Amadeus production equipment (ESS ?) For personal use only Production assets Established operating assets with fixed price, term offtake gas supply agreements CENTRAL PETROLEUM LIMITED (ASX:CTP) 4
Slide 5: Proven production
Proven production For personal use only Amadeus Basin Producing Assets (NT) ▪ Mereenie oil and gas field (25% interest) ▪ Palm Valley gas field (50% interest) ▪ Dingo gas field (50% interest) ▪ $7.7 million revenue Q2 FY2022 Partial sell-down of producing fields completed in October P Value accretiv
Slide 6: Amadeus Basin Exploration
▪ Insert photo – landscape shot ? Amadeus Basin For personal use only Exploration Targeting in-field and near-field opportunities CENTRAL PETROLEUM LIMITED (ASX:CTP) 6
Slide 7: In-field exploration – Palm Valley
Immediate in-field targets In-field exploration – Palm Valley For personal use only A Palm Valley Deep (target 123 PJ) (61.5 PJ net to Central)(1) Testing deeper reservoir (proven at Dingo) in existing field ▪ Targeting a mean recoverable volume(1) of 123 PJ in the deep Arumbera Sandstone (61.5 PJ n
Slide 8: In-field exploration - Dingo
Immediate in-field targets In-field exploration - Dingo For personal use only Dingo Deep (target 69 PJ) (34.5 PJ net to B Central)(1) Testing deeper reservoir in existing field (gas shows in formation at Ooraminna) ▪ Targeting a mean recoverable volume(1) of 69 PJ (34.5 PJ net to Central) ▪ Both for
Slide 9: Potential near-term targets
Potential near-term targets Immediate targets For personal use only Targeting lower risk 192 PJ of gas (96 PJ net to Central)(1) Palm Valley Deep (target 123 PJ) (61.5 PJ net to A Central)(1) Testing deeper reservoir (proven at Dingo) in existing field Dingo Deep (target 69 PJ) (34.5 PJ net to Centr
Slide 10: Amadeus Basin Exploration: Sub-salt targets, helium and hydrogen
Amadeus Basin For personal use only Exploration Sub-salt targets, helium and hydrogen New partner to stimulate exploration: three wells planned for 2023 CENTRAL PETROLEUM LIMITED (ASX:CTP) 10
Slide 11: Sub-salt farm-in stimulates major exploration
Sub-salt farm-in stimulates major exploration For personal use only The investment by Peak demonstrates the potential of Central’s sub-salt prospects, not just in relation to the potential for natural gas, but also high value helium and “gold” hydrogen. Transaction ➢ Peak will fund Central’s costs f
Slide 12: Sub-salt play targets (Helium)
Sub-salt play targets (Helium) The Peak farmin targets drilling at three significant sub-salt prospects in 2023 For personal use only Helium play map • Green areas have been identified as having the highest potential for helium being present in valid Basement and Heavitree closures • High helium con
Slide 13: Surat Basin CSG appraisal
Insert photo : aerial shot of Range pilot ? Surat Basin CSG For personal use only appraisal Central’s Range CSG project in Queensland’s premier gas province is moving towards FID CENTRAL PETROLEUM LIMITED (ASX:CTP) 13
Slide 14: Range CSG Pilot
Range CSG Pilot For personal use only Potential to almost triple Central’s 2P reserves base and annual sales volumes ▪ Joint venture with Incitec Pivot (50% interest) ▪ Surat Basin - 77km2 permit surrounded by major CSG developments and infrastructure ▪ Aiming to supply into east coast market’s fore
Slide 15: Uniquely positioned
For personal use only Uniquely positioned Add photo • Fast-growing oil & gas producer • Active drilling program – 7 exploration wells planned for 2022/23 • Near-field reserve growth potential • Extensive under-explored portfolio in proven basins • CSG project targeting FID • Strong, experienced mana
Slide 16: Strong market pricing continues
Strong market pricing continues For personal use only STTM Pricing in AU$/GJ LNG Netback Price in AU$/GJ 16 45 14 40 35 12 30 10 COVID 19 25 8 20 6 15 COVID 19 4 10 2 5 0 0 Jul 18 Jul 19 Jul 20 Jul 21 Oct 18 Oct 19 Oct 20 Oct 21 Apr 18 Apr 19 Apr 20 Apr 21 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22 Jul-18 J
Slide 17: Material exploration upside
Material exploration upside For personal use only Active projects targeting material increase in reserves within months + Other infield targets • Mereenie Stairway 27 PJ 2C contingent resource + Other near-field targets • Orange 401 PJ(1) • Mamlambo oil 18 mmbbl(1) + Sub-salt targets for helium and
Slide 18: Appendix: Reserves and Resources information
Appendix: Reserves and Resources information For personal use only Reserves and contingent resources Proved Proved & Contingent resources Central – existing fields Probable (CTP share) Units 1P 2P 2C Mereenie oil mmbbl 0.34 0.44 0.05 Mereenie gas PJ 30.55 41.84 45.60 Palm Valley PJ 10.74 12.21 6.84
Slide 19: Appendix: Reserves and Resources information
Appendix: Reserves and Resources information For personal use only Prospective Resources – Amadeus exploration targets (CTP Share) Mean Resources Estimates Low Best High The volumes of Prospective Resources included in this Lead / Target Permit Estimate P90 Estimate P50 Estimate P10 presentation rep
Slide 20: Notice and Legal Disclaimer
Notice and Legal Disclaimer For personal use only 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 (“
Slide 21: Contact and Further Information
For personal use only Level 7, 369 Ann Street Brisbane QLD 4000 Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au Investor and Media Inquiries Leon Devaney: +61 (0)7 3181 3800 Managing Director and CEO info@centralpetroleum.com.au www.centralpetroleum.com.au L
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