Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (May 2004)
21 slides from Cue Energy Resources's investor presentation, May 2004
Slide 1: Presentation May 2004
Cue Energy Resources Limited PRESENTATION May 2004
Slide 2: History
Cue Energy Resources Limited HISTORY 1981 Cue Energy formed & floated in New Zealand < Exploration in New Zealand & Australia > 1995 SE Gobe oil field acquisition - PNG Capital raising & listing in Australia 1997 New exploration areas – Indonesia 1998 SE Gobe oil production commences New exploration
Slide 3: Cue Energy Statistics
Cue Energy Resources Limited CUE ENERGY STATISTICS Shareholders 3,100 Listings Australia/NZ/PNG Ordinary Shares 333.9 Million Market Capitalisation @ A6.5 cents A$22 Million
Slide 4: Cue Hydrocarbon Inventory
Cue Energy Resources Limited CUE HYDROCARBON INVENTORY GAS RESOURCES 18 BCF (2P equivalent) 4 BCF 97 BCF Oyong Other Kimu (Indonesia) (PNG) (PNG) OIL RESOURCES 120 BCF Barikewa (PNG) 0.45 mmbls (2P) SE Gobe (PNG) 1.2 mmbls (2P equivalent) Oyong (Indonesia)
Slide 5: Directors & Executives
Cue Energy Resources Limited DIRECTORS & EXECUTIVES CHAIRMAN Richard Tweedie MD Todd Energy NZ DIRECTORS Geoffrey Albers Founder Ken Hoolihan Exploration Manager Todd Leon Musca Lawyer CHIEF EXECUTIVE OFFICER Bob Coppin 37 years experience CHIEF FINANCIAL OFFICER Andrew Knox 20 years experience
Slide 6: Corporate Plan
CORPORATE PLAN Cue Energy Resources Limited SHORT TERM • Existing Exploration & Production - PNG, Indonesia • Commercialise Current Assets - Oyong Oil & Gas Field MEDIUM TERM • Growth - Acquisitions - New Exploration Areas - Commercialise PNG Gas
Slide 7: Joint Venture Interests
Cue Energy Resources Limited PDL 3 SHP 40.149650% Orogen 20.5% Oil Search 15.859740% MALAYSIA *Santos 15.921718% Cue 5.568892% (SE Gobe Unit 3.285651%) PRG 2.0% PPL 190 * Santos 31.278% Oil Search 31.278% IRIAN JAYA Murray 26.497% INDONESIA Cue 10.947% PNG Gobe Development PORT MORESBY Sampang PSC P
Slide 8: Papua New Guinea
PAPUA NEW GUINEA Cue Energy Resources Limited • Population – 5.0 million • Parliamentary democracy – one house • Legal system based on English common law • Petroleum Legislation - stable - Petroleum licences - 50% tax rate existing areas - 30% tax rate new areas - 2% royalty - 22.5% government back
Slide 9: Papua New Guinea Location Map
PAPUA NEW GUINEA LOCATION MAP Cue Energy Resources Limited P'NYANG GAS FIELD PPL 213 HIDES GAS FIELD PPL 184 APPL PRL 228 3 PDL 1 GOBE & S.E. GOBE PPL 202 OIL FIELDS PRL 2 PRL4 PPL PDL 3 138 Goroka PPL PRL PPL199 157 5 PPL 218 PPL 190 PPL 219 PPL138 JUHA GAS FIELD PPL 219 KUTUBU PDL2 PDL4 OIL FIELDS
Slide 10: SE Gobe Area
PAPUA NEW GUINEA SE GOBE AREA Cue Energy Resources Limited MAKAS GOBE HEALY MAIN FIELD Gobe-2X PPL 190 PPL 190 Gobe-7X 50 - 130 SEG-9 SEG-1 million SEG-8 barrels PDL 4 SEG-2 PPL 219 SEG-3 SEG-10 PPL 206 S.E.GOBE FIELD Gobe-3X Saunders-1X SEG-7 SEG-6 SEG-5 Bilip-1 SAUNDERS GILLESPIE GOBE UNIT AREA FO
Slide 11: Sampang PSC – Location Map
SAMPANG PSC – LOCATION MAP Cue Energy Resources Limited 112°30’E 113°00’E 113°30’E KE Field Java Sea Arosbaya-1 Gunung Kembar-1 Tanjung-001 Bujur Tenjah-1 Sumberlantang-1 Bujur Tumur-1 Mandala-1 Soemerep-1 Durbuk-1 Prancak-1 7°00’S Amih Iancak-1 M a d u r a Sumenep Gunung Geger Outcrop Lerpak-1 Kona
Slide 12: Oyong Field Top Mundu Depth Structure
OYONG FIELD Top Mundu Depth Structure Cue Energy Resources Limited Source Santos Ltd
Slide 13: Oyong
OYONG Line 90MDR-204 Oyong -2 Cue Energy Resources Limited Oyong -1 S SP 450 400 350 300 250 N Lidah Fm 0.500 Paciran Fm 1.000 Mundu Fm Wonocolo Fm 1.500 Upper Ok Fm Top Ngrayong 2.000 Ngrayong Fluor 2.500 3.000 Source Santos Ltd
Slide 14: Oyong - Schematic Cross Section
Cue Energy Resources Limited OYONG - SCHEMATIC CROSS SECTION West East Oyong-1 & 2 Oyong-3 Mundu 120+ metres Reservoir GOC 902mss Gas OWC 940mss 38 metres Oil Non Reservoir Source Santos Ltd
Slide 15: Oyong Development Concept
Cue Energy Resources Limited OYONG DEVELOPMENT CONCEPT Source Santos Ltd
Slide 16: Oyong Project
OYONG PROJECT Cue Energy Resources Limited • DESCRIPTION – Manned Well Head Platform – 2 sub vertical gas wells – 3-7 horizontal oil wells – 60km, 14 inch multi phase pipeline, 60 mmsfd, 10,000 bblpd capacity – Onshore gas processing, oil stabilization, water separation – Gas to GRATI power station
Slide 17: Oyong Project
OYONG PROJECT Cue Energy Resources Limited Grati – 766MW Station - 463MW Combined Cycle - 303MW Turbine Source Santos Ltd
Slide 18: Oyong Development Status
Cue Energy Resources Limited OYONG DEVELOPMENT STATUS • Gas Sales Agreement signed • Front end engineering design completed • Plan of development submitted • Engineering, procurement, construction, installation bids received • Pipeline & platform surveys completed • Environmental studies completed •
Slide 19: Oyong Field Indicative Cue Discretionary Net Income
Cue Energy Resources Limited OYONG FIELD Indicative Cue Discretionary Net Income 10 9 8 7 6 5 4 3 2 9.81 7.79 2.98 6.35 4.16 2.7 2.28 1 1.49 0.86 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 127 BCF, 8.4mmbbls
Slide 20: Indicative 2004 Activity
Cue Energy Resources Limited INDICATIVE 2004 ACTIVITY • Approval of Oyong Development July • Commence of Oyong Development August • Seismic – Indonesia Second Half Year • Exploration Drilling - Indonesia Second Half Year • Seismic - PNG Second Half Year • New Exploration Areas Ongoing • Acquisitions
Slide 21: Why Invest in Cue
Cue Energy Resources Limited WHY INVEST IN CUE • Capital appreciation • Oil production • Oyong production pending • Exploration drilling • Quality exploration acreage • Project upside PNG Gas
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