Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2006)
24 slides from Comet Ridge's shareholder meeting presentation, Nov 29, 2006
Slide 1: ASX Announcement: Chairman's Address and AGM Presentation
COMET RIDGE LIMITED ASX ANNOUNCEMENT 29 NOVEMBER 2006 Australian Stock Exchange Ltd Via Electronic Lodgement CHAIRMAN’S ADDRESS AND AGM PRESENTATION Please find attached the Chairman’s Address and AGM Presentation to be presented at the Annual General Meeting to be held at 3.15 pm today. Yours faith
Slide 2: Chairman's Address to the Annual General Meeting
COMET RIDGE LIMITED (ACN 106 092 577) CHAIRMAN’S ADDRESS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF COMET RIDGE LIMITED HELD AT THE UNIVERSITY CLUB HACKETT DRIVE, CRAWLEY, WESTERN AUSTRALIA ON WEDNESDAY 29 NOVEMBER 2006 In this past year your company has been working fo secure meaningful inter
Slide 3: Chairman's Address (continued): Entitlement Issue and Board
The five month delay to the commencement of drilling at Tow Creek and Bear River has been as a consequence of land access, permitting and rig availability issues. During this last year we saw the re-location of the Managing Director to Denver. The Company has also been fortunate to be able to attrac
Slide 4: Chairman's Address conclusion
550,000 acres) covering forest lands owned by a number of forest products companies in the US Pacific Northwest. In conclusion | would like to congratulate Andy and his team for being able to position the Company for an exciting future and to thank my Board colleagues for their support and energy du
Slide 5: Presentation to Investors Annual General Meeting
Slide 6: Capital Structure and Top 5 Shareholders
Date 8/14/2006 Close 0.3 Commenced Trading 19/4/04 Sale TPW. Reserves Harbor ee ASX Code: COl AGM Presentati ion 29 November, 06 Top 5 Shareholders Holder %o Strike Oi} 8.9 ANZ Nominees 6.4 Gill Swaby 3.8 JP. Morgan Nominees 3.5 S&Y Ashton 3.4 Total 25.9 Capital Structure Issued shares: .70.5 millio
Slide 7: Comet Ridge
a vn Comet Ridge ORISA NL ASX Code: CO! AGM Presentation 29 November, 06
Slide 8: Strategy
8 Strategy ® Presence ® Portfolio 29 Team 2 Organisation ® Relationships IN Comet Ridge SENN BCS TD NMEA 70 OCONEE SIRE NI e ASX Code: COL AGM Presentation 28 November, 06
Slide 9: Leverage
Leverage US focus Proven (but overlooked) basins Established infrastructure Significant interests “Own the Play” Balanced portfolio Operate Experienced people GCeCCeCeCEeceec © e SEN TST DMN 70 OCOD ELIA. ASX Code: COL AGM Presentation 2 lovember, 06 ww Comet Ridge
Slide 10: Project portfolio by entity
++ |! St. Helens Energy LLC Comet Ridge USA, Inc Comet Ridge Limited Grays Harbor ‘Bear River || TowCreck |] Florence 440,000 ac 5,000 ac 8,000 ac 40% WI 100% WI 33.75% WI 37.5% WI 26% WI 40% WI 1.5% royalty Cascadia Energy St Helens Comet Ridge Comet Ridge Comet Ridge Santos Arrow Energy 4 wells 4
Slide 11: Tow Creek & Bear River
wy Tow Creek & Bear River oan. a Conventional oil & gas” Unconventional oil / - - Comet Ridge, Strike O18 | _AJ Lucas Rocky Min AMI CSG & conventional gas wn a atau Comet Ridge ASX Code: COL AGM Presentation 28 November, 06
Slide 12: Tow Creek/Bear River Rockies
i i Denver Julesbure ey es , Tow. Creek/ oe asin Le | o Bear River cope | ® Gas Oil and gas. production from Niobrara, Pierre and Mancos Shales SERA ASX Cede: COI AGM Presentation 2 vember, 06 Rockies Widespread fractured shales Large known oil fields — Tow Creek 200 MMBO in place* Recovered 6 MMBO
Slide 13: Tow Creek drilling and nearby wells
Drilled 2004, rate oil well i Jones 1-11 470,000 bbis Grassy Ck 4 498,000 bbls SEN TST DMN 70 OCOD ELIA. ASX Code: COl Alminex 1-14... 7 756,000 bbls fF Infinity Well - Wolf Mountain 1.0 MMBO 200 BOPD. 3" highest =| n Colorado © fm. Grassy Crk * 4.0 MMBO Targeting 3 reservoir zones in the Niobrara F
Slide 14: Proof of Concept
Proof of Concep ros Directionally drilled — maximise fracture intersections ® Under-balanced, environmentally friendly drilling mud & Conservative production practices ® Methodology can be replicated sted 56 BOPD | not penekate | LE and and aid sPIVOIL Zones IN Comet Ridge SEN TST DMN 70 OCOD ELIA.
