Comet Ridge Ltd · ASX:COI
Comet Ridge — Galilee Basin Coal & Energy Conference, Brisbane 2012
24 slides from Comet Ridge's conference presentation, Nov 13, 2012
Slide 1: Galilee Programme Update
For personal use only Galilee Basin Coal & Energy Conference, Brisbane Comet Ridge Limited Galilee Programme Update 13 November 2012 Tor McCaul Managing Director www.cometridge.com.au ASX Code : COI www.cometridge.com.au
Slide 2: Contents
For personal use only Contents 1. Company Overview 2. Technical 3. Commercial 4. Community ASX Code : COI www.cometridge.com.au 2
Slide 3: Company Overview
For personal use only Company Overview ASX Code : COI www.cometridge.com.au 3
Slide 4: Comet Ridge – Corporate Overview
For personal use only Comet Ridge – Corporate Overview Capital structure (ASX:COI) 12 month share price performance Share price (as at 12-Nov-12) $0.17 $0.200 20,000 Shares on issue 402.1m $0.175 Unlisted options 2.5m $0.150 15,000 Performance rights 6.6m $0.125 Undiluted market capitalisation1 $68.
Slide 5: Introduction
For personal use only Introduction Large acreage position and significant resource base established particularly in Eastern Galilee Basin ― Corporate focus on conversion to reserves ― Galilee Basin over 13,000 km2 and 100% equity ― New Galilee Basin farm-in to expand position further ― Mahalo bloc
Slide 6: Net Gas Resources
For personal use only Net Gas Resources Significant independent Resource bookings in four areas Galilee Basin Contingent Resource - 68% of company total Following the completion of current NSW transaction – 5400 PJ resources East Aus Comet Ridge Limited – Net Recoverable Resources COI Continge
Slide 7: Technical
For personal use only Technical ASX Code : COI www.cometridge.com.au 7
Slide 8: Galilee Basin – background
For personal use only Galilee Basin – background Large area covering a large part of central western Queensland ― Approx 250,000 km2 Overlain by Eromanga Basin and underlain by Drummond Basin Key towns include Longreach, Barcaldine, Blackall, Winton, Hughenden and particularly for Comet Ridge,
Slide 9: Comet Ridge Position
Comet Ridge Position Comet Ridge blocks ATP 743P & 744P For personal use only ― 12,991 km2 (3.2 million acres) ― 286 km from NW to SE corner ― Comet Ridge equity 100% - full upside exposure Eastern basin selected ― Coals range from shallow to deep (east to west) ― Eastern edge closer to largest
Slide 10: Technical Understanding Growing
Technical Understanding Growing 2009 Sep/Oct - Blocks awarded For personal use only ― including Qld Govt environmental approvals 2010 - five core holes drilled ― Total drilled section 5000m with 1000m core ― Coal thickness from 16m to 24m with up to 22m shale 2011 - 252 km 2D seismic survey ―
Slide 11: Galilee Basin – Greater Gunn Project Area
For personal use only Galilee Basin – Greater Gunn Project Area Initially SW part of ATP 744P Recent drilling at Schmitt 1 in Farm-in Area shows easterly extension 1,870 PJ of 3C Contingent Resource certified in 2010 with considerable upside Three-well drilling programme ― One production tes
Slide 12: Commercial
For personal use only Commercial ASX Code : COI www.cometridge.com.au 12
Slide 13: 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 Gladstone LNG schemes have significantly shifted the market dynamic for gas in Eastern Australia ― LNG schemes
Slide 14: Market
For personal use only Market LNG manufacturers have insufficient gas for expansion Takeovers of Eastern Star Gas and Bow Energy means four large LNG consortia control almost 90% of 2P CSG gas reserves in Eastern Australia This will put intense pressure on domestic gas supply Resultant intens
Slide 15: 2P Gas Reserves Consolidation
For personal use only 2P Gas Reserves Consolidation Concentration of Ownership: LNG Proponents 89% AGL 7% Other 4% Acquisition of ESG and Bow have continued the trend of Gas Reserves consolidation in CSG ASX Code : COI www.cometridge.com.au 15
Slide 16: 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 East Australian Total • COI is well positioned to start the conversion of Contingent Resources to
Slide 17: Galilee Basin – Commercial Options
Galilee Basin – Commercial Options For personal use only Different market segments emerging for commercial development options ― Coal mine users ― Power producers ― LNG market Coal Mining Projects ― Other domestic/industrial consumers Adani Vale Stage 1 Development: Power for Coal Waratah Coal M
Slide 18: Community
For personal use only Community ASX Code : COI www.cometridge.com.au 18
Slide 19: Responsible CSG Exploration & Development
Responsible CSG Exploration & Development For personal use only CSG industry has been operating in Queensland for >15 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 es
Slide 20: Galilee Basin – Community
For personal use only Galilee Basin – Community Cultural Heritage Management Plans successfully in place with three groups Galilee Basin Operators Forum undertaking detailed basin-wide aquifer study ― www.gbof.com.au Engagement and information sharing with local councils is ongoing ― Central W
Slide 21: East Galilee Basin – Production Well Design
East Galilee Basin – Production Well Design For personal use only ASX Code : COI www.cometridge.com.au
Slide 22: Case Study: Wells & Agriculture Can Co-exist
Case Study: Wells & Agriculture Can Co-exist For personal use only Qld NSW Texas Area („000 sq km) 1,731 802 696 Gross Farm Product* ($Bn) 9.1 8.3 9.7 Petroleum Wells 7,000 249 218,556 *Source: ABS 1367.0 State and Terr Stat Indicators for 2009/10; 2009 Texas Agriculture Statistics, USDA Source APPE
Slide 23: Important Notice and Disclaimer
For personal use only Important Notice and Disclaimer Disclaimer 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 24: Comet Ridge Limited
Comet Ridge Limited For personal use only www.cometridge.com.au Level 1 283 Elizabeth Street Brisbane 4000 & GPO Box 798 Brisbane 4001 Telephone: +61 7 3221 3661 Facsimile: +61 7 3221 3668 Email: info@cometridge.com.au ASX Code : COI www.cometridge.com.au 24
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