18 Oct 2024agm notice● Neutral
Shareholder letter with voting and attendance details for the 20 November 2024 AGM. Administrative; no new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
20 Sept 2024agm notice● Neutral
Notice that the 2024 AGM will be held on 20 November 2024, in person and online. Director nominations close 30 September 2024. Administrative notice.
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.
31 July 2024quarterly activities report▲ Good
June quarter: sales 1.06 PJe (+3%), revenue $8.4M (+2%), price $7.90/GJe. FY24 revenue $34.3M (-10%). Cash $25.0M, debt $23.9M, giving net cash of $1.1M, the first in a decade. Highlights the new gas sale agreements signed in July.
29 July 2024joint venture update● Neutral
Partner Horizon Oil's release on the Mereenie NT Government gas deal and restructured Arafura deal, repeating Central's figures (8.3 PJ net to Horizon). Says infill drilling planning is well advanced. Nothing new for Central.
29 July 2024material agreement▲ GoodMajor
Central's gas EOI concluded with new firm take-or-pay deals with the NT Government, from 1 Jan 2025 to end 2030: up to 40.5 PJ gross (12 PJ Central share). The Arafura deal is deferred to start 2028 (up to 4.1 PJ net), with conditions now due 31 Dec 2024.
29 July 2024joint venture update● Neutral
Arafura's release revising its Mereenie gas deal to up to 16.44 PJ gross: 5.49 PJ in 2028, then up to 10.95 PJ across 2029-30. Take-or-pay with fixed pricing. Single condition: Arafura FID by 31 Dec 2024. Central's own announcement covers this.
29 July 2024joint venture update● Neutral
Partner NZ Oil & Gas's release on the new NT Government gas deals and amended Arafura deal, attaching Central's announcement. Adds that NZO has been advised the Northern Gas Pipeline outage is expected to run through to November 2024. Nothing new for Central's contracts.
4 July 2024director officer appointment● Neutral
CEO Leon Devaney stays on, but his total fixed pay is cut from $681,849 to $595,000 from 1 July 2024, following an independent review to align with market peers. Employment is ongoing with no fixed term.
25 June 2024security holder rights change● Neutral
Small parcel sale facility completed: 6,492,141 shares from 2,289 holders sold at an average A$0.0513. Payment goes out 28 June 2024. Central says fewer small holdings will cut administration and registry costs. Closes the thread opened in April.
24 June 2024joint venture update● Neutral
Partner NZ Oil & Gas's release noting the South32 gas supply extension from Mereenie, 12 more months, is now unconditional. Restates interests: NZO 42.5%, Horizon 25%, Central 25%, Cue 7.5%. Nothing new for Central.
24 June 2024material agreement▲ Good
The South32 gas sale agreement extension (0.36 PJ for 2025) has become unconditional, so the transport-agreement condition due by 30 June 2024 is met. Resolves an open thread from the September 2023 extension.
24 June 2024joint venture update● Neutral
Partner Cue Energy's release saying the South32 gas supply extension from Mereenie is now unconditional. Restates interests: Cue 7.5%, Central 25% operator, NZOG 42.5%, Horizon 25%. Nothing new for Central beyond the 24 June announcement.
24 June 2024joint venture update● Neutral
Partner Horizon Oil's release on the South32 Mereenie extension becoming unconditional. Adds that the JV will supply 1.46 PJ to South32 in 2025 (gross). Restates Horizon 25%, Central 25% operator. Largely repeats Central's 24 June news.
17 June 2024joint venture update● Neutral
Partner NZ Oil & Gas's release attaching Central's Arafura condition extension to 31 July 2024. Restates NZO 42.5%, Horizon 25%, Central 25%, Cue 7.5% at Mereenie. Nothing new for Central.
17 June 2024material agreement▼ Bad
The deadline for Arafura to meet conditions on its Nolans gas supply agreement (up to 6.85 PJ net from 2026) is extended one month, from 30 June to 31 July 2024. The deal remains conditional.
14 June 2024investor presentation▲ Good
March quarter presentation largely repeating known figures. Adds: Peak Helium removed from the sub-salt JVs, EP125 (Mt Kitty) extended to June 2025, helium unit moving to turnkey tolling with FID targeted later in 2024, EOI bids due 18 June, and debt restructure possible.
11 June 2024investor presentation● Neutral
Notice of an online presentation of March quarter results on 14 June 2024 at 10:00am AEST, with Q&A. Administrative; no new information.
5 June 2024security holder rights change● Neutral
Closing date to opt out of the small parcel sale facility extended by seven days, from 5 June to 12 June 2024. Payment is expected as soon as practicable after 19 June 2024.
17 May 2024material agreement▲ GoodMajor
Mereenie JV has opened an expression of interest for up to 40 TJ/d, 90 PJ (22.5 PJ net to Central) from mid-2024 to end-2030. It would support a decision to drill multiple wells. Mereenie has sold at full capacity since late April under the as-available PWC deal.
17 May 2024joint venture update● Neutral
Partner Cue Energy's release attaching Central's Mereenie gas expression of interest (up to 40 TJ/d, 90 PJ gross to 2030). Notes Cue's 7.5% interest. Nothing new for Central.