Central Petroleum Limited · ASX:CTP
Central Petroleum — Q4 FY2020 Earnings Presentation
17 slides from Central Petroleum's earnings presentation, Aug 7, 2020
Slide 1: June 2020 Quarterly Update
For personal use only June 2020 Quarterly Update 7 August 2020 Central Petroleum Limited (ASX:CTP)
Slide 2: Highlights
Highlights For personal use only Record annual sales volumes and revenues despite challenging market conditions in 2H Quarterly results reflect depressed market conditions, but demonstrate the value of our long- term, firm gas supply contracts Central’s business is financially resilient and po
Slide 3: Sales volumes
Sales volumes For personal use only Record annual sales volume: 12.34 PJE, up 14% on FY2019 June quarter sales of 2.53 PJE, down 4.7% from March quarter Historically weak spot gas market conditions Lower customer nominations from Dingo field (covered by take-or-pay provisions) Gas balancing
Slide 4: Revenues
Revenues For personal use only Record annual sales revenues: $65 million, up 9.6% on FY2019 FY20 FY20 FY19 FY20 Product Unit Q3 Q4 Full year Full year Gas $’000 13,987 13,288 49,658 58,960 Crude and Condensate $’000 1,297 760 9,700 6,086 Total Sales Revenue $’000 15,284 14,048 59,358 65,046 Revenue
Slide 5: Strong FY2020 financial performance
Strong FY2020 financial performance For personal use only June FY2020 FY2019 Metric Unit Comment Qtr. Full year Full year Includes purchased gas sold. June quarter sales include minimal spot Sales volume PJE 2.5 12.3 10.8 sales and reflect firm contracted volumes. Includes revenue for pre-sale deliv
Slide 6: Reserves upgrade
Reserves upgrade For personal use only 16% increase in 2P reserves Oil and Gas Reserves and Resources Production CTP Share As at 1 July 2019 – Reserve 30 June 2019 30 June 2020 Upgrade As at 30 June 2020* (PJE) (PJE) (PJE) (PJE) Proved (1P) 124.1 (11.1) 14.7 127.7 Proved and probable (2P) 149.8 (11.
Slide 7: Growth activity update
Growth activity update For personal use only •Prioritising three high potential gas prospects for drilling, plus Stairway appraisal at Mereenie Exploration programme •Planning and approvals continue to be advanced •Drilling schedule (subject to funding) planning to start in 1H 2021 •Farm-out to be u
Slide 8: Amadeus exploration programme – priority targets
Amadeus exploration programme – priority targets For personal use only A Mereenie Stairway (2C 54 PJ) Reperforating and testing existing wells. Undeveloped section of Mereenie with the potential to convert existing 2C to 2P B Palm Valley Deep (target 123 PJ) Deeper reservoir (proven at Dingo), untes
Slide 9: Updated exploration and appraisal targets
Updated exploration and appraisal targets For personal use only Additional technical work has led to an Prospective Resource Consolidated mean recoverable1 increase in the overall potential volumes Previous2 Updated being targeted Lead / Prospect (PJ) (PJ) Reviewed mapping and depth conversion D
Slide 10: Prioritised exploration and appraisal
For personal use only Prioritised exploration and appraisal • All prioritised targets have been proven as hydrocarbon bearing based on previous exploration drilling • Ooraminna 2 is the closest offset well from Orange and flowed gas from the Pioneer Formation on test with good gas shows at the Areyo
Slide 11: Potential to more than double reserves base
Potential to more than double reserves base Potential volume additions from Amadeus Exploration and Appraisal Total 2P reserves + 2C 900 contingent resource + For personal use only unrisked prospective PJ 803 800 69 700 123 600 500 647 PJ 4 Notes: PJ 401 1. 2P gas reserves at 30 June 400 2020 2. Mer
Slide 12: EP115 Exploration potential
EP115 Exploration potential Central’s permits contain several sub-salt leads with multi-TCF potential For personal use only EP115 is an exploration permit held by Central (100%) located in the north- western section of the Amadeus Basin adjacent to the Mereenie oil and gas field The western sect
Slide 13: Growth activity update
Growth activity update For personal use only •Prioritising three high potential gas prospects for drilling, plus Stairway appraisal at Mereenie Exploration programme •Planning and approvals continue to be advanced •Drilling schedule (subject to funding) planning to start in 1H 2021 •Farm-out to be u
Slide 14: Key takeaways
Key takeaways For personal use only Priority has been weathering a severe market downturn while preserving shareholder value Quality producing assets and fixed term gas contracts providing Central with critical base cash-flow and financial flexibility Anticipated domestic market rebound from 2
Slide 15: Reserves and resources information
Reserves and resources information For personal use only Prospective Resources – Amadeus exploration targets Low Best High Mean Resources Estimates The volumes of Prospective Resources Estimate Estimate Estimate included in this presentation represent the Target Depth Permit Lead / Prospect Permit P
Slide 16: 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 17: Contact and Further Information
For personal use only Level 7, 369 Ann Street Brisbane QLD 4000 Australia Contact and Further +61 (0)7 3181 3800 Information This ASX announcement was approved and authorised for release by Leon Devaney, Managing Director info@centralpetroleum.com.au and Chief Executive Officer Investor and Media In