Comet Ridge Ltd · ASX:COI
Comet Ridge — 2023 RIU Good Oil and Gas Energy Conference
16 slides from Comet Ridge's conference presentation, Sep 6, 2023
Slide 1: RIU Good Oil and Gas Energy Conference Presentation
For personal use only Noosa Mining Conference Presentation by: 2023 RIU Good Oil and Tor McCaul, Managing Director Gas Energy Conference Tor McCaul, Managing Director 6 September 2023 10 November 2022
Slide 2: Important notice and disclaimer
COMET RIDGE | A compelling east coast gas play Important notice and disclaimer For personal use only Disclaimer Future performance This presentation (Presentation) has been prepared by Comet Ridge Limited (ABN 47 106 092 577) (Comet This Presentation contains certain “forward-looking statements”. Fo
Slide 3: Comet Ridge: key achievements last 18 months
COMET RIDGE | A compelling east coast gas play Comet Ridge: key achievements last 18 months For personal use only ✓ Completed acquisition of APLNG ✓ Gas Reserves certified at 30% interest in Mahalo JV Mahalo North ✓ Santos exercised option to ✓ Contingent Gas Resources increase its Mahalo JV interes
Slide 4: Pressure building on east coast gas market
Pressure building on east coast COMET RIDGE | A compelling east coast gas play Mandatory Gas Code of Conduct gas market ❖ $12/GJ price cap extended to June 2025 ❖ Investment slowed significantly during For personal use only uncertainty created by market intervention ❖ Reasonable price provisions rem
Slide 5: How did we get so polarised on natural gas?
COMET RIDGE | A compelling east coast gas play Page 5 How did we get so polarised on natural gas? For personal use only
Slide 6: Mahalo Gas Hub: Large gas development close to QGP & GLNG pipelines
COMET RIDGE | A compelling east coast gas play For personal use only Mahalo Gas Hub: Large gas development close to QGP & Santos GLNG pipelines Page 6
Slide 7: Building Gas Reserves at Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Building Gas Reserves at Mahalo Gas Hub Building a large 2P and 3P Gas Reserve Portfolio • Gas Reserves* have now been certified for: 500 For personal use only • Mahalo JV Project (COI 57.14%) 2P Reserves 3P Reserves • Mahalo North (COI 100%) 400 • The
Slide 8: Mahalo Gas Hub: a substantial volume of undeveloped 2P + 2C gas
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: a substantial volume of undeveloped 2P + 2C gas Current 2P + 2C of 406 PJ For personal use only Mahalo Gas Hub COI Net Contingent Size Net Reserves* permits interest Resources* km2 % 2P 3P 2C 3C Mahalo JV project (PL 1082/1083) 989 57.14
Slide 9: Mahalo Gas Hub: path to production
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: path to production For personal use only Mahalo Gas Hub Close to infrastructure Mahalo JV Project Mahalo JV operator Reserve and Resource additions Gas sales progressed Page 9
Slide 10: Focused on moving Mahalo Gas Hub into production
COMET RIDGE | A compelling east coast gas play Focused on moving Mahalo Gas Hub into production Mahalo area can be a major east coast hub – proven gas rates close to infrastructure in the east coast market For personal use only • High productivity shallow reservoir - lower capex and lower cost gas •
Slide 11: Mahalo JV Gas Project: Comet Ridge and Santos
COMET RIDGE | A compelling east coast gas play Mahalo JV Gas Project: Comet Ridge and Santos For personal use only Extensively appraised Progressing gas project infrastructure solutions • Material equity positions for each • High productivity fairway confirmed • Recent Jemena pre-FEED* study partici
Slide 12: Pipeline connection is final key step of development path
COMET RIDGE | A compelling east coast gas play Pipeline connection is final key step of development path • Jemena already completed a pre-FEED* study to build, own and For personal use only operate <80km pipeline connection from Mahalo North to Jemena’s Queensland Gas Pipeline (QGP) • One big gas hu
Slide 13: Comet Ridge: key messages
COMET RIDGE | A compelling east coast gas play Comet Ridge: key messages For personal use only The role of natural gas in East coast energy market Comet Ridge Mahalo Gas Status of production & Australia is strained Hub, east of Gladstone pipeline licences Page 13
Slide 14: Appendices
For personal use only Appendices
Slide 15: Corporate overview
COMET RIDGE | A compelling east coast gas play Corporate overview Share price Market capitalisation COI Share Price and Volume - last 12 months $0.165 $167m $0.25 10.0m For personal use only $0.20 8.0m 4 September 2023 Shares on issue Warrants 1,010m 65.9m* $0.15 6.0m + 10.8m performance rights Avg.
Slide 16: Competent Person Statement
COMET RIDGE | A compelling east coast gas play Competent Person Statement Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The estimate of Reserves and Contingent Resources for the Mahalo Gas Project provided in this Presentation, The Contingent Resour
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