Comet Ridge Ltd · ASX:COI
Comet Ridge — Investor Presentation (September 2006)
24 slides from Comet Ridge's investor presentation, Sep 5, 2006
Slide 1: iii
a iii
Slide 2: Listed on the ASX April 2004 - Code COI
ASX Code: CO! Listed on the ASX April 2004 — Code COl Shareholders highly leveraged to success 4 “Company Maker’ projects 9 wells planned for 2006 ~16,500 sq km net under lease or option Management team in place Significant capacity for further growth 70.5 million shares on issue AUD $3.2 million ca
Slide 3: Company Information
Company Infor Top 5 Shareholders Holder %o Strike OF . 6.9 ANZ Nominees 6.4 ~.GHI Swaby . 3.8 JP- Morgan Nominees. 3.5 S&Y Ashton 3.4, Share Price History: Total 25.9 Capital Structure ASX code: Col Listed: Aprit 2004 - Issued shares: .70.5.million Issued options: “9.0 million* Market cap: $25 milli
Slide 4: Generate and secure projects offering significant upside
¢ Generate and secure projects offering significant upside to shareholders ¢ Balanced portfolio — oil & gas — conventional & unconventional reservoirs * “Own the Play” and operate where feasible ¢ Maintain significant interests ¢ Australian and USA focus ¢ Manage opportunities with experienced staff
Slide 5: Rapid Transit: Year Ago vs Now
‘RAPID TRANSIT 1 Year Ago Now Area of Activity Australia (QLD) Australia & USA Type CSG CSG & Conventional Major Projects 2 6 Operated 0 3 Personnel 2 10 Cash $2.3 million $3.2 million Stock Price $0.09 to $0.1 >$0.30 Market Cap $6 million ~$25 million SS yw Comet Ridge
Slide 6: Screening Parameters
Screening Paran * Overlooked areas _ow levels of activity Proven hydrocarbon system nfrastructure ¢ Control large acreage positions Low cost of entry ¢ Technology application ASX Code: CO! Good Ol Corfererice September, 06 yw Comet Ridge
Slide 7: Project portfolio structure and interests
Last 12 mo. | St. Helens Energy LLC (Washington Company) ASX Ol ie Comet Ridge USA, Inc (Delaware Company) ¥ Region Rockies / Project : Project.- al ._ Bear River.°-' |. Tow Creek 20,000 ai 4,000 ac : 7,000 ac 40% WI 100% WI 33.75% WI 37.5% WI Cascadia Op St Helens Op. Comet Ridge Op. Comet Ridge Op
Slide 8: Cedar Creek & Vader Ryderwood, Tow Creek & Bear River
Cedar Creek & Vader Ryderwood Tow Creek & Bear River IN Comet Ridge sod OW Confererice Sep! mber, 06
Slide 9: SO IN
SO IN Comet Ridge
Slide 10: Routt County, N. Colorado
Routt County, N. Colorado ~-11,000 acres (~45 sq km) under lease Comet Ridge 33 to.37.5% (Op) 78%+ NRI leases Historic oilfield redevelopment Major anticline —.125.sq km Oil in fractured Niobrara Fm. shales Numerous drillable locations Deepening and workover candidates - 100 to 500 mBO per well : US
Slide 11: Grays Harbor
Grays Harbo yw Comet Ridge ood ON Corfere:
Slide 12: Grays Harbor
Grays Harboe +-Western Washington State + Lightly explored proven oil & gas basin +. Conventional-oil and gas +2 year. 420,000 acre (~1,700 sq km) lease option : +> Comet Ridge 100% (Op) + Attractive lease terms ~~ + ~One land & mineral owner +.” Landowner:can participate up to 15% +> Prospect and l
Slide 13: Comet Ridge
Comet Ridge od OH Confer
Slide 14: Cedar Creek, Southern Washington State
Cedar Cree aay | ae ee er 7 Emilee Pope Talbot - | 15,000 acres 13 xploration Bipck | initial 100,000 acres OSS od Oi Corte: Southern. Washington State. ., Lightly explored oil. and.gas bearing basin Coal seam gas (Powder River Basin analogue) <1000 metres. : 130,000 acres (6525 sq km) jeased_or opt
Slide 15: USA Strategy
USA Strategy / Str * Significant land position — >550,000 acres (2,225 sq km) * USA petroleum experience — MD > 15 years & staff >100 years total * Operator — Three new joint ventures * Strong US energy prices — Gas: ~US$7-8/mcf in Summer - >$11/mcf in Winter — Oil: ~US$60/bbI * USA govt priority —
Slide 16: Australian projects, permits and equity
Project Permit == Target — Equity _ Mahalo ATP 337P. Coal seam gas 40% Tipton West ATP683P Coalseam gas 1.5% royalty ATP 689P Coalseam gas 1.5% royalty Galilee Basin ATP 743P (A) Coal seam gas 100% ATP 744P (A) Coal seam gas 100% Gunnedah Basin PEL 427 Conventional gas 25% PEL 428 Conventional gas 2
Slide 17: Mahalo project
Prepare Saas Alte . Santo ¢ Major project « Permian coal seams * Key infrastructure * Earned 40% (non operator) « Gas resource: 180 — 990 BCF * Mahalo 2 drilled Comet Ridge nese ned OH Confer: ASX Coc
Slide 18: Divestment of interest, retained royalty
yin 7 NII * Divested minority, non- operated, interest * Cash proceeds $4.8 million * Retain a 1.5% gross royalty* * Development drilling well under way « First gas sales (and cash flow to Comet Ridge) expected for early 2007 yw Comet Ridge “Capped @ $8MM OSS od Oi Corte:
Slide 19: Galilee Basin ATPs
ATP 743 - 6,482 sq km ATP 744 — 6,523 sq km Comet 100% equity in both ATP'’s Grant subject to Native Title process sar to commence By early 2007 All wells drilled within the ATP’s had oil and gas shows CBM potential in shallow Permian Oil potential in the deeper Permian yw Comet Ridge
Slide 20: Gunnedah Basin PELs
* PEL 427 —7,010 sq km (COI 25%) * PEL 428 —6,021 sq km (COI 20%) * Gunnedah Basin * Conventional gas potential * Comet carried through upcoming seismic and drilling + Eastern Star operator yw Comet Ridge Ol Confere:
Slide 21: Market Capitalisation of Australian Explorers active in the USA
Ol Market Cap AUDS$millions Market Capitalisation of Australian Explorers active in the USA Company Currently ranked #18, COI controls 4 company maker projects plus additional exploration acreage with an active drilling program for 06/07 wa mS Comet Ridge ned OH Confer:
Slide 22: Value Proposition
Value Propos ¢ Leverage! AUD$25 million market cap « Proven management team in place (US & Aust) ¢« Oil and Gas ¢« 4 company maker projects * High equities in all projects * Operator of most projects * High level of activity in 2006 - 2007 ¢ Cash-flow and reserves this year * Significant reserve pot
Slide 23: Contact details
DENVER OFFICE CORPORATE ADDRESS Contact: — Andy Lydyard Address. Level 9, Wesfarmers House Managing Director 40 The Esplanade Perth WA 6000. Address: 600, 17th Street, Suite 600-S. Denver, CO 80262-5402 Telephone: +61 (0) 8 6464 0499 Facsimile: +61 (0) 8 6464 0498 Telephone: +1.303.226.1300 Website
Slide 24: Disclaimer
Disclaime 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, internal data