Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Nov 2006farm in farm out agreement▲ GoodMajor
Central signed a non-binding MoU with He Nuclear for a helium-focused farm-out of Mt Kitty (EP 125) and Magee (EP 82). He Nuclear would fund 50% of seismic and a well on each to earn 25%. Mt Kitty's high case is 1.7 TCF gas with over 100 BCF helium. This is a first farm-out after White Sands fell through.
3 Nov 2006farm in farm out agreement▲ Good
Central says it has received a number of indicative offers and expressions of interest after the 31 October target, and is reviewing them. No binding agreement yet; further announcements will follow only if one is signed.
23 Aug 2006drilling progress report▼ Bad
The main delay is waiting for Central Land Council approval of an access route to Blamore and Avalon; the first well is planned 2–3 months after approval. Major oil companies are reviewing data under confidentiality, with no farm-in agreed.
19 July 2006drilling scheduled● Neutral
Central called tenders to drill Blamore #1, with possible further drilling September–December 2006, and is awaiting sacred site clearance of the access route. A $3.5 million Amadeus seismic programme is planned; farm-out talks continue.
5 June 2006drilling progress report● Neutral
Reprocessing makes Blamore the priority target, with a 44 million barrel recoverable 'best' estimate versus 26 million for Avalon. Sacred site clearance starts 13 June; farm-out talks continue.
22 May 2006drilling progress report● Neutral
WesternGeco seismic reprocessing is complete; ISIS Petroleum Consultants will produce well plans by 5 June. Road access options are being assessed and farm-out talks with several parties remain confidential.
1 May 2006drilling scheduled● Neutral
Progress report says the first well, originally planned for March/April 2006, slipped due to listing delays and funding timing. Central would now prefer to spud Avalon or Blamore in late June/early July 2006, subject to rig, seismic results and sacred site clearances.
