Kupe Re-Contracting Opportunity
• Company Snapshot
CLEAR STRATEGY
Invest in high quality assets, low-cost operating model.
Focus on current production with attractive development opportunities.
Near-field, lower-risk exploration provides upside.
Non-operated positions in quality assets.
Globally connected cornerstone shareholder.
ACTIVE IN STABLE REGIONS
Listed on both ASX and NZX.
Established in 1981, headquartered in Wellington, New Zealand.
Low risk regional exposure to healthy oil and gas markets.
4% interest in Kupe and 50.04% interest in ASX-listed Cue Energy.
Acquired a material interest in the Amadeus gas fields in 2021.
Focused on growing in Australia.
GROWTH FOCUS
Transformative acquisition led to near 5x increase in 2P reserves in 2021.
Amadeus assets provide direct link to East Coast Australia gas market.
Amadeus development campaign ongoing.
Exploration drilling aimed at approximately doubling Amadeus reserves.
Kupe development well will bring gas into a healthy NZ gas market.*
Cue assets adding significant reserves and value.
*Subject to final investment decision
STRONG FUNDAMENTALS
Share Price (based on closing price on 12 April 2022]
Market cap (based on closing price on 12 April 2022)
Debt
Consolidated cash balance (31 Dec 21)
2P reserves
2P reserves + 2C + 2U upside potential
51 cents per share
$83.9 million
Nil
$33.4 million
18.0 mmboe**
38.0 mmboe**
**Reserves are as at 1 Jan 2022.
See Reserves Statement in Appendix.
mmboe million barrels of oil equivalent
=
5
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