Central Petroleum Limited · ASX:CTP
Central Petroleum — Queensland Investors Club (September 2021)
19 slides from Central Petroleum's conference presentation, Sep 14, 2021
Slide 1: Qld Investors Club
Qld Investors Club 14 September 2021 Central Petroleum Limited (ASX:CTP)
Slide 2: Gas supply shortfall looming
Gas supply shortfall looming CENTRAL PETROLEUM LIMITED (ASX:CTP) 2
Slide 3: The Amadeus Basin
The Amadeus Basin 30 years of proven commercial production 200 PJ of existing uncontracted 2P reserves Large underexplored basin (53 Tcf total resource*) Conventional gas focus, with large unconventional upside Potential for direct connection to Moomba (AMGP) * total Amadeus 2C resources and prospec
Slide 4: Production assets
Insert photo of Amadeus production equipment (ESS ?) Production assets Central’s exploration opportunities are underwritten by a portfolio of long-producing, cash-generating assets in the Amadeus Basin CENTRAL PETROLEUM LIMITED (ASX:CTP) 4
Slide 5: Proven production
Proven production • Operator for three producing oil and gas fields in Central Australia that are surrounded by Central’s basin- wide exploration portfolio • 25% interest in Mereenie, 50% interest in Palm Valley and Dingo(1) • Funded drilling program targeting an increase in total operated productio
Slide 6: Strong record of production growth
Strong record of production growth • Record annual sales volumes and revenues ($65m) in FY2020 (triple that of 2017) • Solid financial foundation that provides downside protection • Over 10 years of gas reserves at current production rates • Recent sale1 of 50% of producing assets to NZOG and Cue fo
Slide 7: Sell-down of producing assets to NZOG / Cue
Sell-down of producing assets to NZOG / Cue Allows Central to pursue multiple avenues for growth $85m consideration(1) for 50%, with an expected $35m - $40m profit(1), delivers a strong Value accretive signal for the underlying value and quality of Central’s Amadeus Basin Producing Assets Provides
Slide 8: Funding for accelerated growth
Funding for accelerated growth The $40 million free carry will fund Central’s share of circa $100m(1) of current and near-term development investment across the Amadeus Basin Producing Assets without any cash outlay from Central Identified activities include: Recently completed four well re-comple
Slide 9: Surat Basin CSG
Insert photo : aerial shot of Range pilot ? Surat Basin CSG Central’s Range CSG project in Queensland’s premier gas province is moving towards FID Range CSG Project • Joint venture with Incitec Pivot (50% interest) • Surat Basin - surrounded by major CSG developments and infrastructure • Potential t
Slide 10: Range CSG pilot commissioned
Range CSG pilot commissioned Potential to almost double Central’s 2P reserves base and annual sales volumes • Three well pilot drilled and commissioned in June quarter • Early gas breakthrough – producing 50,000 scfd by mid August • Lower-than-expected initial water rates requires an extended dewate
Slide 11: Amadeus Basin Exploration targets
Insert photo – landscape shot ? Amadeus Basin Exploration targets CENTRAL PETROLEUM LIMITED (ASX:CTP) 11
Slide 12: Significant exploration upside in next two years
Significant exploration upside in next two years Immediate targets drilling 2021 Targeting lower risk 192 PJ of gas (96 PJ net to Central)1 Palm Valley Deep (target 123 PJ) (61.5 PJ net to Central)1 A Testing deeper reservoir (proven at Dingo) in existing field Dingo Deep (target 69 PJ) (34.5 PJ net
Slide 13: Near term exploration program
Near term exploration program Our most significant exploration program for years has the potential to unlock major new resources in the Amadeus Basin. Two well exploration • Two new wells confirmed program – starting late 2021 Could more than • Targeting lower risk 96 PJ of gas(1) double Central’s o
Slide 14: Growth-focussed outlook
Growth-focussed outlook Several important growth projects are in progress • Two new Mereenie production wells and a Palm Valley production lateral targeting Increasing production capacity total operated production capacity increase from 44 TJ/d to 63 TJ/d TJ/d within next 9 months (from 14 TJ/d to 2
Slide 15: Unlocking value
Unlocking value Enterprise Value (A$m) eg Dukas (EP112) Range Corporate tax losses eg Orange-3, Mamlambo and Zevon (EP115) (135 PJ 2C (circa $30m)(2) and Mereenie Stairway (multi TCF targets) resource)(4) $170m $152 m Other Assets not included in the Sale Assets (3) (1)(2) Central's current Sale Ass
Slide 16: Company Snapshot
Company Snapshot Central operates the largest on-shore gas producing fields in the Northern Territory Brisbane head office / NT Operations * 90 employees 10.3 PJe of sales FY2021 $59.8M sales revenue FY2021 4 $5.4M maiden profit after tax in FY2020 Recently sold 50% operating assets for $85m $85M ma
Slide 17: Appendix 2: Reserves and Resources information
Appendix 2: Reserves and Resources information Oil and Gas Reserves and Resources Before After Reserves and contingent resources CTP Share transaction transaction Reserves and contingent resources for the Mereenie, Palm Valley and Dingo fields in this report are as at 30 June 2020 and were first rep
Slide 18: 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 19: Contact and Further Information
Level 7, 369 Ann Street Contact and Brisbane QLD 4000 Australia Further Information +61 (0)7 3181 3800 info@centralpetroleum.com.au Investor and Media Inquiries Greg Bourke: +61 0478 318 702 Sarah Morgan: +61 0421 664 969 info@centralpetroleum.com.au Level 7, 369 Ann Street www.centralpetroleum.com.
Central Petroleum — Queensland Investors Club (September 2021) on 6ix