Central Petroleum Limited · ASX:CTP
Central Petroleum — Corporate Update (May 2022)
16 slides from Central Petroleum's corporate update, May 16, 2022
Slide 1: Market Update
Market Update 16 May 2022 Central Petroleum Limited (ASX:CTP)
Slide 2: Recent Highlights
Recent Highlights Solid March Quarter Performance • Revenue up 11% • Average sales price up to $6.69 / GJe • Reserves upgrade Debt Refinance • 3 year extension • Same low interest rate • Ability to expand if needed Exploration drilling underway • Currently drilling at circa 1,700m • Working to mitig
Slide 3: Solid March Quarter Performance
Solid March Quarter Performance Sales volumes 1.23 PJe Quarterly Sales (PJe) 3.00 Up 3.8% Sales revenues $8.5m Up 11% 2.00 Realised sales prices $6.69/GJe Volume (PJe) Gas up 3.9% Oil up 37.3% Cash balance $18.9m Down from $23.6m (December 2021) 1.00 + $0.8m net cash flow from operations/corporate -
Slide 4: Reserves upgrade
Reserves upgrade Oil and Gas Reserves and Resources: CTP Share Increase in 2P reserves before production Disposal Production was a result of: Adjustment As at 1 July 2021 Reserves on • Strong performance at the Dingo field – category 30 June Completion to Other As at 2021 of Asset Sale 31 Dec 2021 A
Slide 5: Extension of debt facility
Extension of debt facility Existing facility New facility Expiry 30 September 2022 30 September 2025 Principal repayments $2.0m per quarter $1.125m per quarter Early termination fee Lesser of: Nil • 2.5% of prepayment; and • Interest on remaining term Debt facility: • Extended by three years to Sept
Slide 6: PV12 and Dingo-5 drilling update
PV12 and Dingo-5 drilling update • Currently drilling PV12 at circa 1,700m • Drilling program cost increase ($3.1m as at 30 April) – Broad based cost pressures, some one-off, others ongoing (e.g. fuel prices) – Contingency available within the existing budget – Cost increase can be covered under Cen
Slide 7: Continuing strong gas market
Continuing strong gas market • Actively marketing firm gas supply from 2023 • Term gas markets continue to be very strong, with Central accesses east- coast spot market existing contracts escalating by CPI • New transport arrangements allow access to east coast spot markets: Improves the opportuni
Slide 8: Three sub-salt exploration wells on-track for 2023
Three sub-salt exploration wells on-track for 2023 • Planning and approvals are underway for all three wells (Dukas, Mt Kitty, and Mahler) • On-track for drilling in 2023 • Expecting to drill Mahler in preference to Magee Peak will fund Central’s costs for two major exploration wells targeting sub-s
Slide 9: Range CSG pilot
Range CSG pilot Recent activity Two new step-out pilot wells (Range 9 and 10) Range-2 were drilled in February Net Coal 36m Confirmed thicker net coals within c.2km of Range-5 the initial pilot location Net Coal 32m New wells were completed with downhole pumps and extended production testing c
Slide 10: Near-term activity (CTP Share)
Near-term activity (CTP Share) Zevon seismic (100%) Palm Valley #12 drilling (50%) Subsalt Gas, helium and 61.5 PJ Gas target(1) hydrogen target Drilling in progress: 1H 2022 Seismic planned 2023 Farm-out candidate L6 Dingo Deep drilling (50%) Mamlambo drilling(100%) * 34.5 PJ Gas target(1) OL4/5 OL
Slide 11: Near-term growth activities
Near-term growth activities Q2 2022 Q3 2022 Q4 2022 CY 2023 PV12 Drilling Alternative P1 appraisal lateral Dingo-5 Drilling Completion of production well Mereenie development Production well #2 Drilling wells x 2* Range Extended testing Dukas* Planning, approvals, mobilisation Drilling 2023 Mt Kitty
Slide 12: Appendix: Reserves and Resources Information
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 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 14: 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 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 Contact and Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au www.centralpetroleum.com.au CENTRAL PETROLEUM LIMITED (ASX:CTP) 16