Cue Energy Resources Limited · ASX:CUE
Cue Energy Resources — Excellence in Oil & Gas Conference 2013
19 slides from Cue Energy Resources's conference presentation, Mar 5, 2013
Slide 1: Excellence in Oil & Gas Investor Presentation
A.B.N. 45 066 383 971 5 March 2013 For personal use only PAGES (including this page):19 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
Slide 2: Cue Energy Resources Limited Investor Presentation
For personal use only CUE ENERGY RESOURCES LIMITED INVESTOR PRESENTATION ANDREW A. YOUNG (Executive Director / Interim CEO) EXCELLENCE IN OIL & GAS CONFERENCE SYDNEY, 5 MARCH 2013
Slide 3: Contents; Disclaimer & Important Notice
For personal use only CONTENTS AT A GLANCE ……………………………………... 3 FINANCIAL SNAPSHOT………………………….. 4 STRATEGY…………………………………………. 5-6 BOARD AND MANAGEMENT……………………. 7 ASSET LOCATION MAP………………………….. 8 ASSET REVIEW…………………………………. 9 - 15 ACTIVITY TIMING……………………………….... 16 SUMMARY………………………………………….. 17 DISCLAIMER
Slide 4: At a Glance
AT A GLANCE COMPANY SNAPSHOT SHARE PRICE PERFORMANCE For personal use only Market Capitalisation @ A$0.13 A$91 million Inconclusive news 29 March 2011 on Mahakam Hilir CUE signs binding contract Ordinary Shares 698,119,720 for sale of ACRL7 1 February 2012 First gas from Albers sell down Wortel, Sam
Slide 5: Financial Snapshot – Strong Fundamentals
FINANCIAL SNAPSHOT – STRONG FUNDAMENTALS HALF-YEAR 2013 RESULTS – PROFIT OVERVIEW Half Year Performance For personal use only › Sales for last 6mths 0.52m BOE’s › Average oil price excess of A$108/Bbl › Significant increase in HY sales of 42% › BOE Production for HY increased 48% › Gross profit from
Slide 6: Cue Strategy
CUE STRATEGY For personal use only FOCUS ON EXISTING ASSETS • Maximise value of current development • Evaluate Contingent Resources • Move to Reserves • Monetise REVIEW EXPLORATION PORTFOLIO • Optimise • Take a meaningful working interest • Workup leads/plays/prospects • Efficiently Farm down EXPAND
Slide 7: Strategic Focus: Adding Reserves
STRATEGIC FOCUS : ADDING RESERVES OIL RESERVES AND RESOURCES GAS RESERVES AND RESOURCES For personal use only TOTAL: CONVERTING CUE’S RESOURCES TO RESERVES PRODUCTION FORECAST & POTENTIAL GROWTH Adding new exploration areas Exploration drilling Appraisal drilling Commercialisation of static resource
Slide 8: Board and Management
BOARD AND MANAGEMENT For personal use only Geoffrey King Andrew Young Non-Executive Chairman Executive Director / Interim CEO • 35+ years experience in oil & gas • 35+ years experience in oil & gas • Appointed to CUE Board in 11/2011 • Appointed to CUE Board in 11/2011 Andrew Knox Tim Dibb Chief Fin
Slide 9: Asset Location Map
ASSET LOCATION MAP INDONESIA INDONESIA For personal use only Offshore Madura Island Kutei Basin SAMPANG PSC MAHAKAM HILIR PSC NAGA UTARA JERUK CUE 40% PAPUA NEW CUE 8% GUINEA OYONG Other prospects PRL14 – BILIP, CUE 15% Cue 40% COBRA, IEHI CUE 10.9% WORTEL CUE 15% PRL9 - BARIKEWA CUE 14.9% NEW ZEALA
Slide 10: Portfolio - Existing Focus Areas
PORTFOLIO - EXISTING FOCUS AREAS Exploration Appraisal Development Production For personal use only WHIO MANAIA 2 MAARI GROWTH MAARI NEW PEP51313 ZEALAND PEP54865 MAARI SOUTH PEP51149 JERUK OYONG MAHAKAM HILIR INDONESIA EXPLORATION NAGA UTARA WORTEL BARIKEWA SE GOBE PNG BILIP/COBRA/IEHI SE GOBE (Gas
