Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2011)
27 slides from Comet Ridge's shareholder meeting presentation, Nov 10, 2011
Slide 1: Chairman & Managing Director's Presentation - Annual General Meeting
For personal use only Chairman & Managing Director’s Presentation Annual General Meeting 10 November 2011 - Brisbane www.cometridge.com.au ASX Code : COI www.cometridge.com.au
Slide 2: Contents
Contents 1. The Industry For personal use only Export LNG Domestic Power Gas Pricing & Volumes Regulation Conclusions Further Information 2. Comet Ridge Limited Area of Operations Comet Ridge Strategy Key Achievements Galilee Basin Bowen Basin Gunnedah Basin New Zealand USA Activities Scheduled - 20
Slide 3: Section 1: The Industry
For personal use only Section 1 The Industry ASX Code : COI www.cometridge.com.au 3
Slide 4: Export LNG
For personal use only Export LNG Three large LNG schemes are now under construction on Curtis Island near Gladstone, with a fourth project likely At least five processing trains will produce over 20 Million tonnes per annum of LNG, commencing in 2014, with incremental project economics driving f
Slide 5: Domestic Power
Domestic Power For personal use only Gas is the cleaner base load alternative to coal Natural Gas is currently supplying nearly 20% of Queensland’s power needs ― This proportion is likely to increase significantly New gas fired power plants recently announced for Ipswich and Gladstone ― Up to
Slide 6: 2P Gas Reserves Consolidation
For personal use only 2P Gas Reserves Consolidation Concentration of Ownership: LNG Proponents 89% AGL 7% Other 4% Acquisitions of ESG and Bow have continued the trend of Gas Reserves consolidation in CSG ASX Code : COI www.cometridge.com.au 6
Slide 7: 3C Gas Resources by Company
For personal use only 3C Gas Resources by Company Concentration of Ownership: LNG Proponents 74% Comet Ridge 5% Other 21% Comet Ridge has a material and expanding 3C Resource position with approx. 5% of E. Aust Total • COI is well positioned to start the conversion of Contingent Resources to 2P Rese
Slide 8: Gas Pricing & Volumes
For personal use only Gas Pricing & Volumes Historically, Eastern Australia has had some of the cheapest gas in the world ― Due to relatively small market size in comparison to reserves ― Cheap gas and cheap coal resulted in cheap electricity Gladstone export LNG schemes have significantly shift
Slide 9: Responsible CSG Development
Responsible CSG Development For personal use only CSG industry has been operating in Queensland for >10 years CSG industry in Eastern Australia is one of the most heavily regulated industries in Australia ― APPEA suggests more regulated than the nuclear industry ― Queensland has established sign
Slide 10: Conclusions
For personal use only Conclusions We believe LNG manufacturers have insufficient gas for expansion Successful takeovers of Eastern Star Gas and Bow Energy will result in four large LNG consortia controlling almost 90% of 2P gas reserves in eastern Australia This will put intense pressure on do
Slide 11: Further Information
For personal use only Further Information Many unsubstantiated claims and myths exist in the media about CSG exploration and production Comet Ridge believes each stakeholder should form their own views based on facts and should ask for claims to be substantiated Comet Ridge recommends the foll
Slide 12: Section 2: Comet Ridge Limited
For personal use only Section 2 Comet Ridge Limited ASX Code : COI www.cometridge.com.au 12
Slide 13: Area of Operations
For personal use only Area of Operations ASX Code : COI www.cometridge.com.au 13
Slide 14: Comet Ridge Strategy
For personal use only Comet Ridge Strategy Maximise shareholder leverage to exploration upside through exposure to projects in the early phase of the exploration cycle Take material equity positions in key Coal Seam Gas basins ― COI has material positions in the Bowen, Gunnedah and Galilee Basin
Slide 15: Key Achievements - past months
Key Achievements - past 12 months COI announced sale of 5% of Mahalo block to Stanwell for $7 million For personal use only ― Stanwell to carry COI through A$8m of expenditure, with option to purchase additional interest ― Transaction expected to conclude this month Maiden dividend received from
