Slide 1: Mining 2005, Brisbane, October 26-28, 2005
ve ie ae ae ne ee i |, October 26, 27 & 28, 2005 7 BRISBANE - AUSTRALIA
Slide 2: Comet Ridge Limited
= womet Ridge Lim v Formed 2 years ago v Floated 18 months ago Y Established in the Australian CSG business v Expanded into the US in 2005
Slide 3: Strategy
IN Comet Ridge al Strategy Y Discover and develop large scale coal seam gas projects in eastern Australia
Slide 4: Tipton West
Comet Ridge Tipton West
Slide 5: Achievements
hievements MNS Comet Ridge NNN Gem ea | . In the past 18 months: ¥ Significant gas reserves @ Tipton West (3P > 2000PJ) Y Significant gas resource @ Mahalo (~ 990 PJ in place) Y Strategic alliance to secure drilling technology . ¥ Strengthened balance sheet . via sale of Tipton West Y Initiated US S
Slide 6: Petroleum Lease
a - . - 7 Petroleum Lease PL.198 {20%} Tipton West Pilot, + care ease {Milinerrar: 2 BO%
Slide 7: Transaction
IN Comet Ridge ransaction Vv $2,250,000 cash + 2m unlisted 60c options in Arrow VY $2,250,000 by 31 Dec ‘05 v Royalty payment of 1.5% up to $8 million Total Transaction Value ~ $12.8 million* * Over the Ife of the rayalty
Slide 8: Benefits
IN Comet Ridge Benefits _ Y Cash on cash return on investment Strengthened balance sheet v $5 million plus on hand to fund expanded strategy Cash flow anticipated Nov ‘06 at no capital risk V Near term capital raising avoided Company now in control of its destiny
Slide 9: Large scale coal seam gas projects
IN Comet Ridge v Large scale coal seam gas projects v Low risk, close in exploration and rejuvenation of mature oil and gas fields utilizing under-balanced directional drilling technology
Slide 10: Comet Ridge projects
Comet Ridge : a INN LF 2 A oO Q 3 o Pa) Q. <a oO antos ee ¥ Core Project ee “Earning 40% oo | . - v Gas Resource ~ 1 TCF _ ¥3 wells December ‘05 | @ \ Gee v Flow test inferred gas Cap / | 1. Spina Gully a a a a
Slide 11: Mahalo project area
Comet Ridge co oe Mahato Project Area Petroleum Wells Dry hole, Gas Show Coal Hole Comet Ridge Core Holes Proposed Core Holes mer Gas pipeline ARs Edge of Permian -250- Depth metres sub sea "Structural High @ Gasficid Poliux Seam Top Bandanna Formation
Slide 12: Premium energy market
IN Comet Ridge v Premium energy market Y Broad spectrum of opportunities Vv Short time from discovery to cash flow v Increased opportunity to apply competitive advantage = On the ground experience & drilling technology
Slide 13: i Bg | y C
i Bg | y C
Slide 14: Overlooked coal seam gas opportunities
IN Comet Ridge Y Overlooked coal seam gas opportunities Y Opportunities to apply directional drilling technology developed in Australia — Lower permeability, high gas content coals — Fractured reservoirs — Mature oil and gas fields
Slide 15: Cini
i Cini oe y a SSS - S oS = SS KLOMETRES 2 th 3 or o & o GO
Slide 16: oS ed oe se vo) o i — ow GC - = — idge
oS ed oe se vo) o i — ow GC 2 - = — idge PR Come
Slide 17: Comet Ridge
Comet Ridge
Slide 18: US project area
AS... ~e yy ar Cc reek a Area =] Comet Ridge Torrent Energy SORPORATION
Slide 19: Tow Creek
IN Comet Ridge GAS - ? OIL — Tow Creek
Slide 20: Planned Activity 2005
IN Comet Ridge ned Activity 2005 Q3 at | Q4- $ — Va
Slide 21: Capital Structure
IN tal Stru ctu ! Comet Ridge ASX code: COl Issued shares: 61.2m shares Issued options: 6.4m 3yr 20¢ options Market cap: $10 million Cash: ~$ 5 million* Top 20: 52% Shareholders; 486 —
Slide 22: Disclaimer
_&, ., | isclaimer. Comet Ridge Limited has taken all reasonable care in producing the text and images contained on this presentation but does not warrant that the information contained herein is accurate or up to date. The information on these slides is based on publicly available information, inte