Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2022)
17 slides from Comet Ridge's shareholder meeting presentation, Nov 25, 2022
Slide 1: Noosa Mining Conference 2022 Annual General Meeting
Noosa Mining Conference Presentation by: 2022 Annual General Meeting Tor McCaul, Managing Director Presentation by: Tor McCaul, Managing Director 10 November 2022 25 November 2022
Slide 2: Important notice and disclaimer
COMET RIDGE | A compelling east coast gas play Important notice and disclaimer 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”. Forward looking words su
Slide 3: 2022 Scorecard
COMET RIDGE | A compelling east coast gas play 2022 Scorecard Share price Market capitalisation COI Share Price and Volume - last 12 months +54% +67% $0.25 10.0m Nov 2022: $0.185 Nov 2022: $187m $0.20 Nov 2021: $0.12 Nov 2021: $112m 7.5m Operational hours Safety & Environment $0.15 +105% Nil $0.10 5
Slide 4: Delivering on strategy: building gas reserves for east coast market
COMET RIDGE | A compelling east coast gas play Delivering on strategy: building gas reserves for east coast market Mahalo East Material (Target 2023) growth in 3P Reserves Mahalo North (Nov 2022) MGP – purchase of APLNG interest (June 2022) Mahalo Gas Project (MGP) Net 3P Reserves (July 2021) Page 4
Slide 5: Focused on the Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Comet Ridge: Focused on the Mahalo Gas Hub 1 Targeting a meaningful gas supply into the strained east coast gas market. 2 Progressing 100% owned Mahalo North for early gas production scheme. 3 Mahalo Gas Project progressing to development with Santos as
Slide 6: Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub Current 2P + 2C = 375 PJ Mahalo Gas Hub COI Net Contingent Size Net Reserves* permits interest Resources* km2 % 2P 3P 2C 3C Mahalo JV 468 57.14% 152 262 - - (PL 1082/1083) Mahalo JV ext 521 57.14% - - 180 294 (PCA 302/303/304) Mahalo Nort
Slide 7: Mahalo Gas Hub: path to production
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: path to production Mahalo JV - certified Certified new Reserves at Mahalo area can be a gross 2P Gas Reserves Mahalo North: low cost, high production, of 266 PJ. Equal to 60 43 PJ 2P multi-year gas hub TJ/d production for 12 years 110 PJ
Slide 8: Building Gas Reserves at Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Building Gas Reserves at Mahalo Gas Hub Mahalo JV - Acquired Net Reserves (June 22) to COI (Nov 22) Mahalo North - Certified • Gas Reserves* have now been certified for: (Nov 22) • Mahalo Gas Project (COI 57.14%) Net Reserves to COI • Mahalo North (COI
Slide 9: 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 – already demonstrated gas rates close to east coast market • High productivity shallow reservoir = lower capex and lower cost gas • Proven production: • Mahalo N
Slide 10: Mahalo North is now the best pilot well
COMET RIDGE | A compelling east coast gas play Mahalo North 1 is now the best pilot well in the Mahalo Gas Hub area • Mahalo North 1 (100% block) • In-seam length of 1,884 metres in a confirmed extension of the high productivity fairway • Gas production: 1.75 MMcfd • The ultimate volume of gas being
Slide 11: Mahalo North moving from appraisal to development phase
COMET RIDGE | A compelling east coast gas play 100% held Mahalo North moving from appraisal to development phase Single-well production test Pilot well achieved achieved ‘world class’ 1.75 MMcfd - highest results and confirmed high recorded gas flow in the productivity fairway extends Mahalo Gas Hub
Slide 12: Mahalo Gas Project: Comet Ridge and Santos
COMET RIDGE | A compelling east coast gas play Mahalo Gas Project: Comet Ridge and Santos (Mahalo JV) Extensively appraised Progressing Simplified JV structure project infrastructure solution • Material equity positions • High productivity fairway • