Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — SEAPEX Farmout Forum 2019
14 slides from Cue Energy Resources's conference presentation, Apr 2, 2019
Slide 1: Mahakam Hilir PSC presentation
For personal use only ABN 45 066 383 971 Mahakam Hilir PSC presentation Melbourne, Australia 2 April 2019: Cue Energy Resources Limited (ASX:CUE) (CUE or Company) is pleased to provide the attached presentation on Mahakam Hilir PSC which is being presented by Matthew Boyall at the SEAPEX Farmout For
Slide 2: Mahakam Hilir PSC
CUE ENERGY RESOURCES LIMITED For personal use only Mahakam Hilir PSC Onshore East Kalimantan, Indonesia SEAPEX Farmout Forum April 2019
Slide 3: Disclaimer and Important Notice
Disclaimer and Important Notice This presentation is for the sole purpose of preliminary background information to enable recipients to review the Mahakam Hilir PSC farm-in opportunity. The material provided does not constitute an invitation, solicitation, recommendation or an offer to purchase or F
Slide 4: For personal use only
For personal use only Mahakam Hilir PSC • Located onshore Kutei Basin, a proven petroliferous region Tanjung Batu • Naga Utara prospect holds an estimate of up to 50 bcf Power Station (PLN) (1) prospective resource • Naga Utara-4 well is a low cost, drill ready appraisal opportunity NU-4 • Highly at
Slide 5: Location and Regional Setting
Location and Regional Setting Onshore within basin containing Giant Oil and Gas Fields For personal use only Badak 1.7B boe Mahakam • Kutei Basin location Delta Tunu 3.6B boe • Samarinda area shows major anticlinal ridges • Large to giant hydrocarbon fields occur within this fold belt Sanga Sanga 6.
Slide 6: Gravity Gradiometry and PSDM processing
Gravity Gradiometry and PSDM processing Increased understanding of Sambutan graben structure For personal use only Gravity/Gradiometry • Gravity/Gradiometry revealed a new graben system not seen on poor quality existing seismic or recognisable from surface modelling • Modelling shows that the Sambut
Slide 7: Pelarang anticline structural setting
Pelarang anticline structural setting Sang Sanga analog with greater compression • The Pelarang anticline is located 10km west of Sanga Sanga anticline (6.4 Tcf For personal use only produced) • Naga Utara prospect is within the same structural setting as the proven Sambutan gas field • Deltaic rese
Slide 8: Naga Utara Prospect
Naga Utara Prospect Primary Target For personal use only • Proven, good quality deltaic sands <3000ft • Normally pressured reservoirs • 4-5sq km closure in separate fault blocks • Tested within permit by Sambutan 8 and Naga Utara 1 and 2 wells • Prospective recoverable resource(2) estimates: Low Est
Slide 9: Existing well logs show tested and untested gas reservoirs
Existing well logs show tested and untested gas reservoirs • Sambutan-7 tested flow rates of 11mmcfd from 5 zones For personal use only • Sambutan-8, to be twinned by NU-4 appraisal, log analysis shows potential 100m gross interval gas pay. Non tested due to lack of gas interest in the 1930s • Petro
Slide 10: Naga Utara-4 Appraisal Well
Naga Utara-4 Appraisal Well US$2m well with 50% CoS Chance of presence • Twinning of Sambutan-8 well which showed For personal use only Source 90% 100m of interpreted logged gas pay Reservoir 90% • 3000ft planned TD Trap 60% • Top delta sediment, normally pressured NU-4 Chance of ~50% drilling Succe
Slide 11: Direct Access to Infrastructure and Market
Direct Access to Infrastructure and Market Underutilised gas plant and powergen demand • Sambutan gas plant (Pertamina) 500m • Tanjung Batu power plant (PLN) – 98.5 For personal use only from NU-4 well location MW gas and diesel, currently using • Currently underutilised at <1mmcfd with diesel capac
Slide 12: Phased Commercialisation Strategy
Phased Commercialisation Strategy Attractive economics and early cash generation fund ongoing low risk exploration Phase 1 – Drill Naga Utara-4 appraisal well For personal use only • US$2m DHC + test and complete $1m • 5-10 bcf estimated recoverable • Low cost infrastructure connection • Single well
Slide 13: Permit follow up
Permit follow up • Pelarang anticline Flank play For personal use only – Proven petroliferous anticline – Expect trapped Hydrocarbons on flanks – Can be exploited by integrating gravity/gradiometry, seismic data, well data, surface mapping and structural modelling – Multiple well opportunities • Put
Slide 14: Investment Opportunity
Investment Opportunity Low cost gas appraisal with rapid commercialisation • Mahakam Hilir PSC contains the Pelarang anticline, 10km from Sanga Sanga field in For personal use only the proven Kutei basin • Naga Utara-4 appraisal well is drill ready with a 50% CoS – Adjacent to Sambutan producing gas