Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 June 2019drilling progress report● Neutral
Dukas-1 has drilled to 2,604 m with surface casing cemented. Low background gas in the Gillen Formation could indicate the salt is an effective regional seal. The Heavitree target is estimated about two weeks away; Central keeps 30% after the free carry.
16 Apr 2019drilling spud▲ GoodMajor
Santos spudded the Dukas-1 exploration well in EP112 on 16 April 2019, targeting about 3,600 m. Central is free-carried and keeps 30% after completion, with Santos holding 70%. This is the Southern Amadeus farm-out well flagged earlier.
13 Nov 2018resource reserve update▲ GoodMajor
Independent NSAI estimate as of 30 June 2018: Central's net 2P gas reserves up 37% to 169 PJ, 1P up 65% to 134 PJ, 3P 205 PJ. 2P oil up 154% to 0.97 million barrels. Contingent resource (2C) gas fell 36% to 91.2 PJ. Increase attributed to the Northern Gas Pipeline and PV13.
31 Oct 2018farm in farm out completion▲ GoodMajor
Santos completed 1,337 km of seismic and elected Stage 3, drilling the Dukas prospect in EP112 in Q1 2019 to earn 70%, free-carried for Central. Santos stays at 40% in EP82, EP105 and EP106, leaving Central 60%. Dukas could hold multiple TCF if successful.
15 Oct 2018drilling result▲ GoodMajor
Palm Valley-13 stopped early at 2,242 m MD versus the 3,471 m plan, after a second test of 12.1 mmscfd and 85 m net pay. Central says further drilling is not justified. Tie-in to production is planned for early 2019. Note: the release misdates the stop as 13 September; a correction followed.
28 Sept 2018drilling progress report● Neutral
Palm Valley-13 reached 1,845 m measured depth, with the 7-inch liner cemented and a downhole valve installed. Drilling continues, with the Pacoota Sandstone target expected next. No gas result yet.
11 Sept 2018drilling progress report● Neutral
Palm Valley-13 reached 1,119 m measured depth, with 9 5/8-inch casing run and cemented with full cement returns to surface. It is targeting a total depth of 3,471 m MD, with a near-horizontal reservoir section of up to 1,570 m.
21 Aug 2018drilling spud● NeutralMajor
Palm Valley-13 spudded on 21 August, a 100% Central well using the Ensign 932 rig. It targets known Pacoota P1 gas at a high angle, planned 46 days to 3,476 m measured depth. It is the second of the three programme wells.
6 July 2018drilling result● Neutral
West Mereenie-26 finished drilling an 893 m horizontal section through the Lower Stairway 2 to 2,388 m measured depth. It was logged and is being suspended, with the rig released by 7 July. Log analysis will decide next steps; no flow rate has been reported.
28 June 2018drilling progress report▼ Bad
West Mereenie-26 is at 2,274 m measured depth with about 700 m to go. Background gas is rising, but natural permeability is low and further work may be needed to complete the well.
25 June 2018drilling progress report▼ Bad
West Mereenie-26 reached the target Lower Stairway 2 sandstone, with 425 m of horizontal section drilled. Only minor gas shows were seen, and there is evidence of fractures plugged with minerals, a cautious early sign for the Stairway play.
7 June 2018drilling progress report● Neutral
West Mereenie-26 has surface casing set at 544.8 m and was drilling at 916 m measured depth, with 518 m to go before reaching the target Stairway Sandstone. No results yet.
23 May 2018drilling spud● NeutralMajor
West Mereenie-26 spudded on the night of 22 May, about a month later than the 20-21 April expected. It targets Stairway gas, with 36 days planned to reach 2,915 m measured depth including up to 1,481 m horizontal. Central operates with 50%.
11 Apr 2018drilling scheduled● Neutral
West Mereenie-26 is expected to spud 20-21 April, drilling for 35-40 days; the $12m plant upgrade ($6m Central share) is on budget and time. Central also negotiated a further $5m extension of its Macquarie debt facility.
22 Mar 2018drilling scheduled● Neutral
Ensign Rig 932 is moving to Mereenie, with the first equipment on site. West Mereenie-26, the first well of a now three-well programme, is expected to start in April 2018, after earlier hopes of March.
