Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Mar 2025investor presentation● Neutral
Half-year update slides repeat known facts: $23.4M loan extended to end 2029, net cash $1.6M, underlying EBITDAX $8.6M, statutory profit $1.5M, and new NT contracts lifting prices from January 2025. Palm Valley wells and Stairway appraisal remain 'under consideration'. Little new.
12 Mar 2025investor presentation● Neutral
Notice of an online half-year results webinar on 14 March 2025, led by CEO Leon Devaney and CFO Damian Galvin. No new information.
10 Mar 2025half year report▲ Good
Half-year to December 2024: underlying EBITDAX $8.6M (+7%), statutory profit $1.5M versus $13.9M a year earlier, which included the Range sale gain. Sales revenue was $18.9M and operating cash flow $4.3M. January price was over $9.70/GJe, up 21%.
10 Mar 2025half year report▲ Good
Half-year accounts to 31 December 2024: the Chair's letter reports cash of $23.4M and January portfolio price over $9.70/GJe. It says the company is interested in a steady shareholder return strategy and in investing in Palm Valley and possibly Stairway. Full figures are in the results release.
7 Mar 2025production update▲ GoodMajor
WM30 came online on 26 February at over 4 TJ/d, against about 3 TJ/d expected. Mereenie sales capacity is now about 32 TJ/d (100% JV). Delivered cost was under the $8M (Central share) budget. Resolves the WM30 result thread.
19 Feb 2025drilling result▲ GoodMajor
WM30 was air-drilled to 1,620 m and the rig released on 19 February 2025; tie-in is expected early March. WM29 has stabilised at about 5 TJ/d versus 3 TJ/d expected. The programme is forecast to finish under budget.
19 Feb 2025drilling result▲ Good
Partner Horizon repeats that WM30 was drilled and completed through Pacoota-3, with tie-in expected toward end of February. It says the programme was on time and within budget. Repeats Central's news.
19 Feb 2025drilling result▲ Good
Partner Echelon repeats that WM30 is complete, with WM29 online at about 5 TJ/d. It expects Mereenie capacity above 30 TJ/d and the programme under budget. Mostly repeats Central's news.
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.
31 Jan 2025quarterly activities report▲ Good
December quarter sales were 1.17 PJe, revenue $9.4M at $8.01/GJe, and cash $23.4M. Net cash was $1.6M and debt $24.3M. Mereenie capacity rose to about 30 TJ/d with WM29. Loan repayments are not required until March 2027.
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.
31 Oct 2024quarterly activities report▲ Good
September quarter: sales 1.1 PJe (+6%), revenue about $9.0M, price $7.91/GJe. Cash $24.8M, net cash $1.9M. Mereenie well drilling now expected to start December 2024. Palm Valley well permitting continues. Restates the Macquarie loan extension commitment.
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.
