Central Petroleum Limited · ASX:CTP

Central Petroleum — Shareholder Meeting (November 2018)

17 slides from Central Petroleum's shareholder meeting presentation, Nov 14, 2018

  1. Slide 1: Company Presentation

    Company Presentation Annual General Meeting 14 November 2018 Central Petroleum Limited (ASX: CTP)

  2. Slide 2: Foundation for Growth

    Foundation for Growth CENTRAL PETROLEUM LIMITED (ASX: CTP) 2

  3. Slide 3: 2018 financial result

    2018 financial result Key drivers: 1. EDL gas contract (from June 2017) 2. Capital raisings and expenditures for Gas Acceleration Programme (GAP) Key Metrics Unit 2018 2017 Change* Net Sales Volumes: Natural Gas TJ 4,842 3,322 46% Oil BBL 105,619 111,380 (5%) Sales revenue $million 34.94 24.79 41% U

  4. Slide 4: Northern Gas Pipeline (NGP) – game changer

    Northern Gas Pipeline (NGP) – game changer  In 3 weeks our NT assets will be connected to the east coast market  Our gas-prone assets are will now be unconstrained by market  Scope to grow through NGP with ~20TJ/d still uncontracted, increasing to ~80TJ/d with compression CENTRAL PETROLEUM LIMITE

  5. Slide 5: Asset portfolio has never been stronger

    Asset portfolio has never been stronger Exploration portfolio Queensland CSG NT operating assets • Mostly gas prone and • Targeting 150-180PJ Mereenie (50%) significantly (100% of JV) • 22TJ/d gas production underexplored potentially recoverable capacity (Central • No longer gas market • Progressing

  6. Slide 6: Reserves upgrade supports further gas sales

    Reserves upgrade supports further gas sales 1P and 2P gas reserves (PJ) net to Central Palm Valley Dingo Mereenie Total  13 November announced a 65% 180 increase in 1P gas reserves (53PJ), 160 and 37% in 2P (46PJ) 140 46 120  Key drivers: additional production 53 data and access to market via NGP

  7. Slide 7: Gas acceleration program (GAP)

    Gas acceleration program (GAP) Gas Actual Sales / Forecast Capacity (TJpa) 16,000 14,000 Acquired Palm Acquired 50% NGP expected Valley and Dingo of Mereenie commencement 12,000 March 2014 September 2015 December 2018 10,000 GAP 8,000 New 6,000 GSA 4,000 2,000 * 12 months to December 2019 reflects f

  8. Slide 8: Growth Strategy

    Growth Strategy CENTRAL PETROLEUM LIMITED (ASX: CTP) 8

  9. Slide 9: Growth platforms

    Growth platforms Exploration Asset acquisitions Value add projects CENTRAL PETROLEUM LIMITED (ASX: CTP) 9

  10. Slide 10: Reinvigorate exploration to drive shareholder value

    Reinvigorate exploration to drive shareholder value  Market does not fully recognised the value of our exploration assets post NGP  We need to unlock this potential  Three key actions to accomplish this: 1. Explore the high-value exploration targets 2. Farm-out to accelerate and improve risk expo

  11. Slide 11: Asset Acquisition strategy (E&P assets)

    Asset Acquisition strategy (E&P assets)  Ideally positioned for future permit releases and new E&P asset transactions:  Australian small cap not conflicted by LNG  new east coast competitor  proven ability to explore and develop  track record as a safe and responsible operator  strengthened fi

  12. Slide 12: Value add projects

    Value add projects Opportunities for value add projects  Optimisation: expand existing reserves, brownfield economics, operating efficiencies and debottlenecking etc.  LPG production to access local high-margin LPG market  local oil refining to increase margins on oil and condensate  compressed

  13. Slide 13: Near-term share price growth catalysts

    Near-term share price growth catalysts CY 2018 CY 2019 Catalyst Q4 Q1 Q2 Q3 Q4  GAP completion  NGP opens (contracted gas sales nearly triple)  PV13 tie-in and production testing  New contracts for 2020 gas supply  Santos plans to drill Dukas in EP112  Progress high value exploration targets 

  14. Slide 14: Other key strategies

    Other key strategies  Ensure shares are not undervalued by the market: 1. Initiate analyst coverage 2. Focus on shareholder communication  Reduce our current level of debt (~50% D/EV): 1. Use CY2019 free cash flow to repay $22 million in debt (23% reduction) 2. Use new equity to fund growth  Refi

  15. Slide 15: Looking Ahead

    Looking Ahead  On the threshold of transformational growth with the NGP only 3 weeks away  We have never been better positioned to take advantage of opportunities and create significant shareholder wealth  Clear growth strategy to unlock value in our assets  Now is the time to make this Company

  16. Slide 16: Notice and Legal Disclaimer

    Notice and Legal Disclaimer To the maximum extent permitted by law: 1. 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 pre

  17. Slide 17: Contact and Further Information

    Level 7, 369 Ann Street Brisbane QLD 4000 Australia +61 (0)7 3181 3800 Contact and Further Information Investor and media enquiries: info@centralpetroleum.com.au Helen McCrombie at Citadel-MAGNUS T: +61 (0)2 8234 0103 M: +61 (0)411 756 248 www.centralpetroleum.com.au CENTRAL PETROLEUM LIMITED (ASX:

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