3 Sept 2015investor presentation● Neutral
RIU Good Oil Conference presentation using the same 'Wake up, Australia!' theme. Only the disclaimer and the start of the 'Looming Supply Crisis' section are visible, so no new information can be reported.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Sept 2015farm in farm out completion▲ GoodMajor
The purchase of Santos's 50% of Mereenie completed on 1 September 2015, on the expected date, and Central is now operator. With Palm Valley and Dingo, Central says 230 PJ of gas is available to market for NEGI. It expects the NEGI announcement next quarter.
26 Aug 2015investor presentation● Neutral
SEAAOC conference presentation ('Wake up, Australia! Your country needs the Territory'). Only the disclaimer and the start of a 'Looming Supply Crisis' section are visible, so no new information can be reported.
19 Aug 2015other▼ BadMajor
Central says it learned from media of a Houston district court lawsuit over the Total farm-in negotiated in Perth. It has not been served, says its records show no factual basis for the claim, and denies it. Claimant and amount are not stated in the text.
6 Aug 2015resource reserve update● Neutral
Restated Mereenie gas volumes last audited by GCA at end-2012 for Santos: 100% field 2P 123 PJ, 3P 152 PJ and 2C 121 PJ. Central's net share (about 61 PJ 2P) is indicative until its 50% purchase completes; Santos's unaudited end-2014 figures were essentially unchanged.
31 July 2015quarterly activities report● Neutral
June 2015 quarter: Mereenie purchase from Santos expected to close 1 September 2015. Surprise oil production will be temporarily shut in from August 2015 because of low oil prices. Chairman Whittle steps down at month end; Palm Valley/Dingo reserves of 56.8 PJ 2P restated.
31 July 2015director officer appointment● NeutralMajor
Robert Hubbard, a director since 2013 and Deputy Chairman since May 2015, becomes Chairman as Andy Whittle steps down as chair. Whittle stays on the board until the upcoming AGM to assist the transition. This resolves the chairman succession question.
29 July 2015other● Neutral
Company's Share Trading Policy document, restricting trading by directors, staff and related parties while holding price-sensitive information, with a blackout of 5 business days before and 24 hours after quarterly reports. Administrative; no new events.
28 July 2015investor presentation● Neutral
Developing Unconventional Gas Conference presentation ('Ready to supply the shortfall'). Only the disclaimer is visible, so no new information can be reported.
21 July 2015resource reserve update▲ GoodMajor
NSAI certifies Palm Valley and Dingo (100% Central) at 30 June 2015: 28.0 PJ 1P, 56.8 PJ 2P and 52.4 PJ 2C. Central expects the 2C, contingent on markets, to convert to 2P once NEGI is certain, giving about 109.2 PJ 2P.
14 July 2015investor presentation● Neutral
Noosa Mining Conference presentation ('We are ready, shortfall is our pathway'). The visible text shows the disclaimer and a note that the company holds 56,522,900 acres; no other new information is visible.
23 June 2015investor presentation● Neutral
Revised re-release of the 18 June Gold Coast Investment Showcase presentation. Visible text is identical disclaimer, so the nature of the revision is not shown and no new information can be reported.
18 June 2015investor presentation● Neutral
Gold Coast Investment Showcase presentation on the Mereenie acquisition ('The foundations are laid'). Only the disclaimer is visible, so no new information can be reported.
15 June 2015other● Neutral
Notice that Managing Director Richard Cottee was interviewed by a CommSec analyst, with links to the video. No substance in the text itself; the interview content is not reported.
10 June 2015investor presentation● Neutral
Queensland Investors Club dinner presentation on the Mereenie acquisition, titled 'Consolidation & Catalyst'. Only the disclaimer and the start of the asset section are visible, so no new information can be reported.
4 June 2015asset acquisition disposition▲ GoodMajor
Central agrees to buy Santos's 50% of the Mereenie oil and gas field and become operator, for $45m cash ($35m at closing, $10m June 2016). Funded by Macquarie facility lifted to $90m, no equity raise. A further $15m bonus and $55-75m work program apply only if NEGI proceeds.
