Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Feb 2025director officer appointment● NeutralMajor
Chair Mick McCormack will leave the board on 30 April 2025, as he flagged at the AGM. Non-executive director Dr Agu Kantsler, with over 45 years in the industry, will become Chair. A planned chair handover.
31 Jan 2025material agreement● Neutral
Arafura, the customer, says the condition precedent date in its Mereenie gas supply agreement is extended again, from 4 February 2025 to 31 March 2025. The Arafura FID condition stays unresolved for another eight weeks.
22 Jan 2025well test result▲ GoodMajor
WM29 began flowing to sales on 20 January 2025. A test reached about 7 TJ/d (100% JV), double the 3 TJ/d pre-drill expectation, but output is capped at 6 TJ/d by the wellhead skid. Resolves the open WM29 flow-rate thread; WM30 sales are targeted for early March.
22 Jan 2025well test result▲ Good
Partner Cue (7.5%) repeats Central's WM29 result: about 7 TJ/d in a 2-hour test, production limited to 6 TJ/d, double pre-drill expectations. WM30 is at about 585 mMD. No new Central information.
22 Jan 2025well test result▲ Good
Partner Echelon (42.5%) repeats the WM29 result: about 7 TJ/d tested, choked back to 6 TJ/d. It credits changed drilling-fluid planning and says Mereenie is back at the 30 TJ/d target. Mostly repeats Central's news.
16 Jan 2025drilling result● Neutral
Partner Horizon repeats that WM29 was completed, with casing set at 1,213.4 m and drilling to 1,326.3 m TVDRT through Pacoota-3, and WM30 spudded 16 January. Tie-in expected toward end of January. Repeats Central's news.
16 Jan 2025drilling result● Neutral
Partner Echelon repeats that WM29 was completed and WM30 spudded, with both wells expected online in Q1 2025. Adds that initial results suggest the underbalanced drilling technique is working. Mostly repeats Central's news.
16 Jan 2025drilling result▲ GoodMajor
WM29 was air-drilled and completed across the Pacoota-3 sandstones, with tie-in expected late January, earlier than planned because of NT gas shortages. WM30 spudded 16 January 2025. Flow rates not yet reported.
16 Jan 2025drilling result● Neutral
Partner Cue (7.5% interest) repeats Central's news that WM29 was completed and WM30 spudded on 16 January 2025. No new information.
20 Dec 2024material agreement● Neutral
Arafura Rare Earths, the customer, confirms the condition precedent date in its Mereenie gas supply agreement is extended from 31 December 2024 to 4 February 2025. Duplicate of Central's announcement.
20 Dec 2024material agreement● Neutral
Partner Horizon repeats the extension of the Arafura gas agreement's condition precedent date from 31 December 2024 to 4 February 2025. Duplicate of Central's announcement.
20 Dec 2024material agreement● Neutral
Echelon, a Mereenie partner, repeats the extension of the Arafura gas agreement's condition precedent date to 4 February 2025. Duplicate of Central's announcement.
20 Dec 2024debt financing▲ GoodMajor
Documentation for the extended loan is complete and the facility is now unconditional, with a five-year term to 31 December 2029 and no penalty for early repayment. Resolves the refinancing thread from the 28 October commitment.
19 Dec 2024material agreement● Neutral
The condition precedent date for the conditional Arafura gas supply agreement (Nolans rare earths project) is extended from 31 December 2024 to 4 February 2025. The Arafura FID deadline thread stays open for six more weeks.
5 Dec 2024drilling spud▲ GoodMajor
WM29, the first of two Mereenie development wells, spudded 5 December 2024. The two wells are expected to lift field capacity back above 30 TJ/d (100% JV) and produce at least 25 PJ, with up to 6 TJ/d extra sellable under the NT contract. Starts the drilling flagged since August.
5 Dec 2024drilling spud● Neutral
Partner Horizon confirms WM29 spud and says the two-well programme should take about two to three months. Horizon funds its share from existing cash. Repeats Central's announcement with partner detail; no new Central information.
5 Dec 2024drilling spud● Neutral
Partner Echelon confirms WM29 spud, with about 30 days planned per well and online expected in Q1 2025. Targets are 1,450 mMD for WM29 and about 1,681 mMD for WM30. Repeats Central's announcement with partner detail.
20 Nov 2024investor presentation▲ Good
AGM presentation restates known points: $25M cash, $1.9M net cash at 30 Sep, $22.3M loan extended to 2029, and the six-year NT Government gas contract. Two Mereenie wells are targeted to spud December 2024. Corporate costs fell $1.4M.
20 Nov 2024other▲ Good
Chair's AGM address says outlook is the most positive in some time, citing new NT gas contracts from 2025 to 2030, the Range exit and first net cash in a decade. Says a shareholder return strategy announcement is intended 'in the near future'. Remuneration restructured after the 2023 vote against.
28 Oct 2024debt financing▲ GoodMajor
Macquarie has committed to refinance the $22.3M loan to a five-year term ending 31 December 2029, with no early-repayment penalty. Subject to final documents, targeted by 30 November 2024. Removes the 30 September 2025 refinancing deadline and resolves the debt restructure thread.
1 Oct 2024investor presentation▲ Good
FY2024 results presentation repeating known figures: revenue $37.2M, net profit $12.4M, net cash $0.8M. Restates that the NT Government contracts underwrite two new Mereenie wells and support debt extension and shareholder returns. Notes the Stairway Sandstone's estimated 27 PJ contingent resource, net to Central.
25 Sept 2024investor presentation● Neutral
Notice of an online presentation of FY2024 results and activity update on 1 October 2024, with Q&A. Administrative; no new information.
18 Sept 2024annual report● NeutralMajor
FY2024 statutory profit $12.4M, including a $13.8M gain on the Range sale, versus an $8.0M loss in FY2023. Underlying EBITDAX fell 13% to $13.8M, which the company attributes to Northern Gas Pipeline interruptions. Net cash $0.8M.
18 Sept 2024other● Neutral
Appendix 4G, the checklist pointing to Central's corporate governance statement, which is current as at 11 September 2024. Administrative; no new information.
18 Sept 2024annual report▲ Good
2024 Annual Report, with the Chair's letter citing the new NT gas contracts, $12.5M Range proceeds and first net cash in a decade. Says the board may consider shareholder returns, hoped for in the near term. Repeats known results.
18 Sept 2024other● Neutral
Corporate Governance Statement for FY2024, describing the board's governance practices against the ASX principles. Routine annual compliance document with no new business information.
12 Sept 2024other● Neutral
Central's Securities Dealing Policy, setting out rules on share dealing and insider trading for directors, staff and their associates. A policy document only; no new business or financial information.
16 Aug 2024investor presentation● Neutral
June quarter presentation largely repeating known results and the NT Government deals and two approved wells. Notes net cash of $0.8M (the quarterly report said $1.1M) and a 2024 target list including sub-salt farmout, debt extension and helium plant FID.
15 Aug 2024drilling scheduled▲ GoodMajor
Mereenie JV approved two development wells (West Mereenie 29 and 30), lifting capacity from 27 TJ/d to over 30 TJ/d. Central's 25% share costs about $8M, funded from cash. Drilling is expected to start around end-2024, with gas in the first half of 2025.
9 Aug 2024investor presentation● Neutral
Notice of an online presentation of June quarter results on 16 August 2024 at 10:00am AEST, with Q&A. Administrative; no new information.
