Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Shareholder Meeting (November 2012)
16 slides from Cue Energy Resources's shareholder meeting presentation, Nov 15, 2012
Slide 1: Annual General Meeting – Presentation
A.B.N. 45 066 383 971 15 November 2012 PAGES (including this page): 16 CUE ENERGY OVERVIEW Cue is an Australian based oil & gas Company Announcements Office company with projects in Australia, 10th Floor New Zealand, Indonesia and PNG. 20 Bond Street THE COMPANY HAS: Sydney NSW 2000 • Long life prod
Slide 2: Annual General Meeting
Annual General Meeting 15th November 2012 Cue Energy Resources Limited Level 21 114 William Street Melbourne Australia Tel +61 3 9670 8668 mail@cuenrg.com.au www.cuenrg.com.au
Slide 3: Disclaimer & Important Notice
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 important factors that could c
Slide 4: Cue Energy At A Glance
Cue Energy At A Glance … 2P/2C Oil & Gas Reserves / Resources Market Capitalisation @ A$0.135 A$94.3 Million Ordinary Shares 698,119,720 12 Month Trading Range 13 – 34c Average Daily Volume ~500,000 1.9 MMbbls (2P*) Maari (NZ) Cash at end 2012 A$38 Million 0.3 MMbbls (2P*) Oyong (Indonesia) Debt nil
Slide 5: Asset Location Map
OIL, GAS PRODUCTION Sampang PSC Oyong Wortel Cue 15% EXPLORATION WA-389-P Cue 35% EXPLORATION *WA-359-P. Cue 100% EXPLORATION WA-409-P Cue 30% EXPLORATION WA-360-P Cue 15% EXPLORATION WA-361-P Cue 15% EXPLORATION Mahakam Hilir PSC MALAYSIA ieee e INDONESIA AUSTRALIA CUE Head Office Melbourne, Victor
Slide 6: 2012 Financial Results
2012 Financial Results • 2012 Revenue down due to natural decline, production interruptions at Oyong to connect Wortel and downtime at Maari due to pump failures. Set to rise in FY 2013 due to full year of Wortel production and improved reliability at Maari. • Cash down at year end, but now rising a
Slide 7: Projects
PROJECTS
Slide 8: Production Assets
Production Assets • Maari Field, Offshore New • Maari commenced production in 2009 Zealand • Current production ~6,500 bopd Cue 5% • Phase 2 of development to extend field life beyond 2030 • JV has exercised the option to purchase the FPSO • Sampang PSC, Offshore • Oyong oil production commenced in
Slide 9: Appraisal Assets
Appraisal Assets • Sampang PSC, • Jeruk Field was discovered in 2003, appraised by Jeruk-2 and 3 wells in Offshore Madura 2004 and 2006 • Oil was recovered from several flow tests up to 7,488 bopd Island Indonesia • Jeruk oil discovery is currently being re-evaluated with current oil prices Cue 15%
Slide 10: Development Assets
Development Assets • Maari / Manaia Field, Phase 1 Development (Complete) Offshore New Zealand • Platform, FPSO, 7 production wells, 3 water injectors • First oil 1Q 2009, 20 million barrels produced Cue 5% • Current rate ~6,500 bopd. Cue share ~325 bopd • EUR 61.5 MMbbls Phase 2 Appraisal & Develop
Slide 11: Current Exploration Areas
Current Exploration Areas: ,
Slide 12: Indonesia - Kutei Basin (East Kalimantan)
Indonesia - Kutei Basin (East Kalimantan) …encouraging results in one of SE Asia’s most prolific basins
Slide 13: Australia - Carnarvon Basin
Australia - Carnarvon Basin …potential for large gas discoveries adjacent to existing LNG developments
Slide 14: New Zealand - Taranaki Basin
New Zealand - Taranaki Basin …near-term drilling activity next to an existing producing asset
Slide 15: Activity Timing
Activity Timing 2011 2012 2013 2014 CUE INDICATIVE TIME LINE 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q EXPLORATION SEISMIC NZ (3D Whio & Maari / Manaia) FIRM DRILLING Mahakam Hilir PSC Naga Utara Mahakam Hilir PSC Naga Selatan Sampang PSC Wortel Development (2) Sampang PSC Oyong Development (1) WA-389-
Slide 16: Summary
Summary: Strong Fundamentals • Experienced Staff • Existing oil and gas production and stable positive cash flow • Strong balance sheet, no debt Significant near term upside • Naga Utara appraisal drilling Q1 2013 subject to final approvals and rig contract • Significant prospect inventory in Austra
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