Slide 11: New Zealand - Taranaki Maari: Production & Expansion
NEW ZEALAND - Taranaki Maari: Production & Expansion CURRENT DEVELOPMENT PROJECTS WHIO EXPLORATION WELL (PEP 51313) PMP 38160 MAARI - MOKI RESERVOIR (OFFSHORE NEW ZEALAND) › Drilling late 2013 For personal use only Existing: 5 producers, 3 water injectors › Cue carried through drilling by OMV PRODUC
Slide 12: New Zealand - Taranaki: Exploration
NEW ZEALAND - Taranaki: Exploration PEP 54865 PEP 51313 For personal use only (OFFSHORE NEW ZEALAND) (OFFSHORE NEW ZEALAND) EXPLORATION EXPLORATION CUE 20% Todd 80% (Op) CUE 14% Todd 35% OMV 30% (Op) Horizon 21% Seismic section showing Pukeko and Te Whatu prospects in PEP 51313 Several prospects and
Slide 13: Indonesia - Sampang: Production & Appraisal
INDONESIA - Sampang: Production & Appraisal For personal use only SAMPANG PSC CUE 5% SPC 40% SANTOS 45% (Op) JERUK (appraisal) OYONG & WORTEL (production) › Jeruk Field discovered 2003, › Gross production from PSC: › Appraised by wells in 2004 and 2006 (Jeruk-2 & -3) › 85 MMscf/d and ~2,500 bopd › O
Slide 14: Indonesia - Mahakam Hilir: Appraisal & Exploration
INDONESIA - Mahakam Hilir: Appraisal & Exploration NAGA UTARA APPRAISAL For personal use only › Naga Utara is a high pressure gas and associated oil discovery › Second well planned for Q3 2013 - will appraise existing reservoirs and explore deeper targets › Plan of Development (POD) could follow in
Slide 15: PNG - Production, Appraisal & Exploration
PNG - Production, Appraisal & Exploration For personal use only PDL 3 CUE 5.569% OIL SEARCH 36.36% (Op) › Contains part of SE Gobe Unit (Cue interest 3.286%) › SE Gobe has produced over 42 MMbbl oil (gross) since 1998 › SE Gobe gas facilities already in place, with gas production expected into the P
Slide 16: Australia - Carnarvon: Exploration
AUSTRALIA - Carnarvon: Exploration WA-409-P …potential for large gas discoveries adjacent to existing LNG developments CUE 30% Exoil 30% APACHE 40% (Op) For personal use only › Currently in Year 5, renewal 1H 2014 › Major lead, Brigadier updip, Late Jurassic oil play with up to ~150 MMbls in place ›
Slide 17: Activity Timing - Exploration & Appraisal
ACTIVITY TIMING - Exploration & Appraisal 2013 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 For personal use only Permit Te Kiri TE KIRI PEP 51149 Renewal North 3D #3 NEW ZEALAND Te Whatu WHIO WELL Permit PEP 51313 3D Renewal PEP 54865 Aihe 3D PMP 38160 MANAIA-2 INDONESIA Mahakam NAGA NAGA Mahakam
Slide 18: Summary
SUMMARY For personal use only • Experienced Staff / Board • Existing oil & gas production and STRONG stable positive cash flow FUNDAMENTALS • Strong balance sheet, no debt • Clear & focussed Strategy • Naga Utara appraisal drilling Q3 2013 subject to final approvals • Significant prospect inventory
Slide 19: For personal use only
For personal use only Level 21, 114 William Street, Melbourne VICTORIA – AUSTRALIA 3000 P. (61) 3 9670 8668 F. (61) 3 9670 8661 E. mail@cuenrg.com.au W. www.cuenrg.com.au
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