18 May 2015investor presentation● Neutral
APPEA 2015 conference presentation 'Unlock the Gas', covering the domestic gas shortfall, Central's role and its employment philosophy. Only the disclaimer is visible, so no new information can be reported.
29 Apr 2015quarterly activities report● Neutral
March 2015 quarter: Dingo received consent to operate and its gas sales agreement began 1 April 2015. Palm Valley and Dingo should reach over 3.3 PJ a year. Surprise averaged 137 bopd and cash closed at $5.8m, down from $10.3m at 30 June 2014.
7 Apr 2015director officer appointment● NeutralMajor
Robert Hubbard is appointed Deputy Chairman as part of succession, with Chairman Andy Whittle foreshadowing standing down around the end of the financial year. Richard Cottee's CEO contract is extended 3 years, becoming a direct employee instead of seconded from Freestone.
1 Apr 2015other● Neutral
Central says it welcomes reports the North East Gas Interconnector is 'almost certain' to be built. It clarifies that Merlin Energy Australia, a bidder, is not its subsidiary Merlin Energy Pty Ltd, and Central has no construction or funding role, only as a gas supplier.
23 Mar 2015production update▲ GoodMajor
Dingo gas project is commissioned with regulatory approvals obtained, ahead of schedule and 10% under budget. Physical gas sales start once the customer's tie-in at Owen Springs Power Station is finished. Capacity is 2.2-2.4 PJ a year. Follows the Magellan assets purchase a year earlier.
10 Mar 2015admin correction● Neutral
Amended re-lodgement of the 31 December 2014 interim report. The visible text appears essentially the same as the original, with minor wording and formatting changes. The text is truncated, so the substance of any amendment is not shown.
10 Mar 2015half year report● Neutral
Interim report for the six months to 31 December 2014. Highlights include a framework agreement with Incitec Pivot for up to 15PJ a year from 2017 (conditional on NEGI), Surprise averaging 173 bopd, and Herrington and Dunmore resigning as directors in November. Text truncated, so no financial figures are reported.
9 Mar 2015drilling progress report▲ Good
Hydro-testing of the Dingo pipeline, plant and gathering system finished successfully, completing the mechanical work. Commissioning is expected within two weeks, when regulatory approval to operate is expected. Continues the Dingo build begun in September 2014.
6 Mar 2015other▼ Bad
S&P Dow Jones Indices announced Central Petroleum is removed from the All Ordinaries index after close on 20 March 2015. The text is truncated, so any other CTP index changes are not visible. Index change, not a company event.
24 Feb 2015drilling progress report▲ Good
Dingo pipeline construction is complete and hydro-testing (up to two weeks) begins. Central says the project is on time and close to 10% under the Macquarie facility budget, leaving over $2.5m of undrawn facility that it may be able to access.
9 Feb 2015material agreement▲ Good
Central agreed with Power and Water Corp to start selling about 2TJ/day of Palm Valley gas early under the September 2012 gas sale agreement, ahead of Dingo. Dingo is said to be on schedule and under budget, with commissioning in Q2 2015.
4 Feb 2015price query● Neutral
ASX queried a rise from 7.5c to an intraday 15.5c. Central said it knows of no undisclosed information, and attributes the move to the market favouring domestic gas over oil exposure, as its quarterly report stated.
30 Jan 2015quarterly activities report● Neutral
December 2014 quarter: Surprise averaged 157 bopd, down from 193 last quarter. The Incitec Pivot framework agreement is highlighted, and Dingo is on time and under budget with sales expected in the second quarter. Management says it aims to avoid diluting shareholders at depressed prices. Text is truncated.
16 Dec 2014other▼ BadMajor
After the oil price fall hit Surprise revenue, Central cut headcount by 40%, will spend only on necessary items, and directors will defer 20% of fees. It applies to run Surprise remotely from Alice Springs. Gas operations and the gas growth program are said to be unaffected.