Comet Ridge Ltd · ASX:COI
Comet Ridge — Noosa Mining & Exploration Conference 2014
18 slides from Comet Ridge's conference presentation, Jul 17, 2014
Slide 1: Noosa Mining & Exploration Conference
www.cometridge.com.au For personal use only Noosa Mining & Exploration Conference Tor McCaul Managing Director 17 July 2014 ASX Code : COI www.cometridge.com.au
Slide 2: Comet Ridge Limited
Comet Ridge Limited Strategic CSG assets For personal use only Large 3C Resource base and equity positions Multi-basin exposure Domestic and export market opportunities Tightening east Australian gas market Focus on production Pilot schemes operating at the Mahalo Gas Project Focus on ac
Slide 3: Comet Ridge – Corporate Overview
For personal use only Comet Ridge – Corporate Overview Capital structure (ASX:COI) 6 month trading history Share price (as at 16-Jul-14) $0.15 Shares on issue 458.7m Market capitalisation1 $68.8 Cash (as at 31-Mar-14) $7.0m Enterprise value1 $61.8m Source: IRESS 1. Excludes 0.6m performance rights A
Slide 4: Net Gas Resources
For personal use only Net Gas Resources Significant independent Resource bookings in four areas Comet Ridge Limited – Net Recoverable Resources + Location Project COI Contingent Resource (PJ) Prospective Interest Resource 1C 2C 3C (PJ) Bowen Mahalo Gas Project 40%* 83 221 442 - Basin, QLD (ATP 337
Slide 5: Mahalo Gas Project – Background
Mahalo Gas Project – Background ATP 337P For personal use only Located in the Denison Trough (Bowen Basin), 240km west of Gladstone (COI 40%*, APLNG 30%, Santos 30%) Close to infrastructure linking to Gladstone LNG market with significant gas supply requirement and rising prices JV partners AP
Slide 6: Mahalo Buy Back executed March 2014
For personal use only Mahalo Buy Back executed March 2014 Comet Ridge recently announced the buy back of interests in the Mahalo Gas Project previously sold to Stanwell in 2011, increasing COI’s project interest to 40% Stanwell can elect either of the following at final investment decision as co
Slide 7: Rationale for Mahalo Buy-Back
Rationale for Mahalo Buy-Back Buying back Stanwell’s interests in the Mahalo Gas Project provides For personal use only considerable benefits to COI: Restores COI interest in Mahalo to 40% with consideration in the form of a gas sales 1 agreement or cash payment deferred until final investment dec
Slide 8: Mahalo and Mira Field Pilots
For personal use only Mahalo and Mira Field Pilots Brought on-line in April 2013 (Mahalo) and June 2013 (Mira) Returned to production testing following stimulation in January / February 2014 Mahalo Field Pilot gas production has shown continuing steady increase each week since early March Pu
Slide 9: Galilee Basin – Background
For personal use only Galilee Basin – Background Large area (~250,000km2) covering a big part of central western Queensland Overlain by Eromanga Basin and underlain by Drummond Basin Land use is grazing – cattle and sheep Oil recoveries and conventional gas flows over a number of years Per
Slide 10: Galilee Basin – Gunn Project Area
Galilee Basin – Gunn Project Area ATP 743P, ATP 744P and ATP 1015 (CSG) For personal use only 100% interest in 13,000 km2 operated by COI plus 20% interest in 825 km2 within ATP 1015 5 initial wells (2010) and 2D Seismic acquisition programme (2011) 1,870 PJ of 3C Contingent Resource and consi
Slide 11: Galilee Basin – Conventional Gas
For personal use only Galilee Basin – Conventional Gas Conventional petroleum potential 3 historic petroleum wells within ATP 743 and ATP 744P recovered oil and/or gas from Lake Galilee Sandstone at the base of the Galilee Basin Carmichael 1 flowed gas to surface on three tests from deeper sands
Slide 12: Galilee Basin – Carmichael Prospect
For personal use only Galilee Basin – Carmichael Prospect Carmichael-1 Well drilled in 1995 targeting oil with high mud overbalance Three Drillstem tests flowed gas to surface at low rates Another significant interval was not tested Well confirms sandstone prospectivity in the basin, adding
Slide 13: Galilee Basin – Commercial Options
For personal use only Galilee Basin – Commercial Options Galilee Basin market opportunities Different market segments emerging for commercial development: coal, power, LNG Development option 1: Power for coal mines / local generation Development option 2: Gas supply to LNG projects at Gladston
Slide 14: Gunnedah Basin – Background
For personal use only Gunnedah Basin – Background Large area covering central northern NSW Overlain by Surat Basin in north Land use is grazing, forestry and cropping Oil recoveries and conventional gas flows over a number of years Several working pilots in the basin Permian Blackjack an
Slide 15: Gunnedah Basin – Regional Activity
Gunnedah Basin – Regional Activity Significant investment has Gunnedah Basin permits and infrastructure For personal use only been made in the basin (ESG, Santos, EnergyAustralia) and material reserves delineated – over 1,600 PJ 2P Santos holds 55,000 km2 in NSW – COI in JV over 18,000 km2 at 22
Slide 16: Investment Highlights
For personal use only Investment Highlights Strategic Large resource and equity positions assets High priority Mahalo Project with highly productive coals close to Gladstone market Significant 3C Resource base Experienced Combines technical and commercial; CSG team and conventional; upstream
Slide 17: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer For personal use only This presentation (Presentation) has been prepared by Comet Ridge Limited (ABN 47 106 092 577) (Comet Ridge). The Presentation and information contained in it is being provided to shareholders and investors for information purposes onl
Slide 18: Contact
Comet Ridge Limited For personal use only Contact Level 3 GPO Box 798 Telephone: +61 7 3221 3661 283 Elizabeth Street Brisbane 4001 Facsimile: +61 7 3221 3668 Brisbane 4000 Email info@cometridge.com.au www.cometridge.com.au ASX Code : COI www.cometridge.com.au 18
Comet Ridge — Noosa Mining & Exploration Conference 2014 on 6ix