Comet Ridge Ltd · ASX:COI

Comet Ridge — Investor Presentation (November 2017)

24 slides from Comet Ridge's investor presentation, Nov 3, 2017

  1. Slide 1: Investor Presentation

    For personal use only ASX: COI Investor Presentation Tor McCaul, Managing Director November 2017 ASX Code : COI www.cometridge.com.au 1

  2. Slide 2: 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

  3. Slide 3: Comet Ridge Limited

    Comet Ridge Limited For personal use only  ASX listed - based in Brisbane (ASX:COI)  Focus on natural gas in eastern Australia  Very large blocks & multi-basin presence:  Southern Bowen (Mahalo) – Queensland • Coal Seam Gas (CSG) pilot schemes running with initial 2P and 3P reserves  Galilee –

  4. Slide 4: Corporate Overview

    Corporate Overview For personal use only Capital Structure – ASX: COI 12 Month Share Price Performance 30 3,000,000 Share price (1 November 2017) $0.28 25 2,500,000 Share Price - cps Shares on issue 617.7m 20 2,000,000 Volume Performance rights 5.0m 15 1,500,000 10 1,000,000 Diluted market cap $173.

  5. Slide 5: Eastern Australia – More Gas Required

    Eastern Australia – More Gas Required For personal use only  Substantial green activism against gas despite the significant contribution gas makes to industry & the national economy  Some (MOST) states and territories – limiting gas supply as demand increases dramatically !  Queensland and South

  6. Slide 6: Comet Ridge – Supply Solutions

    Comet Ridge – Supply Solutions For personal use only  Comet Ridge assets can form part of the supply solution for eastern gas market  Near term – Mahalo:  Complete current programme to substantially increase 2P reserves base  Develop asset with JV partners (Santos 30% & APLNG 30%)  Medium term

  7. Slide 7: Comet Ridge - Strategic East Coast Gas Portfolio

    Comet Ridge - Strategic East Coast Gas Portfolio For personal use only +Reserve (PJ) +Contingent Resource (PJ) Type 2P 3P 1C 2C 3C CSG 67 1870 Albany Structure 56 153 417 +Reserve (PJ) +Contingent Resource (PJ) Type 2P 3P 1C 2C 3C CSG 30 219 112 232 372 +Reserve (PJ) +Contingent Resource (PJ) Type 2

  8. Slide 8: Mahalo Project

    Mahalo Project For personal use only ASX Code : COI www.cometridge.com.au

  9. Slide 9: Mahalo Production Performance

    Mahalo Production Performance  Scale up of short For personal use only JV Equity:  Overall performance of horizontal well and Mahalo Mahalo 7 horizontal Comet Ridge 40% Pilot has been very well to longer pleasing development wells is Santos 30% logical and achievable APLNG 30%  Gas flowrate 426 m

  10. Slide 10: Mahalo – Comet Ridge Managing Subsurface Work

    Mahalo – Comet Ridge Managing Subsurface Work For personal use only Target – move significant volume of 219 PJ 3P+ across to 2P by 1Q 2018 Date Description Status Mar 17 Executed agency agreement for Comet Ridge to manage subsurface work  Apr 17 Work Programme and Budget approved by Santos and APLN

  11. Slide 11: Mahalo likely to be at low end of cost curve

    Mahalo likely to be at low end of cost curve  Shallow  Mahalo Pilot only 225 metres to coal For personal use only  Lower drilling and completion costs  Permeable  Mahalo 7 flowed 1.2 mcfd gas per metre of coal intersected along horizontal well  Higher flowrates / less wells  Low water rates 

  12. Slide 12: Mira 3, 4 & 5 Under-Reaming

    Mira 3, 4 & 5 Under-Reaming  For personal use only Well production enhancement process  Coal (fractures plugged by fines) is removed from around wellbore  Provides easier pathway for gas and water to flow to well  Following under-reaming, production tubing and downhole pump run back into the wel

