Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Investor Presentation (July 2011)
26 slides from Cue Energy Resources's investor presentation, Jul 1, 2011
Slide 1: ASX announcement fax cover sheet
Cue Energy Resources Limited A.B.N. 45 066 383 971 Level 21 For personal use only 114 William Street Melbourne Victoria 3000 Australia Telephone: (03) 9670 8668 Facsimile: (03) 9670 8661 Email: mail@cuenrg.com.au Website: www.cuenrg.com.au TO : Company Announcements Office 10th Floor 20 Bond Street
Slide 2: Investor Presentation 1st July 2011
For personal use only Investor Presentation 1st July 2011 ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTCQX: CUEYY Good to great!
Slide 3: Disclaimer & Important Notice
For personal use only DISCLAIMER & IMPORTANT NOTICE Various statements in this document constitute statements relating to intentions, future acts and events. Such statements are generally classified as forward looking statements and involve known risks, expectations, uncertainties and other importan
Slide 4: Cue Energy At A Glance
Cue Energy At A Glance … For personal use only Board Australian Registered established 1981 RICHARD TWEEDIE, LL.B Company Non-Executive Chairman Shareholders 5,326 Former MD Todd Energy NZ, LEON MUSCA, LL.B Listings ASX: Cue; POMSOX: Cue; Non-Executive Director, Lawyer ADR/OTCQX: CUEYY STEVEN KOROKN
Slide 5: From Good…
From Good… For personal use only Current Status 3-5 Year Vision • $188 million market capitalisation • >$1 billion market capitalisation @ $0.27/share @ over $1 / share • In the range 15th-20th largest E&P Consistently Out Perform • In the range 5th-10th largest E&P companies on the ASX companies on
Slide 6: Asset Location Map
Asset Location Map For personal use only EXPLORATION Mahakam Hilir PSC OIL PRODUCTION Cue 40% PDL3 Cue 5.568892% MALAYSIA (SE Gobe Unit 3.285651%) CONTINGENT GAS RESOURCE PNG PRL14 OIL, GAS PRODUCTION INDONESIA Cue 10.947% Sampang PSC Cue 15% CONTINGENT GAS RESOURCE PRL9 Cue 14.894% EXPLORATION WA-3
Slide 7: Hydrocarbon Inventory
Hydrocarbon Inventory For personal use only Oil Reserves Gas Reserves/ Resources TOTAL Oil : 3.35 mmbbls TOTAL Gas : 149 BCF (25 mmbbls BOE) 2.60 mmbbls (2P) Maari (NZ) 120 BCF (2C†) Barikewa (PNG) 0.31 mmbbls (2P) Manaia (NZ) 14 BCF (2P) Wortel (Indonesia 0.31 mmbbls (2P*) Oyong (Indonesia) 12 BCF
Slide 8: A balanced portfolio of existing assets
A balanced portfolio of existing assets For personal use only Exploration Appraisal Development Production Carnarvon Basin PNG LNG SCALE WA-389-P PRL 9 GAS • Caterina Barikewa WA-359-P & WA-409-P NZ: PEP 51313 • Matariki NZ: • Te Whatu Maari • Pike Indonesia Indonesia: OIL Jeruk Oyong Mahakim Hilir
Slide 9: Net 2P / 2C Indicative Production Forecast
Net 2P / 2C Indicative Production For personal use only Forecast 6500 6000 5500 5000 B Potential 4500 O Gas 4000 E 3500 P Potential Oil 3000 D 2500 2000 Calendar 2011 1500 • 420,000 barrels oil • 2.6 billion cubic ft gas 1000 500 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 SE GOBE OIL OYONG OIL M
Slide 10: Projects
For personal use only PROJECTS
Slide 11: Papua New Guinea
Papua New Guinea For personal use only Production South East Gobe Field Mt Hagen • Cue has ~3.3% unitised interest P’nyang Hides Goroka • ~ 80bopd to Cue Juha • Long term oil production Moran Agogo • SE Gobe Gas to be sold into PNG Kutubu LNG Gobe PDL3 SE Gobe PRL14 Kimu Barikewa PRL9 Elk/ Antelope
Slide 12: Indonesia
Indonesia For personal use only Kutei Basin Mahakam Hilir PSC (Cue 40%) • Farmin to Mahakam Hilir PSC. Singapore Petroleum operator. • Kutei Basin is a prolific basin. • Exploration permit with 2 exciting onshore oil Kutei Basin and gas prospects with drilling Q3 2011. • Prospects are along trend of
Slide 13: Sampang PSC – Indonesia
Sampang PSC – Indonesia For personal use only MADURA ISLAND LEGEND Cue Contract Gas Field Sampang Pamekasan Oil Field Herbras Kentang Persik Utara Prospect OYONG AREA 3 Surabaya AREA 1 WORTEL Gas Pipeline AREA 4 JERUK Pare AREA 2 Paus Ubur-Ubur Bakung Bengkoang JV Participants Participating Interest
Slide 14: Oyong + Wortel Development
