Central Petroleum Limited · ASX:CTP
Central Petroleum — Shareholder Meeting (November 2021)
20 slides from Central Petroleum's shareholder meeting presentation, Nov 10, 2021
Slide 1: Annual General Meeting
Annual General Meeting 10 November 2021 Central Petroleum Limited (ASX:CTP) * Note: subject to the Notice and Legal Disclaimer and Appendix: Reserves and Resources information provided in this document.
Slide 2: Strong operating performance
Strong operating performance • $60m revenue FY2021 • Solid HSE record • No lost production due to COVID • Local community support • Indigenous and local employment CENTRAL PETROLEUM LIMITED (ASX:CTP) 2
Slide 3: Mereenie development program
Mereenie development program ✓ 4 x recompletions ✓ 2 x new development wells ✓ Sustained gas flows from Stairway Sandstone CENTRAL PETROLEUM LIMITED (ASX:CTP) 3
Slide 4: Asset sale completed
Asset sale completed Allows Central to pursue multiple avenues for growth $85m consideration(1) for 50% interest in production assets, with an expected profit of circa P Value accretive $35m(1) delivering a strong signal for underlying value P Operatorship Central retains operatorship Provides $40m
Slide 5: Range CSG Pilot
Range CSG Pilot Potential to almost triple Central’s 2P reserves Carla Carla-1 Carla-4 base and annual sales volumes Top WCM 225m 263m Net Coal 32m 36m • Three well pilot drilled and commissioned in Range-2 June quarter Top WCM 48m Net Coal 36m Range-5 • Current interference testing indicates good T
Slide 6: Range CSG Pilot
Range CSG Pilot Potential to almost triple Central’s 2P reserves base and annual sales volumes • Two new pilot step-out wells to be drilled in the December Qtr • New wells will be spaced at a greater distance (circa 2km) • Intended to confirm thicker net coals away from the pilot location • Designed
Slide 7: Range CSG project
Range CSG project Potential to almost triple Central’s 2P reserves base and annual sales volumes • Continuing to progress key approvals and BOO tender process • Targeting a final investment decision (FID) in early 2023 • First gas anticipated 2 years after FID CENTRAL PETROLEUM LIMITED (ASX:CTP) 7
Slide 8: Amadeus Basin exploration
Amadeus Basin exploration Immediate targets Targeting lower risk 192 PJ of gas (96 PJ net to Central) Palm Valley Deep (target 123 PJ) (61.5 PJ net to Central) A Testing deeper reservoir (proven at Dingo) in existing field B Dingo Deep (target 69 PJ) (34.5 PJ net to Central)1 Testing deeper reservoi
Slide 9: Sub-salt exploration - Dukas
Sub-salt exploration - Dukas Dukas is a large sub-salt target with potential for multi-Tcf of natural gas and helium and hydrogen Dukas (EP112 – 45%) • Multi-Tcf sub-salt target • Dukas-1 detected very high pressures above the target • Progressing towards a re-drill by early 2023 • Central’s interes
Slide 10: Sub-salt exploration - Zevon
Sub-salt exploration - Zevon Zevon is a large sub-salt target with potential for multi-Tcf of natural gas and helium and hydrogen Zevon (EP115 - 100%) • Multi Tcf sub-salt target • Full seismic program planned for mid next year • Target drilling date in early 2023 • High potential for hydrocarbon ga
Slide 11: Sub-salt play map (Helium)
Sub-salt play map (Helium) Dukas and Zevon are two large sub-salt targets with potential for multi-Tcf of natural gas and helium and hydrogen • Helium play map: Green areas have been identified as having the highest potential for Helium being present in valid Basement and Heavitree closures • High h
Slide 12: Improved Balance Sheet
Improved Balance Sheet CENTRAL PETROLEUM LIMITED (ASX:CTP) 12
Slide 13: Amadeus Basin ESG advantages
Amadeus Basin ESG advantages ➢ Focus on producing gas as a low-carbon transition fuel ➢ Project in progress to reduce scope-1 emissions at Mereenie by 30% ➢ No fracking planned within naturally fractured conventional reservoirs ➢ Relatively low carbon intensity (minimal associated CO2) ➢ Smaller sur
Slide 14: Cost and logistical challenges
Cost and logistical challenges Increased environmental regulations COVID Supply chain disruptions Labour shortages Rising commodity prices ➢ Lead times: up to 18 months to get a well designed, approved and drilled CENTRAL PETROLEUM LIMITED (ASX:CTP) 14
Slide 15: Marketing Update
Marketing Update STTM Pricing in AU$/GJ LNG Netback Price in AU$/GJ 16 45 14 40 12 35 30 10 8 COVID 19 25 20 6 15 COVID 19 4 10 2 5 - 0 Jul 18 Jul 19 Jul 20 Jul 21 Apr 18 Oct 18 Apr 19 Oct 19 Apr 20 Oct 20 Apr 21 Oct 21 Jan 18 Jan 19 Jan 20 Jan 21 Jul-18 Jul-19 Jul-20 Jul-21 Apr-18 Oct-18 Apr-19 Oct
Slide 16: Diversified portfolio with multiple opportunities for growth
Diversified portfolio with multiple opportunities for growth Helium and hydrogen Multi-Tcf targets: potential Basin-wide Dukas and Zevon exploration Mereenie Stairway Near-field exploration Orange and Mamlambo Palm Valley and Dingo Lower-risk In-field exploration & appraisal Deep wells to start Jan
Slide 17: Questions and Answers
Questions and Answers
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: Appendix: Reserves and Resources information
Appendix: Reserves and Resources information Prospective Resources – Amadeus exploration targets (CTP Share) Mean Resources Estimates Low Best High The volumes of Prospective Resources included in this Lead / Target Permit Estimate P90 Estimate P50 Estimate P10 Permit presentation represent the unri
Slide 20: Contact and Further Information
Level 7, 369 Ann Street Brisbane QLD 4000 Contact and Australia Further Information +61 (0)7 3181 3800 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 Brisbane, Qld 4000, Australia info@centralpetroleum.co
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