Comet Ridge Ltd · ASX:COI
Comet Ridge — Bell Potter Unearthed Conference (February 2022)
16 slides from Comet Ridge's conference presentation, Feb 10, 2022
Slide 1: Comet Ridge Limited - Bell Potter Unearthed Conference
For personal use only COMET RIDGE LIMITED Bell Potter Unearthed Conference Tor McCaul, Managing Director 10 February 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”. F
Slide 3: Highlights
COMET RIDGE | A compelling east coast gas play Highlights For personal use only 1 Comet Ridge purchase of APLNG stake (30%) unlocks the Mahalo Gas Hub for development. Fully funded for APLNG acquisition, appraisal at Mahalo North (100% owned) and working capital 2 requirements. 3 Early Mahalo North
Slide 4: Focused on the development of the Mahalo Gas Hub, Queensland
COMET RIDGE | A compelling east coast gas play Focused on the development of the Mahalo Gas Hub, Queensland For personal use only Mahalo can be a major east coast hub – proven gas rates close to infrastructure in the east coast market ✓ Shallow coals: lower drilling and completion costs = lower cape
Slide 5: Very significant progress in the last months
COMET RIDGE | A compelling east coast gas play Very significant progress in the last 12 months For personal use only Funded acquisition of APLNG’s 30% interest in Mahalo Gas Project Binding agreement to acquire APLNG’s 30% interest in the Mahalo Gas Project, increasing COI’s interest to 70%* Santos
Slide 6: Mahalo Gas Project – positioning as Australia's next East Coast gas producer
COMET RIDGE | A compelling east coast gas play Mahalo Gas Project – positioning as Australia’s next East Coast gas producer For personal use only Significantly appraised project Strong project • 20+ CSG appraisal wells fundamentals • Mira pilot flowed 1.4MMcfd from only 924m in coal • Longer develop
Slide 7: Pilot production laterals drilled in high productivity fairway
COMET RIDGE | A compelling east coast gas play Pilot production laterals drilled in high productivity fairway For personal use only Gas Rate Achieved 0.43 MMcfd 1.4 MMcfd Currently in first month of test Page 7
Slide 8: Mahalo North Pilot Well showing exciting early results
COMET RIDGE | A compelling east coast gas play Mahalo North Pilot Well showing exciting early results For personal use only Drilling results have Dual lateral well designed to Pilot well constructed and exceeded expectations show high production potential production test underway and we expect stron
Slide 9: Already Mahalo North 2/1 looks superior to Mira 6/2
COMET RIDGE | A compelling east coast gas play Already Mahalo North 2/1* looks superior to Mira 6/2 For personal use only De-watering Comparison • Over the first four weeks of production test, water 400 400 productivity from Mahalo North 2/1 is already 350 350 demonstrably superior to Mira 6/2. 300
Slide 10: Domestic and global gas prices are expected to remain very strong
COMET RIDGE | A compelling east coast gas play Domestic and global gas prices are expected to remain very strong For personal use only Global gas demand continues to increase driven by rebound in global manufacturing and production. For a variety of reasons supply has not kept up with demand. ACCC L
Slide 11: Southern Australia continues to face a supply cliff
COMET RIDGE | A compelling east coast gas play Southern Australia continues to face a supply cliff For personal use only Source: Energy Quest, December 2020 Page 11
Slide 12: Directors - proven gas development and production backgrounds
COMET RIDGE | A compelling east coast gas play Directors - proven gas development and production backgrounds For personal use only James McKay Tor McCaul Gillian Swaby Chris Pieters Martin Riley Shaun Scott Non-exec Chairman Managing Director Non-Exec Director Executive Director Non-Exec Director No
Slide 13: Corporate overview
COMET RIDGE | A compelling east coast gas play Corporate overview For personal use only COI Share Price and Volume - last 12 months Share price Market capitalisation $0.16 16m A$0.13 $112m $0.14 14m $0.12 12m Shares on issue Performance rights $0.10 10m 860m 16.4m $0.08 $0.06 8m 6m $0.04 4m Warrants
Slide 14: Certified Gas Reserves and Contingent Resources
COMET RIDGE | A compelling east coast gas play Certified Gas Reserves and Contingent Resources For personal use only Comet Ridge Limited (PJs) Gas Reserves Contingent Gas Resources 1 Mahalo Gas Project, Bowen Basin (QLD) 1P 2P 3P 1C 2C 3C COI current 40% interest 0 106 183 53 89 154 Post Acquisition
Slide 15: Competent Person Statement
COMET RIDGE | A compelling east coast gas play Competent Person Statement For personal use only 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,
Slide 16: For more information
For personal use only FOR MORE INFORMATION Telephone: +61 7 3221 3661 Email: info@cometridge.com.au Level 3, 410 Queen Street Brisbane Queensland 4000 cometridge.com.au
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