Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Jan 2007farm in farm out agreement▲ GoodMajor
The He Nuclear MoU became a formal farm-out agreement. He Nuclear funds A$5 million of a roughly A$10 million programme (seismic plus a well each at Mt Kitty and Magee) to earn 25% of each prospect. This resolves the MoU thread and delivers Central's first signed farm-out.
12 Jan 2007regulatory community update▲ Good
Federal consent to grant EPA 115 has been received; only Northern Territory ministerial sign-off remains, with grant expected shortly. The company calls it the first Western Amadeus permit granted since the early 1980s. Largely repeats the December announcement.
13 Dec 2006regulatory community update▲ Good
The Central Land Council consented to grant of EPA 115, a 13,000 km2 Western Amadeus permit hosting the Johnstone oil prospect. Ministerial approvals remain, with grant expected early in the new year. This advances an open permit thread.
8 Dec 2006drilling result▲ Good
A spectral attenuation study of seismic over Avalon and Blamore shows moderate to strong anomalies at all target zones except Poolowanna, which the company says can indicate hydrocarbons. RPS's c.60 MMbbl mean estimate is repeated. Supportive technical data, not a well result.
6 Dec 2006drilling result▲ Good
Aerial and satellite (ASTER) studies map possible gas seepage zones over Ooraminna and Waterhouse, likened to Palm Valley. These are interpretations, not drilling results. High-case estimates are 0.7 TCF for Ooraminna and 1.1 TCF for Waterhouse; further seismic is planned for Dec/Jan.
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.
6 Nov 2006director officer appointment● Neutral
Tony Rudge joins as Senior Geoscientist, with over 10 years' experience including Amadeus Basin seismic reprocessing. A staff hire, not a board change.
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 Oct 2006regulatory community update▼ Bad
The Central Land Council has backed away from its 16 October advice: it has not agreed to meet Traditional Owners on the Pedirka access route, so Blamore #1 remains held up. RPS's c.60 MMbbl estimate for Avalon and Blamore is repeated; farm-in offers still targeted by 31 October.
16 Oct 2006regulatory community update● Neutral
Sacred site clearances are complete over the Avalon and Blamore drill sites and Ooraminna and Mt Kitty seismic lines, but the preferred Pedirka access route is still unapproved. An RPS audit puts the two prospects at about 60 million barrels mean recoverable; Central aims for farm-in offers by 31 October.
3 Oct 2006material agreement termination▼ BadMajor
The Heads of Agreement for White Sands Petroleum to farm into EPA 92, PELA 77 and EP 93 has been terminated, citing uncertainty over White Sands' drilling rig availability. Central's first farm-in prospect therefore falls away.
21 Sept 2006material agreement● Neutral
Central engaged Horwath to advise on R&D tax concession eligibility for its drilling, seismic and gas-to-liquids ideas. Reiterates the $3.5 million Amadeus seismic from Q4 2006 and Blamore #1 awaiting access road approval.
20 Sept 2006regulatory community update● Neutral
Sacred site clearance is complete over Mt Kitty, ahead of Amadeus seismic planned for late 2006. The Pedirka access route is still unresolved, and the first well could spud within three months of resolution.
11 Sept 2006annual report● Neutral
2006 annual report and AGM notice. The chairman says Blamore will be the first well but the access route has been under discussion with the Central Land Council for almost six months. Farm-out talks continue with several majors.
25 Aug 2006security holder rights change● Neutral
272,667 shares and 136,334 options are released from escrow on 8 September 2006. Administrative notice only.
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.
28 July 2006asset acquisition disposition▲ Good
Central applied for EPA 137, 8,400 square kilometres around the Palm Valley gas field in the Amadeus Basin. The company says the grant is not guaranteed and may take significant time, requiring Central Land Council negotiation.
20 July 2006security holder rights change● Neutral
61,750 shares and 30,875 options are released from escrow on 3 August 2006. Administrative notice only.
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.
6 June 2006security holder rights change● Neutral
8,750 shares and 4,375 options are released from escrow on 16 June 2006. Administrative notice only.
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.
4 May 2006security holder rights change● Neutral
475,084 shares and 237,542 options are released from escrow on 16 May 2006. Administrative notice only.
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.
1 May 2006other● Neutral
Clarifies that Central sees gas-to-liquids as the best way to monetise central Australian gas rather than pipeline sales. Initial focus is on four oil prospects with over 300 million barrels 'high' estimate.
12 Apr 2006security holder rights change● Neutral
116,250 shares and 58,125 options are released from escrow on 28 April 2006. Administrative notice only.
29 Mar 2006security holder rights change● Neutral
785,000 shares and 392,500 options are released from escrow on 12 April 2006. Administrative notice only.
22 Mar 2006investor presentation● Neutral
Independent pre-feasibility study on a 10,000 barrel/day gas-to-liquids plant in central Australia. The report states Central owns no drilled gas resources and has not yet drilled, and that it is not a basis for investment.
16 Mar 2006contract award● Neutral
Central appointed Kemara Pty Ltd to help with rig-site access for its Pedirka Basin programme. Avalon and Blamore prospects in EP 93 have combined 'high' estimate of 195 million barrels; choice of first target awaits seismic reprocessing.
9 Mar 2006other● Neutral
Explains that Linde has made a pre-conditional bid for BOC Group, Central's helium memorandum partner (signed August 2005). Shares first quoted 7 March 2006. No change to Central's own position is stated.
