Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2021)
21 slides from Comet Ridge's shareholder meeting presentation, Nov 16, 2021
Slide 1: 2021 Annual General Meeting Managing Director's Presentation
For personal use only COMET RIDGE LIMITED 2021 Annual General Meeting Managing Director’s Presentation 16 November 2021
Slide 2: Important notice and disclaimer
COMET RIDGE | A compelling east coast gas play Important notice and disclaimer For personal use only Disclaimer Future performance This presentation (Presentation) has been prepared by Comet Ridge Limited (ABN 47 106 092 577) (Comet This Presentation contains certain “forward-looking statements”. Fo
Slide 3: Agenda
COMET RIDGE | A compelling east coast gas play For personal use only Agenda 1. Development of Mahalo Gas Hub 2. Securing Galilee Basin permits 3. Gas Markets 4. Key Highlights Appendices: A. Corporate overview B. Director profiles C. Certified Reserves and Resources D. Competent Person Statement Pag
Slide 4: Mahalo Gas Project
COMET RIDGE | A compelling east coast gas play Mahalo Gas Project For personal use only Significantly appraised project Strong project • 20+ CSG appraisal wells fundamentals • Mira pilot flowed 1.4MMcfd from established 924m in coal • Longer development wells to be drilled (target > 2 MMcfd) Certifi
Slide 5: Funded acquisition of APLNG's 30% interest in Mahalo Gas Project
COMET RIDGE | A compelling east coast gas play Funded acquisition of APLNG’s 30% interest in Mahalo Gas Project For personal use only Transformational acquisition built on compelling metrics and Mahalo JV alignment Comet Ridge has executed a binding agreement to acquire APLNG’s 30% interest in the M
Slide 6: Mahalo North appraisal program
COMET RIDGE | A compelling east coast gas play Mahalo North appraisal program For personal use only Appraisal of 100% Dual lateral designed to show owned Mahalo North Initial drilling results are production potential of block (ATP 2048) very encouraging development-length wells in underway shallow,
Slide 7: Mahalo North work program – results to date
COMET RIDGE | A compelling east coast gas play Mahalo North work program – results to date For personal use only Mahalo North 1 • Drilled to 314m, intercepted a net coal package of 9.03m Vertical well • Short downhole flow test measured permeability of 250 millidarcies (md) in the combined Castor Po
Slide 8: Mahalo Gas Hub – driving to development
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub – driving to development For personal use only Acquisition of APLNG’s Mahalo interest* provides platform to unlock the large Mahalo Gas Hub Appraisal of 100% owned Mahalo North and East blocks expected to provide additional reserves f
Slide 9: Agenda
COMET RIDGE | A compelling east coast gas play For personal use only Agenda 1. Development of Mahalo Gas Hub 2. Securing Galilee Basin permits 3. Gas Markets 4. Key Highlights Appendices: A. Corporate overview B. Director profiles C. Certified Reserves and Resources D. Competent Person Statement Pag
Slide 10: Secure Galilee Basin permit tenure
COMET RIDGE | A compelling east coast gas play Secure Galilee Basin permit tenure For personal use only Galilee Basin is one of three Comet Ridge has a large 2C basins central to Federal Govt and 3C gas resource position gas-led economic recovery in the shallow coals and plan sandstone deeps The pro
Slide 11: Agenda
COMET RIDGE | A compelling east coast gas play For personal use only Agenda 1. Development of Mahalo Gas Hub 2. Securing Galilee Basin permits 3. Gas Markets 4. Key Highlights Appendices: A. Corporate overview B. Director profiles C. Certified Reserves and Resources D. Competent Person Statement Pag
Slide 12: Global gas prices are rising and becoming more volatile
COMET RIDGE | A compelling east coast gas play Global gas prices are rising and becoming more volatile For personal use only Page 12 Source: EnergyQuest analysis, Platts, CME Group
Slide 13: Domestically, gas is a 'go-to' energy source
COMET RIDGE | A compelling east coast gas play Domestically, gas is a ‘go-to’ energy source For personal use only East coast demand has held up well, even with lower gas-fired power generation East coast gas prices are firming, but with more volatility – gas is a ‘go to’ energy source when deman
Slide 14: Agenda
COMET RIDGE | A compelling east coast gas play For personal use only Agenda 1. Development of Mahalo Gas Hub 2. Securing Galilee Basin permits 3. Gas Markets 4. Key Highlights Appendices: A. Corporate overview B. Director profiles C. Certified Reserves and Resources D. Competent Person Statement Pag
Slide 15: Key highlights
COMET RIDGE | A compelling east coast gas play Key highlights For personal use only 1 Comet Ridge deal with APLNG unlocks Mahalo Gas Project 2 Significant increase in Comet Ridge 2P and 3P Gas Reserves on completion, on favourable metrics 3 JV partner Santos providing a loan package to fund the upfr
Slide 16: Appendices
For personal use only Appendices
Slide 17: Corporate overview
COMET RIDGE | A compelling east coast gas play Corporate overview For personal use only COI Share Price and Volume - last 12 months Share price Market capitalisation $0.16 16m A$0.13 $112m $0.14 14m 15 Nov 2021 $0.12 12m $0.10 10m Shares on issue Performance rights 860m 5.0m* $0.08 8m $0.06 6m $0.04
Slide 18: Directors
COMET RIDGE | A compelling east coast gas play Directors For personal use only James McKay Tor McCaul Gillian Swaby Chris Pieters Martin Riley Shaun Scott Non-exec Chairman Managing Director Non-Exec Director Executive Director Non-Exec Director Non-Exec Director • 30+ years in business • Petroleum
Slide 19: Certified Gas Reserves and Contingent Resources
COMET RIDGE | A compelling east coast gas play Certified Gas Reserves and Contingent Resources For personal use only Comet Ridge Limited (PJ's) Gas Reserves Contingent Gas Resources Mahalo Gas Project, Bowen Basin (QLD) 1 1P 2P 3P 1C 2C 3C COI current 40% interest 0 106 183 53 89 154 Post Acquisitio
Slide 20: Competent Person Statement
COMET RIDGE | A compelling east coast gas play Competent Person Statement For personal use only Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The estimate of Reserves and Contingent Resources for the Mahalo Gas Project provided in this Presentation,
Slide 21: For more information
For personal use only FOR MORE INFORMATION Telephone: +61 7 3221 3661 Email: info@cometridge.com.au Level 3, 410 Queen Street Brisbane Queensland 4000 cometridge.com.au