2 May 2017farm in farm out completion● Neutral
Santos exercised its option, granted in the 2015 Mereenie deal, to take 50% and operatorship of EP(A)111 and EP(A)124 in the Southern Amadeus Basin. Central keeps 50% of these application areas.
27 Feb 2017farm in farm out completion▼ BadMajor
Total GLNG has chosen not to proceed with Stage 2 of the Southern Georgina Basin farm-in, so Central keeps 100% of the acreage. Exploration suspended since March 2016 will be reassessed. Macquarie due diligence is being finalised and talks continue.
14 Mar 2016resource reserve update▲ GoodMajor
NSAI certified Stage 1 of the Mereenie upgrade: Central's 50% proved reserves up 240% to 62 PJ, proved plus probable up 22% to 75 PJ, and 2C contingent resources up 50% to 91 PJ. This lifts the 280 PJ-era base and follows the August 2015 booking.
1 Sept 2015farm in farm out completion▲ GoodMajor
The purchase of Santos's 50% of Mereenie completed on 1 September 2015, on the expected date, and Central is now operator. With Palm Valley and Dingo, Central says 230 PJ of gas is available to market for NEGI. It expects the NEGI announcement next quarter.
6 Aug 2015resource reserve update● Neutral
Restated Mereenie gas volumes last audited by GCA at end-2012 for Santos: 100% field 2P 123 PJ, 3P 152 PJ and 2C 121 PJ. Central's net share (about 61 PJ 2P) is indicative until its 50% purchase completes; Santos's unaudited end-2014 figures were essentially unchanged.
21 July 2015resource reserve update▲ GoodMajor
NSAI certifies Palm Valley and Dingo (100% Central) at 30 June 2015: 28.0 PJ 1P, 56.8 PJ 2P and 52.4 PJ 2C. Central expects the 2C, contingent on markets, to convert to 2P once NEGI is certain, giving about 109.2 PJ 2P.
9 Mar 2015drilling progress report▲ Good
Hydro-testing of the Dingo pipeline, plant and gathering system finished successfully, completing the mechanical work. Commissioning is expected within two weeks, when regulatory approval to operate is expected. Continues the Dingo build begun in September 2014.
24 Feb 2015drilling progress report▲ Good
Dingo pipeline construction is complete and hydro-testing (up to two weeks) begins. Central says the project is on time and close to 10% under the Macquarie facility budget, leaving over $2.5m of undrawn facility that it may be able to access.
5 Nov 2014drilling result▲ Good
Gaudi-1 reached total depth of 2,430m in basement, with gas shows through the Lower Arthur Creek Formation. 66 core segments were sent for gas analysis. The well will be logged, cased and suspended. This is an early, encouraging sign, not yet a flow result.
20 Oct 2014drilling progress report▲ Good
Gaudi-1 coring has reached 2,157m in the Lower Arthur Creek Formation, with 8 cores taken, over 10% of the total expected. The company calls the cores releasing gas a positive early sign; desorption results will follow.
17 Oct 2014drilling progress report● Neutral
Gaudi-1 has finished cutting its first core after reaching 2,102m and running intermediate casing. Gas shows continue to be evaluated; core analysis will take about 6 months. No new result.
7 Oct 2014drilling progress report● Neutral
Gaudi-1 is drilling at 2,095m in 8½-inch hole, with gas shows encountered. Intermediate casing and coring through the Arthur Creek Formation come next. Core analysis will take about 6 months, and the company says no single result will make or break the well.
15 Sept 2014drilling spud● NeutralMajor
Gaudi-1, the second well in the Southern Georgina unconventional gas program with Total, spudded 14 September 2014. Planned to reach about 2,900m, with the Lower Arthur Creek Formation fully cored. Follows Whiteley-1, which was suspended pending a liner.
1 Sept 2014drilling progress report▼ BadMajor
Rig moves to Gaudi-1 to spud mid-September, to finish both wells before the wet season; Whiteley-1 is suspended pending a liner for hole problems. Santos will not proceed to Stage 2 of NW Mereenie. Mt Kitty logging begins 2 September.
19 Aug 2014drilling progress report▼ Bad
Whiteley-1 has 7-inch casing set at 988m and is at 1,141m. Fluid losses in the open hole were met, and a plug has been set while it cures before drilling resumes. A minor setback with no result yet.