  13. Slide 13: Humboldt South core hole

    Humboldt South 1 core hole For personal use only  Drilled between 26 August and 6 September  Objectives achieved with zero safety incidents and within JV approved budget  Total depth of 326 metres  8.4 metres of net coal intersected through main coal intervals (consistent with thickness at other

  14. Slide 14: Mira Horizontal Well

    Mira 6 Horizontal Well For personal use only  Well spudded 2 November  Mira 6 designed to intersect existing Mira 2 vertical well through the centre of the Mira pilot scheme  Total length of horizontal well is expected to be over 1200 metres (coal depth of about 250 metres)  Objective of Mira 6

  15. Slide 15: Mahalo Development Concept

    Mahalo Development Concept For personal use only Significant concept work already completed – Comet Ridge will utilise data gathered from Exploration Work Programme to finalise pre-feasibility study Development Concept - Three Step Process: 1. Conversion of existing 3P to 2P reserve • Production enh

  16. Slide 16: Galilee Basin

    Galilee Basin For personal use only ASX Code : COI www.cometridge.com.au

  17. Slide 17: Galilee Basin – Significant Scale

    Galilee Basin – Significant Scale For personal use only  Basin covers a large part of central western Queensland (~250,000km2)  Comet has a massive position in the east portion of the Basin  Land use is grazing on very large stations  Historic oil exploration (1964 & 1995) includes gas flows fro

  18. Slide 18: Galilee Basin – Sandstone Leads & Prospects

    Galilee Basin – Sandstone Leads & Prospects Galilee Sandstone Targets For personal use only  Galilee Basin lightly explored  Previous gas flows from oil exploration wells in this area  Seismic data set is sparse  No targets (yet) in areas of no seismic  Albany has approx. 150m of gross sandston

  19. Slide 19: Sandstone Farm-out to Vintage Energy

    Sandstone Farm-out to Vintage Energy For personal use only $8.5 million farm-out programme for Vintage to earn 30% interest in Sandstone reservoir (‘Deeps’). Comet Ridge retains 100% of CSG potential  Vintage Energy to farm-in to Sandstone reservoir sequence of Comet Ridge’s ATP743, 744 and 1015 (G

  20. Slide 20: Galilee Basin - CSG

    Galilee Basin - CSG For personal use only Gunn Project area and ATP 1015 area (COI 100%) coals contain recoverable gas over an estimated 1,865 km2  6 individual coal seams  Depth to coal 700 - 1,000m  >16m net coal deposited over large area  Average gas content 4.3 m3/t (high 7.3 m3/t)  Good to

  21. Slide 21: Galilee Basin – Forward View

    Galilee Basin – Forward View  For personal use only Initial Sandstone Work Programme to be funded via Vintage farm-out  A structurally short east coast market is now looking to the Galilee Basin for gas volume  Comet Ridge’s eastern position with large gas resources will have increasing significa

  22. Slide 22: Comet Ridge - Summary

    Comet Ridge - Summary For personal use only  Mahalo  Production enhancement at Mira completed  Single step-out corehole completed  Horizontal well drilling now  Major reserves upgrade targeted 1Q 2018  Galilee  Well planning for drilling finalised  Various pipeline options under consideratio

  23. Slide 23: Contact

    For personal use only Contact Telephone: +61 7 3221 3661 Facsimile: +61 7 3221 3668 Email info@cometridge.com.au Level 3 GPO Box 798 www.cometridge.com.au 283 Elizabeth Street Brisbane 4001 ASX Code : COI Brisbane 4000 www.cometridge.com.au

  24. Slide 24: ASX Listing Rule Disclosure

    For personal use only ASX Listing Rule 5 Disclosure Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The Contingent Resource for the Albany Structure ATP 744 are taken from an independent report by Dr Bruce McConachie of SRK Consulting (Australasia) Pt

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