Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2014)
22 slides from Comet Ridge's shareholder meeting presentation, Nov 27, 2014
Slide 1: Annual General Meeting - Brisbane: Managing Director's Presentation
www.cometridge.com.au For personal use only Comet Ridge Limited Annual General Meeting - Brisbane Managing Director’s Presentation 27 November 2014 ASX Code : COI www.cometridge.com.au
Slide 2: Strategically Positioned for Gladstone LNG
For personal use only Strategically Positioned for Gladstone LNG 4 large LNG consortia and AGL control Qld domgas demand and projected gas 97% of 2P CSG reserves in Queensland** demand for LNG exports Intensifying competition for uncontracted gas reserves driven by LNG demand Mahalo Project we
Slide 3: Mahalo Project
Mahalo Project For personal use only ASX Code : COI www.cometridge.com.au 3
Slide 4: Mahalo Project – Background
Mahalo Project – Background ATP 337P Mahalo Block For personal use only JV partners APLNG and Santos participate in two of the Gladstone LNG projects (COI 40%, APLNG 30%, Santos 30%) 11km from pipeline infrastructure linking to Gladstone LNG and domestic market with significant gas supply requir
Slide 5: Mahalo Buy Back
For personal use only Mahalo Buy Back Comet Ridge announced the buy back of interests in the Indicative GSA Example Mahalo Project previously sold to Stanwell in 2011, increasing COI’s project interest to 40% Based on 35 PJ/a Gross Project Field Development Stanwell can elect either of the follo
Slide 6: Maiden Reserve Booking at Mahalo
Maiden Reserve Booking at Mahalo COI 40% Share – Mahalo Reserves & Resources For personal use only August 2014 Reserve Statement delivered initial independently certified COI 3P+3C gas volume = 592 PJ (↑34%) reserves and material upgrade to contingent resources ‒ ↑ 150% at 1P + 1C level (208 PJ) ‒
Slide 7: Mahalo Field Pilot
For personal use only Mahalo Field Pilot Mahalo 6 Mahalo 5 Mahalo 3 Mahalo 4 Gas Flare Water tanks ASX Code : COI www.cometridge.com.au 7
Slide 8: Mahalo horizontal well – concept
Mahalo 7 horizontal well – concept For personal use only ASX Code : COI www.cometridge.com.au
Slide 9: Mahalo horizontal well – achieved path
Mahalo 7 horizontal well – achieved path For personal use only ASX Code : COI www.cometridge.com.au
Slide 10: Comet Ridge Mahalo Project Forward Strategy
Comet Ridge Mahalo Project Forward Strategy For personal use only Strategy for High quality asset – COI 40% (largest equity interest) Mahalo Maximise 2P and 3P reserves Project Drilling and Mahalo 7 horizontal well now drilled and due on-line early December appraisal Further Mahalo Project w
Slide 11: Galilee Basin
Galilee Basin For personal use only ASX Code : COI www.cometridge.com.au 11
Slide 12: Galilee Basin position
Galilee Basin position ATP 743P, ATP 744P and ATP 1015 (CSG) For personal use only 100% interest in ~8,500 km2 operated by COI plus 20% interest in 870 km2 within ATP 1015P 1,870 PJ of 3C Contingent Resource and considerable untested upside Conventional prospectivity in sandstones Harrington
Slide 13: Galilee Basin – Conventional Gas
For personal use only Galilee Basin – Conventional Gas Conventional petroleum potential 3 historic petroleum wells within ATP 743P and ATP 744P recovered oil and/or gas from Lake Galilee Sandstone at the base of the Galilee Basin Carmichael 1 flowed gas to surface on three tests from deeper sand
Slide 14: Galilee Basin – Conventional
Galilee Basin – Conventional Carmichael - 1 For personal use only Well drilled in 1995 targeting oil with high mud overbalance Three drill stem tests flowed gas to surface at low rates 150m gross sandstone with 50m net pay showing hydrocarbon saturation and porosities up to 13%. Two key 35m
Slide 15: Galilee Basin – Commercial Options
Galilee Basin – Commercial Options Galilee Basin market opportunities For personal use only Different market segments emerging for commercial development: coal, power, LNG Development option 1: Power for coal mines / local generation Development option 2: Gas supply to LNG projects at Gladston
Slide 16: Galilee Basin – Coal Mine Projects
Galilee Basin – Coal Mine Projects For personal use only 4 projects accounting Status of Key Galilee Basin Coal Mining Projects for up to ~160 Mtpa Project name Proponent Coal Invest. Status coal exports have export size State Federal Environmental secured conditional quantity environmental enviro
Slide 17: Galilee Basin – Gunn Project Area
Galilee Basin – Gunn Project Area ATP 743P, ATP 744P and ATP 1015 (CSG) Gunnedah Basin NSW For personal use only 100% interest in ~8,500 km2 operated by COI plus 20% interest in 870 km2 within ATP 1015P 5 initial wells (2010) and 2D Seismic acquisition programme (2011) 1,870 PJ of 3C Contingen
Slide 18: Gunnedah Basin – Recent Announcements
Gunnedah Basin – Recent Announcements Significant investment has been made in the basin For personal use only (ESG, Santos, EnergyAustralia) and material Reserves delineated ~ 1,600 PJ 2P PEL 6, PEL 427, PEL 428 Santos holds 55,000 km2 in NSW – COI in JV over (CSG & Conventional) 18,000 km2 at 2
Slide 19: Comet Ridge Limited
For personal use only Comet Ridge Limited High quality Mahalo Initial Reserves certified Project Two pilots continuing to operate with horizontal well starting Current production testing and work program to expand Reserves, leading to field development plan Adjacent to Mahalo Field Pilot loc
Slide 20: Contact
Comet Ridge Limited For personal use only Contact Level 3 GPO Box 798 Telephone: +61 7 3221 3661 283 Elizabeth Street Brisbane 4001 Facsimile: +61 7 3221 3668 Brisbane 4000 Email info@cometridge.com.au www.cometridge.com.au ASX Code : COI www.cometridge.com.au 20
Slide 21: 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 22: Important Notice and Disclaimer
For personal use only Important Notice and Disclaimer Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The estimate of Reserves and Contingent Resources for the MGP as part of ATP 337P provided in this presentation, is based on, and fairly represents,