Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
25 July 2006quarterly activities report● Neutral
June quarter report: cash fell to about $8.37 million from $9.06 million. Blamore #1 drilling tenders were invited, access and sacred site clearance are still being negotiated, and farm-out talks continue in confidence.
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.
24 Apr 2006quarterly activities report● Neutral
March quarter report: Central acquired three companies giving about 20 million acres in the Amadeus Basin, and has about $9.06 million cash. Pedirka seismic reprocessing is under way; no farm-out signed yet and the six-well programme depends on more funding.
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.
9 Mar 2006security holder rights change● Neutral
100,000 shares and 50,000 options (expiry 30 June 2007) are released from escrow on 20 March 2006. Administrative notice only.
6 Mar 2006capital raising announcement▲ GoodMajor
Central Petroleum listed on the ASX after an IPO raising over $10.6 million (minimum was $9.5 million), with over 650 shareholders. It plans two initial wells in the Pedirka and Amadeus Basins; a six-well programme depends on further capital or farm-outs.
