Slide 1: Comet Ridge Limited - Noosa Mining Conference 2017
For personal use only Comet Ridge Limited (ASX:COI) Noosa Mining Conference 2017 Tor McCaul Managing Director www.cometridge.com.au 20 July 2017 ASX Code : COI www.cometridge.com.au
Slide 2: Comet Ridge Limited
Comet Ridge Limited For personal use only ▪ ASX listed - based in Brisbane ▪ Focus on natural gas in eastern Australia ▪ Multi-basin presence ✓ Southern Bowen (Mahalo) - Queensland ✓ Galilee - Queensland ✓ Gunnedah - NSW ▪ Coal Seam Gas (CSG) Pilot schemes running at the Mahalo Gas Project with init
Slide 3: Corporate Overview
Corporate Overview For personal use only Capital Structure – ASX: COI 12 Month Share Price Performance 0.20 4,000 Share price (19 July 2017) $0.135 0.16 3,000 Shares on issue 617.7m Share Price - $A Volume - '000 0.12 Performance rights 5.0m 2,000 0.08 Diluted market cap $84.1m 1,000 0.04 Cash (30 J
Slide 4: 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 Sandstone Gas 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 2P 3
Slide 5: Eastern Australia – State of Play
Eastern Australia – State of Play For personal use only ▪ Substantial green activism to gas despite the significant contribution gas makes to the national economy ▪ Some states and territories – LIMITING supply as demand INCREASES dramatically ! ▪ Queensland and South Australia have been blessed wit
Slide 6: Mahalo Project
Mahalo Project For personal use only ASX Code : COI www.cometridge.com.au
Slide 7: Mahalo Production Performance
Mahalo Production Performance ▪ Overall performance of ▪ Two of three vertical wells For personal use only horizontal well and Mahalo brought on line in 2016, Pilot has been very with Mahalo 4 free flowing pleasing ▪ Scale up of short Mahalo 7 ▪ Gas flowrate 426mcfd from ▪ Water rate is low leading
Slide 8: Mahalo – Comet Ridge Managing Subsurface Work
Mahalo – Comet Ridge Managing Subsurface Work For personal use only ▪ Executed agency agreement with ATP 1191 Mahalo Block Santos for Comet Ridge to manage Comet Ridge 40% next phase announced 3 April APLNG 30% Santos 30% ▪ Target on moving 3P reserves to 2P – COI 219 PJ (3P)+ & 112 PJ (1C)+ ▪ Progr
Slide 9: Mahalo Development Concept
Mahalo Development Concept For personal use only Significant analysis work completed – examining the most efficient and effective way to move the northern pilot schemes into production via available export pipeline capacity and field infrastructure Three Step Process: 1. Conversion of existing 3P to
Slide 10: Galilee Basin
Galilee Basin For personal use only ASX Code : COI www.cometridge.com.au
Slide 11: Galilee Basin – Significant Scale
Galilee Basin – Significant Scale Background For personal use only ▪ Large area (~250,000km2) covering a big part of central western Queensland ▪ Land use is grazing – cattle and sheep on large stations ▪ Historical exploration - oil recovered and gas flows ▪ Recent basin-wide focus on CSG ▪ Single-
Slide 12: Galilee Basin – Sandstones
Galilee Basin – Sandstones Koburra Trough For personal use only ▪ 3 historic petroleum wells within ATP 743 and ATP 744 recovered gas and/or oil from Lake Galilee Sandstone at base of Galilee Basin section – all now in Comet Ridge acreage ▪ Koburra 1, Carmichael 1 and Lake Galilee 1 flowed gas to 12
Slide 13: CSG – Gunn Project Area
CSG – Gunn Project Area For personal use only Gunn Project Area ▪ 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 excellent permeability within target coals ▪ Gunn-2 Production Test ▪ perforated sin
Slide 14: Galilee Basin – Forward View
Galilee Basin – Forward View ▪ Comet Ridge Work Programme to be funded by gas For personal use only pre-sale or equity farm-in – process is currently underway ▪ A structurally short east coast market will need to look to the Galilee Basin for gas volume – this is already occurring ▪ Comet Ridge’s ea
Slide 15: 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
Slide 16: 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 17: Competent Person Statement and ASX Listing Rules Chapter 5
For personal use only Important Notice and Disclaimer 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)