Central Petroleum Limited · ASX:CTP
Central Petroleum — H1 FY2021 Earnings Presentation
17 slides from Central Petroleum's earnings presentation, Feb 26, 2021
Slide 1: Half Year Update
For personal use only Half Year Update 26 February 2021 Central Petroleum Limited (ASX:CTP)
Slide 2: Half Year Highlights
Half Year Highlights For personal use only Quality assets have sustained Central through the turbulence of 2020 • Core assets provide positive cash flows despite Steady underlying sales difficult market conditions • $38.5M cash balance to fund Mereenie production Stronger cash position capacity incr
Slide 3: Half Year Results
Half Year Results For personal use only Solid performance – poised for growth • Steady v 5.19 PJE in June 2020 half Sales volume 5.11 PJE • Down 28% on December 2019 • Down 1% from $29.3M in June 2020 half Revenues $28.9M • 19% lower than December 2019 • Up 51% on June 2020 half1 EBITDAX $12.9M • Do
Slide 4: Stable Production – capacity boost planned
Stable Production – capacity boost planned For personal use only • CY2019 sales volumes hit a record average of 7.4 PJE / HY New wells in 1H CY2021 to restore production • COVID and market downturn FY 2019 FY 2020 impacts visible from 2H FY2020 COVID-19 market downturn Northern Gas • Anticipate a re
Slide 5: Solid 1H FY21 Results
Solid 1H FY21 Results Sales prices Operating costs $5.66 / GJE $2.78 / GJE For personal use only $5.27 in FY20 $2.70 in FY20 1H FY21 2H FY20 1H FY20 Key metric $M $M $M ➢ Markets are recovering ➢ Impacted by lower EBITDAX1 12.9 16.2 17.2 volumes vs fixed costs Underlying EBITDAX2 12.9 8.5 16.4 EBITD
Slide 6: 2021 Outlook
2021 Outlook For personal use only We are in a strong position to move forward with several important growth projects in 2021 • Two new production wells and four re-completions to Increasing production capacity increase Mereenie production capacity by mid-year • Three pilot wells to be drilled at th
Slide 7: Increasing production capacity
Increasing production capacity For personal use only Targeting Mereenie capacity of 45 TJ/day • Recompletion of four existing wells • Two new production wells • Targeting Pacoota-3 zone at crestal locations • Commencing in March / April ➢ Targeting return of Mereenie production to 45 TJ/d (currently
Slide 8: Range Coal Seam Gas Project
Range Coal Seam Gas Project For personal use only The Range CSG area contains 135 PJ of 2C Contingent Gas Resource (net to Central) • Joint venture with Incitec Pivot (50% interest) • Surrounded by major CSG developments and infrastructure • Potential to almost double Central’s 2P reserves base and
Slide 9: Range Pilot
Range Pilot For personal use only • Three wells to be drilled at 200m spacing • Expected to spud in April 2021 • To test production from all three Walloon coal sections: Upper Juandah, Lower Juandah and Taroom coals • To produce water to a tank and gas (flared) for three to six months CENTRAL PETROL
Slide 10: 2021 Exploration Program
2021 Exploration Program For personal use only Our most significant exploration program for years has the potential to unlock major new resources in the Amadeus Basin. Multi-well exploration program • Up to four new wells Could more than double Central’s • Targeting lower risk 593 PJ of gas and 29 m
Slide 11: The Next Growth Phase: Exploration Activity in 2021/2022
The Next Growth Phase: Exploration Activity in 2021/2022 Targeting lower risk 593 PJ of gas and For personal use only 29 mmbl of oil (subject to funding from farm-out process targeting execution in Q1 CY2021) A Palm Valley Deep (target 123 PJ) Testing deeper reservoir (proven at Dingo) in existing f
Slide 12: Other opportunities update
Other opportunities update For personal use only Farm-down of • Preferred bidder is conducting final due diligence producing assets • Targeting execution this quarter • Awaiting drilling proposal from operator (Santos) Dukas • Will shift sub-salt focus to the Zevon lead • Seeking third party produce
Slide 13: Positioned for a Busy 2021
Positioned for a Busy 2021 For personal use only Planned 2021 drilling reflects up to 43% of Central’s total drilling to date Mereenie ➢ 2 new production wells ➢ To deliver in excess of 20 PJ* over lifetime ➢ Targeting increase of Mereenie production towards 45 TJ/d Range ➢ 3 well CSG appraisal pilo
Slide 14: Notice and Legal Disclaimer
Notice and Legal Disclaimer For personal use only 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 (“
Slide 15: Company Snapshot
Company Snapshot Central is the largest on-shore gas producer in the For personal use only Northern Territory Brisbane head office / NT Operations * 92 employees 5.11 PJE of sales 1H FY2021 $28.9M sales revenue 1H FY2021 4 $5.4M maiden profit after tax in FY2020 $100M market cap Net debt2 Top10 1 $3
Slide 16: Appendix: Reserves and Resources information
Appendix: Reserves and Resources information For personal use only Resources Estimates Prospective Resources – Amadeus exploration targets The volumes of Prospective Resources included in this presentation represent the unrisked recoverable volumes derived from Monte Carlo probabilistic volumetric a
Slide 17: Contact and Further Information
For personal use only Level 7, 369 Ann Street Brisbane QLD 4000 Contact and Australia Further Information +61 (0)7 3181 3800 This ASX announcement was approved and authorised for release by Leon Devaney, Managing Director and Chief Executive Officer info@centralpetroleum.com.au Investor and Media In