Oyong + Wortel Development For personal use only 2011 Gross Production • 60MMscf/d • ~3000bopd H2 2011 Activity Gresik Wortel Development Sumenep • 2 wells, platform & pipeline Sampang • 1 infill oil well at Oyong Wortel Surabaya Wellhead 2012 Gross Production Platform 2011 Oyong OIL forecast DEVELO
Slide 15: Kutei Basin Farm-in June 2011
Kutei Basin Farm-in June 2011 For personal use only KEY BASIN STATISTICS Oil Recoverable 3755MMbbls Salamander Anadarko Gas Tanjung Sangatta Port Recoverable 67TCF Condensate Recoverable 991MMbbls Santos Bontang LNG plant Chevron Multinational and Independent companies having assets in the Union San
Slide 16: Mahakam Hilir PSC
Mahakam Hilir PSC For personal use only Oil and Gas Seeps KEY STATISTICS • 200 km of new seismic acquired by SPC • Historic seismic reprocessed • 2 prospects high-graded and ready for drilling • Drilling to commence H2 2011 JV Participants Participating Interest SingaporePetroleum 60% (Operator) 40%
Slide 17: New Zealand
New Zealand Maari Oil Field For personal use only Tui PMP38160 Kapuni Maui Maari -1 Moki -1 Oil producers Maari -2 Maari Well Kupe South Head Platform Maari Moki -2A Maari South Scale 20km Manaia -1 JV Participants Participating Interest Maui -4 OMV (Operator) 69% Todd 16% 0 5 km Horizon 10% Cue 5%
Slide 18: Maari Development
Maari Development For personal use only Phase 1 • Platform, FPSO, 7 oil wells, 3 water injectors • First oil 1Q 2009, 15.5 million barrels produced • Current rate ~ 15,000 bopd Cue share ~ 750 bopd • Moki 2P oil reserves ~ 52 million barrels Cue share ~ 2.6 million barrels • M2A 2P initial reserves
Slide 19: New Zealand Exploration
New Zealand Exploration For personal use only PEP 51313 - Matariki PEP 51149 – Te Kiri and Pungarehu JV Participants Participating Interest JV Participants Participating Interest Todd Exploration 40% (Operator) Todd Exploration 50% (Operator) Mighty River Power Gas Ltd 30% Horizon Oil (New Zealand)
Slide 20: Australia – Carnarvon Basin Permits
Australia Carnarvon Basin Permits For personal use only • 5 permits on trend with major discoveries and new developments LEGEND Oil Field Gas Field • Significant existing and planned LNG Cue Non-Operated Permit processing capacity in the region WA-389-P Caterina Prospect • WA-389-P - Woodside NEW ZE
Slide 21: WA-389-P: Prospects & Leads
WA-389-P: Prospects & Leads For personal use only WA-389-P Ezard • Farmout to Woodside Donovans • New Movida 3D seismic completed The Point • Existing 3D seismic reprocessing ongoing Caterina • Drill one well in 2012 Movida • 8 large prospects and leads • Cue retains 35% carried interest Rockpool In
Slide 22: Intra-Triassic Channel Play
Intra-Triassic Channel Play For personal use only LEGEND NW SHELF ANALOGUES PRODUCTION Intra Triassic Channels on Goodwyn Gas Field current 3D seismic Intra Triassic Channels 2D seismic Existing 3D seismic Gas Filled Channel Planned 3D seismic New Movida Cue Permit 3D seismic WA-389-P APPRAISAL Juli
Slide 23: Activity Timing
Activity Timing For personal use only 2011 2012 CUE INDICATIVE TIME LINE 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q EXPLORATION SEISMIC PEP51149 (2D) Pungarehu PEP51313 (3D and 2D) Matariki/ Te Whatu WA-389-P (3D) WA-359-P, 409-P (3D) DRILLING Mahakam Hilir PSC Naga Selatan Mahakam Hilir PSC Naga Utara Sampang PSC Wor
Slide 24: Net 2P / 2C Indicative Production Forecast
Net 2P / 2C Indicative Production For personal use only Forecast 6500 6000 5500 5000 B Potential 4500 O Gas 4000 E 3500 P Potential Oil 3000 D 2500 2000 Calendar 2011 1500 • 420,000 barrels oil • 2.6 billion cubic ft gas 1000 500 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 SE GOBE OIL OYONG OIL M
Slide 25: Why Invest in Cue
WHY INVEST IN CUE For personal use only Experienced & energetic board and management • A track record in successful company building • New management with engineering, field development and operational experience • Good regional network and proven business development record • Strong vision and driv
Slide 26: Cue Energy Resources Limited
For personal use only Cue Energy Resources Limited Level 21 114 William Street Melbourne Victoria 3000 www.cuenrg.com.au mail@cuenrg.com.au +61 3 9670 8668
Cue Energy Resources — Investor Presentation (July 2011) on 6ix