Slide 16: Galilee Basin – ATP 743P & ATP 744P
Galilee Basin – ATP 743P & ATP 744P 100% interest in both ATP 743P & For personal use only ATP 744P in eastern Galilee Basin ― Substantial acreage position covering 12,991 km2 1,870 PJ of 3C Contingent Resource certified in Gunn Project Area in Nov 2010 ― Considerable upside in ATP 744P still un
Slide 17: Galilee Basin – Commercial
Galilee Basin – Commercial For personal use only Two stage approach to commercialisation of COI’s Galilee Gas Resources ― Stage 1: Power supply to nearby coal mines or electricity network Coal Mining Projects ― Stage 2: Gas supply to Gladstone Stage 1: Power demand per coal mining Adani project
Slide 18: Galilee Basin – Stakeholders & Community
For personal use only Galilee Basin – Stakeholders & Community Galilee Basin Operators Forum undertaking detailed basin aquifer study ― www.gbof.com.au Engagement and information sharing with local councils is ongoing ― Co-ordinated by Central West Remote Area Planning & Development Board Inte
Slide 19: Bowen Basin – ATP 337P Mahalo
For personal use only Bowen Basin – ATP 337P Mahalo Recently announced sale of 5% to Stanwell Corporation for $7 million ― Further carry through A$8m in expenditure ― Option for Stanwell to buy further equity, based on 2P reserves booked as at 31 Dec 2013 First Pilot well due to commence drillin
Slide 20: ATP 337P Mahalo Agreement with Stanwell
ATP 337P Mahalo Agreement with Stanwell On 30 Sept 2011 COI announced binding Agreement with Stanwell Corporation for the sale of For personal use only COI’s 40% interest in ATP 337P Mahalo: ― The sale of an initial 5% interest in ATP 337P Mahalo for $7 million; ― The grant of an option to acquire
Slide 21: Gunnedah Basin – PEL 427 & PEL 428
For personal use only Gunnedah Basin – PEL 427 & PEL 428 40% interest in PEL 428 in the northern Gunnedah Basin ― Substantial acreage position covering 13,028 km2 ― COI interest increased from 20% in April 2011 after acquiring additional 20% 231 PJ of Contingent Resources certified in March 2011
Slide 22: New Zealand Blocks
For personal use only New Zealand Blocks NZ tenement portfolio consists of 100% interest in three permits covering 8,600 km2 244 PJ of 3C Contingent Resources certified in Greymouth Coalfields in September 2011 (PMP 50100 / PEP 50279) Interpretation and integration of airborne survey data near
Slide 23: New Zealand - Commercial
New Zealand - Commercial Gas pipeline to Auckland passes through key For personal use only West Coast focus area within permit PEP 50280 Electricity Transmission Gas fired power stations to north and south Network ― 1,450 MW capacity at Huntly (30km south) ― 400 MW capacity in Auckland (40km nor
Slide 24: USA – Comet Ridge Resources LLC
For personal use only USA – Comet Ridge Resources LLC COI has a 17.257% equity interest in Comet Ridge Resources LLC (CRR) US$3.5 million dividend paid to Comet Ridge Limited in June 2011 Oil production from Florence oilfield has been significant during 2011 ― 440,000 CRR gross barrels produce
Slide 25: Activities Scheduled - 2012
Activities Scheduled - 2012 Galilee Basin: ATP 743P & ATP 744P For personal use only ― Complete interpretation of 2D seismic to better understand structure in Gunn Project Area ― Drill two to four wells in Q2/Q3 in Gunn Project Area to help locate optimal Pilot location for 2013 ― Continue plannin
Slide 26: General Disclaimer
For personal use only General Disclaimer This document has been prepared by Comet Ridge Limited to provide existing and prospective investors in Comet Ridge Limited with an update on the Company and its operations. This presentation, including the information contained in this disclaimer, does n
Slide 27: Comet Ridge Limited
Comet Ridge Limited For personal use only www.cometridge.com.au Address Directors Level 1 James McKay 283 Elizabeth Street Non-executive Chairman Brisbane Queensland 4000 Tor McCaul Managing Director Telephone: +61 7 3221 3661 Gillian Swaby Facsimile: +61 7 3221 3668 Non-executive Director Email: in