Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Investor Presentation (August 2023)
10 slides from Carnarvon Energy's investor presentation, Aug 17, 2023
Slide 1: Building on Dorado Success
For personal use only AUGUST 2023 BUILDING ON DORADO SUCCESS carnarvon.com.au
Slide 2: Disclaimer
DISCLAIMER For personal use only The resource estimates outlined in this presentation are based on and fairly represent information and supporting documentation prepared by Carnarvon’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the company. Mr Huizenga has over 25 ye
Slide 3: CPC Transaction Completed
CPC TRANSACTION COMPLETED CVN holds world class assets & significant financial firepower For personal use only 700 Substantial 5 upside in Bedout 600 exploration 4 Additional 10% held $A by CVN in Pavo etc World class million 500 development 3 CPC payment & projects in carry look- Dorado and 400 thr
Slide 4: Focus on Dorado Development
FOCUS ON DORADO DEVELOPMENT Australia’s largest oil production asset when online For personal use only Proposed phase 1 development Project milestones Field successfully appraised Declaration of Location approval received Engineering & design work for Phase 1 substantially complete Production Licenc
Slide 5: CVN Positioned to Fund Dorado
CVN POSITIONED TO FUND DORADO CPC divestment key to CVN’s financing plans for Dorado For personal use only CARNARVON HOLDS A$319 MILLION IN FINANCIAL LIQUIDITY PLUS DEBT CAPACITY FOR DORADO A$181 million in cash following CPC divestment* A$138 million (US$90 million) project funding carry from CPC d
Slide 6: Pavo Field Tie Back to Dorado
PAVO FIELD TIE BACK TO DORADO Further high value organic growth in CVN’s portfolio For personal use only Pavo to maintain high flow rates for extended periods through the Oil Rate (BOPD) Dorado facilities Dorado Phase 1 Oil Pavo North Pavo South Dorado WHP Dorado FPSO Pavo North field Pavo South und
Slide 7: Success in the Bedout Sub-basin
SUCCESS IN THE BEDOUT SUB-BASIN Started with CVN’s JV farm-out to Apache Corporation For personal use only 2012 Apache Corporation farm-out deal delivered play opening discoveries 2014 US$90M IN DORADO PROJECT Phoenix South-1 oil discovery FUNDING CARRY* Pavo 2016 Roc-1 gas US$146M IN & condensate d
Slide 8: Significant Exploration Upside
SIGNIFICANT EXPLORATION UPSIDE The Bedout has already delivered more than just Dorado For personal use only CVN permits & licences in the Bedout sub-basin Highlights The Dorado development will be an enabling facility for the development of nearby fields such as Pavo and future discoveries. CVN 10%
Slide 9: Upcoming Catalysts
UPCOMING CATALYSTS Sanctioning & financing Dorado plus exploration upside For personal use only DELIVERED 1 CPC COMPLETION AUGUST 2023 2 FEED & FID ▪ Work has been progressing around integrating the Pavo field into Dorado ▪ Economic conditions increasingly support FEED progression on Dorado that int
Slide 10: For personal use only
<< CARNARVON ENERGY LTD @ Level 2 76 Kings Park Road admin@cvn.com.au West Perth WA 6005 R. +618 9321 2665 @® wwwecarnarvon.com.au
Carnarvon Energy — Investor Presentation (August 2023) on 6ix