Past year: ▼ 6%(5.80c – 9.30c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 July 2023resource reserve update▲ Good
Partner NZOG reports its share of Palm Valley 2P reserves up 14% to 2.1 mmboe after PV-12, and Dingo up 13% to 3.5 mmboe. This is the partner's view of fields Central operates; Central's own booking follows the same day.
27 July 2023resource reserve update▲ GoodMajor
Central's 2P gas reserves rose 8% before production to 75.0 PJe (1P 62.7) at 30 June 2023, on the PV-12 well at Palm Valley (2P 13.4 PJ) and Dingo remodelling (2P 21.9 PJ). This delivers the reserves booking expected from PV-12. Mereenie unchanged.
30 June 2023joint venture update▼ BadMajor
Peak Helium owes Central over $3M overdue under the farmout that completed 31 March, and Central thinks Peak may not fund its farm-in obligations. This puts the three-well sub-salt program at risk. Peak and its financiers want to restructure and prioritise Jacko Bore.
12 May 2023investor presentation● Neutral
Quarter presentation repeats known results: revenue $10.9M, net debt $15.1M, cash $14.2M, Peak farmout complete. Adds that Central should be exempt from the $12/GJ price cap, and that five Mereenie recompletions are in progress. Sub-salt drilling still planned late 2023/early 2024.
10 May 2023investor presentation● Neutral
Notice of an online March quarter results webinar on 12 May 2023 with the CEO and CFO, including Q&A. No new information.
2 May 2023admin correction● Neutral
Central re-lodged its March 2023 quarter cash flow report (Appendix 5B) on the current ASX template instead of the older one used on 28 April. Reported cash flows and other disclosures are unchanged.
18 Apr 2023investor presentation● Neutral
QUPEX presentation restates known facts: 6.3 PJe sales and $42.2M revenue in FY2022, net debt about $17M, 729.3M shares, and the three sub-salt wells. Mean Dukas-2 estimates are 429 bcf gas net to Central. Dukas-2 spud is expected in 1H 2024.
18 Apr 2023resource reserve update▲ GoodMajor
Central estimates its share across the three sub-salt wells at 44.8 bcf helium, 56.7 bcf hydrogen and 272 bcf natural gas. Only Jacko Bore's 2C contingent portion (4.3 bcf helium) is contingent; the rest is undiscovered prospective resource, carrying discovery risk. Peak carries Central up to $4.8M (Jacko Bore) and $5.8M (Mahler).
31 Mar 2023farm in farm out completion▲ GoodMajor
The Peak Helium farmout completed on 31 March 2023, resolving the long-delayed condition. Post-farmout interests: EP82 Central 29%, EP112 35%, EP125 24%. Peak free-carries Central for the Mahler and Jacko Bore wells (capped at $20M gross each); drilling is targeted for late 2023 or early 2024.
17 Mar 2023investor presentation▲ Good
Half-year presentation largely repeats known results: PV12 over 10 TJ/d with payback under 12 months, net debt $16.8M, $12M extra debt available. New detail: Range pilot gas rates have more than doubled to ~70 GJ/d since November. Sub-salt wells are planned for late 2023/early 2024; farmout completion was still expected by 31 March.
14 Mar 2023investor presentation● Neutral
Notice of an online half-year results webinar on 17 March 2023 with the CEO and management, including Q&A. No new information.
2 Mar 2023half year report▼ BadMajor
Half-year to December 2022: revenue $16.7M (down 29%, up 6.7% like-for-like), underlying EBITDAX $5.3M versus $10.0M, statutory net loss $11.2M versus a $30.5M profit last year (which included the asset-sale gain). Net debt $16.8M. PV12 has earned over $3M revenue since 28 November.
2 Mar 2023half year report● Neutral
Interim report for the half to 31 December 2022, matching the separate results release. The Chair says the strategic review continues and that some permits unlikely to be commercial will be surrendered. Full financials are truncated in the text provided.
1 Mar 2023other● Neutral
The Peak Helium farmout deadline was extended a further month, from 28 February to 31 March 2023. Central says contact with the NT Government shows good progress toward approving Peak's entry into EPs 82, 112 and 125. Completion is still pending.
