Slide 1: The Year That Was
For personal use only THE YEAR THAT WAS
Slide 2: History 2012-18 – Exploration & Drilling
HISTORY 2012-18 – EXPLORATION & DRILLING • In 2017 CTP was $30 million behind in its permit commitments, placing acreage retention in For personal use only jeopardy. • In 2013 announced the Santos and Total Farm-ins. • On Total acreage $47.5 million spent on exploration to date with 974km seismic an
Slide 3: The Story So Far
THE STORY SO FAR Preparatory work on Gas Acceleration Programme (“GAP”) aimed at a low-risk cost-effective drilling For personal use only programme with the objective of TRIPLING our potential sales gas available for the east coast. Oct March Aug April June Sept Nov 2013 2014 2014 2015 2015 2015 201
Slide 4: The Story So Far – Closing the GAP still to come
THE STORY SO FAR Closing the GAP still to come… For personal use only April June Aug Dec Jan April July Jan-Jun Dec 2016 2016 2016 2016 2017 2017 2017 2018 2018 ACCC Inquiry Gas Sale and Pre- COAG Commission Vertigan Macquarie EDL contract Update Drilling NGP Operational released purchase Vertigan r
Slide 5: Pipelines
PIPELINES • “Uncovered” pipelines reformed (i.e. unregulated). For personal use only • “Covered” pipelines to come (i.e. regulated and lightly regulated). • Day ahead auctions vital to the gas market given the volatility of electricity and gas markets. • If all reforms occur, it should cost Central
Slide 6: Drilling in This Fiscal Year
DRILLING IN THIS FISCAL YEAR • Well plans are well advanced. For personal use only • Drilling rig requirements have been determined. • Well permitting has started with DPIR. • Surface access initiated with flora and fauna inspections completed. 6
Slide 7: Annual Report Highlights
ANNUAL REPORT HIGHLIGHTS • Total sales revenue of $25 million reflects a 9% increase from 2016. The recent EDL For personal use only gas contract increases contracted annual gas volumes by roughly 45%. • Net Sales Volumes – Oil (barrels) 111,380 (2016: 98,635 barrels) – Natural Gas (TJs) 3,322 (2016
Slide 8: Annual Report Highlights (continued)
ANNUAL REPORT HIGHLIGHTS (continued) • FY2018 will be the first year in which the Company is able to forecast positive cash For personal use only flows such that the capital raising can be dedicated to drilling. • Cash Reserves at 30 June 2017 of $5.48 million (2016: $15.1 million). 8
Slide 9: New Directors
NEW DIRECTORS • The process of selecting the new directors to augment the Board is nearing For personal use only completion. • Aiming to announce in time for AGM to ratify appointments. • Succession planning being completed as promised. 9
Slide 10: Operating Activities
OPERATING ACTIVITIES • The Company’s safety and environmental performance has again been noteworthy For personal use only without incurring either a Lost Time Incident or Reportable Environmental Incident. • Testing of the Stairway Sandstone at Mereenie from the previously drilled West Mereenie-15 c
Slide 11: Mereenie Development
MEREENIE DEVELOPMENT • Joint Marketing for Mereenie announced. For personal use only • Interim ACCC approval being sought. • Mereenie Joint Venture harmonious and united in its purpose to deliver more gas into east coast shortage when NGP completed. 11
Slide 12: Notice and Legal Disclaimer
NOTICE AND LEGAL DISCLAIMER To the maximum extent permitted by law: For personal use only 1. 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