Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2009)
24 slides from Comet Ridge's shareholder meeting presentation, Nov 11, 2009
Slide 1: Managing Director's Presentation Annual General Meeting
For personal use only Comet Ridge Limited Managing Director’s Presentation Annual General Meeting 11 November 2009 Stamford Plaza Hotel, Brisbane
Slide 2: Contents
Contents 1 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 3: Share Price Summary
Share Price Summary 2 For personal use only COI Share Price Performance vs ASX S&P All Ords Index 14 November 2008 to 5 November 2009 8.00 7.00 6.00 Merger Announced 5.00 4.00 Market Capitalisation = $119.9 million 3.00 Shares on Issue = 307.4 million Cash at 30 October = $23 million 2.00 1.00 0.00
Slide 4: Contents
Contents 3 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 5: Achievements
Achievements 4 For personal use only > Coal Seam Gas growth strategy executed including merger with Chartwell Energy Limited, cash injection and revitalised Board > CSG portfolio expanded via Chartwell’s three New Zealand blocks > Queensland base and team established > $21.3 million capital raising
Slide 6: Achievements (cont.)
Achievements (cont.) 5 For personal use only > Both large Galilee blocks awarded and drilling commencing on eight core wells > Mahalo and Gunnedah projects advanced via three further wells > Greymouth (New Zealand) farm-in progressed with well drilling currently underway > No health and safety or en
Slide 7: Contents
Contents 6 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 8: Galilee Basin
Galilee Basin 7 > Two blocks (ATP’s 743P & 744P) in the For personal use only Galilee Basin in central QLD > Comet has 100% equity in both > Large position – 13,000 km2 (0.7% of QLD) > Focused on eastern flank of basin, where coals sub-crop and dip down to approximately 1,300 metres > Native title a
Slide 9: Galilee Basin (cont.)
Galilee Basin (cont.) 8 For personal use only > Approximately 500 kilometres to regional LNG hub at Gladstone > Blocks in close proximity to electricity transmission infrastructure to access the National Electricity Market > Significant coal mining developments will improve regional infrastructure
Slide 10: Galilee Basin (cont.)
Galilee Basin (cont.) 9 For personal use only Drilling Program Objectives: > Confirm coal thickness, depth and continuity > Quantify gas content at various depths > Quantify coal permeability at various depths > Obtain water samples from Betts Creek coals > Better understand Basin depositional archi
Slide 11: Contents
Contents 10 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 12: Mahalo
Mahalo 11 For personal use only > Located central eastern QLD, near Rolleston > Covers 1,100 km2 > Comet Ridge holds 40% with Santos (operator) and Origin 30% each > Close to pipeline infrastructure (to Gladstone) > Coals proven to be gas bearing > Comet Ridge considers permit to have good CSG prosp
Slide 13: Contents
Contents 12 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 14: Greymouth (NZ)
Greymouth (NZ) 13 For personal use only > PMP50100 – Greymouth block: > Located on the South Island near the city of Greymouth > Covers 170 km² > First CSG mining permit in NZ > Farming-in via a two stage exploration and appraisal program to secure 50% interest > Stage 1 completed – earned 20% inter
Slide 15: Greymouth (NZ) (cont.)
Greymouth (NZ) (cont.) 14 For personal use only > Plans to have two pilot wells drilled 1Q 2010 > Power generation may be the most commercially attractive use of gas in West Coast region given regional power needs and proximity to infrastructure > Power generation could be staged to grow with gas pr
Slide 16: Contents
Contents 15 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 17: Gunnedah Basin
Gunnedah Basin 16 For personal use only > Located in Northern NSW > PEL’s 427 & 428 > Comet holds 25% and 20% interest in PEL 427 and PEL 428 respectively. Eastern Star Gas now farmed-in as CSG operator > Moree 4 well encountered 5 metres of net coal > Kurrabooma 1 well encountered 4 metres of net c
Slide 18: Contents
Contents 17 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 19: New Zealand Exploration Blocks
New Zealand Exploration Blocks 18 For personal use only > PEP 50279 – Buller Block > Located NE of Greymouth block > 4,779 km² > Recently relinquished part of the block to concentrate on prospective areas > Painkiller Creek-1C exploration well drilled in March 2009 > Aeromagnetic survey commencing >
Slide 20: Contents
Contents 19 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 21: United States of America
United States of America 20 For personal use only > Company maintains a 20% equity position in Grays Harbor Denver based Comet Ridge Resources, LLC > CRR managed by ex-Comet Ridge Limited MD > Private equity firm Pine Brook Road Partners, LLC and management own and fund other 80% > CRR focused on oi
Slide 22: Contents
Contents 21 For personal use only 1. Share Price Summary 2. Achievements 3. Galilee 4. Mahalo 5. Greymouth 6. Gunnedah 7. New Zealand Exploration Blocks 8. United States 9. Coming Year
Slide 23: Coming Year
Coming Year 22 For personal use only > Eight well Galilee Basin core well program to better define the in-place gas resource and provide data ahead of pilot(s) > Greymouth core hole and pilot project and commencement of gas marketing effort > Mahalo core well leading onto pilot scheme > Further expl
Slide 24: Disclaimer
Disclaimer 23 For personal use only 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 not consti