Slide 15: Florence project map
yall 2) ON A in ic 100 er Kilometers 75 IN Comet Ridge ORD ASX Cede: COI AGM Presentation 28 November, 06
Slide 16: Grays Harbor, Comet Ridge 100%
Comet Ridge 100% ~ 420,000 acre lease option 18,000+ acres under lease Lightly explored, proven basin Multiple reservoir targets & play types 30 plus leads — 25 to 250 BCF scale 42 wells — only 2 drilled on seismic Amoco 1-29 well flowed 9 MMCFD Potential for oil - numerous shows Prospect generation
Slide 17: Focused on coal seam gas
«Focused on coal seam gas Queensland and the US Pacific Northwest -Vader/Cedar Creek — So. Washington soe = Targeting 100’s BCF of gas : ne *Mahalo (QLD) “prize” still significant Cash flow from Tipton West (QLD) in Q1 07 IN Comet Ridge SEN TST DMN 70 OCOD ELIA. ASX Cede: COI AGM Presentation 29 Nov
Slide 18: Vader/Cedar Creek
@ 700 | Gasflowof700.meid fF jp COWLTZ | Jacksof Priatie Sas Stbrage LEWIS = Pogn 100,000 ‘ac: 15,000 a¢ Fé opticn | Area ofeigrificant = coal exploration drilling ASX Code: COl AGM Presentation z G & G © © © © ce © Cc & © 29 November, 06 40% non operated interest Cascadia Energy operator 156,000 gr
Slide 19: Mahalo (QLD)
Mahalo (QL “=| & 40% ownership Santos (Operator) and Origin partners Drilled 5 holes ® good perms and gas contents Significant contingent gas resource ® (180 - 990 BCF) ee » Mahalo 1 - strong gas shows Vm | & Mahalo 2 - no gas inflow ' Well to be logged and surveyed Further work warranted — well in
Slide 20: Activity calendar 2006-2007
Calendar 2006 Calendar 2007 Region Project __| Operator a2 had aa ai a2 Rockies | TowCreek | Comet A A A + Suess driven development program ——__» Bear River | Comet AR FR Success driven development program————» Florence | Comet wage! A A <—_._ Suecess driven development program» Pacific | Grays Harb
Slide 21: Use of Funds
Ys a ef Funds Australian $’s Use of Funds sitinimam Full = Capital raising - AUD $7.66 m* ubscription Subscription | , Cash on hand at 30 September 2006 2,700,000 2,700,000, 2:5 shares held as of 22 Nov 2006 Total raised in the Off 2,500,000 7,660,250), Total Funds Available 5,200,000 10,360,250), 2
Slide 22: Drilling underway
Drilling underway AUD$24 million market cap Material interests in 3 “Company Maker” plays Over 600,000 gross acres in USA Operator of most projects Proven management team Access to infrastructure & markets Reserves and cash-flow imminent IN Comet Ridge SENN BCS TD NMEA 70 OCONEE SIRE NI e ASX Code:
Slide 23: Disclaimer
ee ASX Cede: COI AGM Presentati Comet Ridge Limited has taken all reasonable care in producing the text and images contained on this presentation but does not warrant that the information contained herein is accurate or up to date. The information on these slides is based on publicly available infor
Slide 24: Brisbane Office
BRISBANE OFFICE Telephone: Facsimile: Email: Telephone. +61 — Comet Ridge ASX Code: COL AGM Presentation 29 November. 06