1 Feb 2023other● Neutral
The Peak Helium farmout conditions precedent date was extended again, from 31 January to 28 February 2023, at Peak's request while it pursues Northern Territory Government approvals. Central agreed; Santos reportedly gave a similar extension. Completion is still pending.
15 Dec 2022material agreement▲ GoodMajor
New firm gas deal with South32 (Mt Isa): Central supplies 0.55 PJ over two years from 1 January 2023, take-or-pay, CPI-escalating price. Combined with Mereenie JV partners' gas it totals 2.19 PJ.
15 Dec 2022material agreement● Neutral
NZOG repeats the South32 deal from its side: 0.38 PJ over two years from 1 January 2023, fixed price, take-or-pay, aggregated with Mereenie JV gas to total up to 2.19 PJ. Central's own 0.55 PJ was announced separately.
12 Dec 2022debt financing● Neutral
The first $6M tranche of the Macquarie loan expansion announced 28 November became unconditional and was partly drawn. The amount drawn is not stated here.
1 Dec 2022production update▲ Good
NZOG repeats Central's news: Palm Valley 12 was tied in and began flowing sales gas on 28 November at a stable ~10 TJ/d, above pre-drill expectations. Field output is expected to approach the 15 TJ/d plant maximum in mid-December.
1 Dec 2022production update▲ GoodMajor
Palm Valley 12 was tied in and began flowing on 28 November at a stable ~10 TJ/d, about 40% above pre-drill expectations (CEO). Field output is expected to approach the 15 TJ/d plant maximum in mid-December. First production from the rescued well.
30 Nov 2022other● Neutral
Peak Helium farmout conditions precedent date extended again, from 30 November 2022 to 31 January 2023, at Peak's request given the holiday season. Central agreed; Santos reportedly gave a similar extension. Completion is still pending.
28 Nov 2022debt financing▲ GoodMajor
Macquarie agreed to expand Central's loan facility by up to $12M in two $6M tranches, to fund Mereenie recompletions and development wells (subject to JV approval). Drawing depends on conditions precedent; Macquarie also gets a 0.25% royalty on Central's 35% of EP112.
17 Nov 2022admin correction● Neutral
Central lodged its amended Constitution, adopted by special resolution at the 10 November 2022 AGM. Administrative filing; the text given does not say what changed.
10 Nov 2022investor presentation● Neutral
AGM presentation restates known facts: PV12 rig test about 12 TJ/d, net debt $15.1M, Macquarie facility extended to 2025, Range needs further appraisal. Carry funds available are $11.4M at 30 September, down from $21.1M at 30 June. No new announcements.
18 Oct 2022flow test result▲ Good
NZOG repeats Central's result: Palm Valley-12 P1 sidetrack flowed about 11.8 mmscfd in a 187-minute rig test and is being completed as a producer. Rate is similar to Palm Valley-13 in 2018. This is the last weekly update.
18 Oct 2022flow test result▲ GoodMajor
Palm Valley-12 P1 sidetrack flowed about 11.8 mmscfd in a 187-minute rig test and is being completed as a producer, similar to Palm Valley-13 in 2018. Production rate is only known after tie-in. Rescues the well after the failed deeper lateral; final weekly update.
12 Oct 2022other● Neutral
Peak Helium farmout conditions precedent date extended from 12 October to 30 November 2022, at Peak's request, after NT stamp duty assessment was finalised. Remaining conditions are still outstanding. Santos reportedly gave Peak a similar extension.
11 Oct 2022drilling progress report▲ Good
Palm Valley-12 P1 sidetrack reached total depth of 3,039m on 8 October and was being cleaned up for a further flow test. After testing, production tubing will be run to complete it as a gas producer.
11 Oct 2022drilling progress report▲ Good
NZOG repeats Central's update: Palm Valley-12 P1 sidetrack reached total depth of 3,039m on 8 October and was being cleaned up ahead of a further flow test. It will then be completed as a gas producer.
3 Oct 2022flow test result▲ GoodMajor
Palm Valley-12 P1 sidetrack flowed gas at about 7 TJ/d in a 47-minute interim test, at 2,598m with about 440m of hole left to drill. The CEO still calls the earlier exploration result disappointing. First P1 flow after the failed P2/P3 lateral.
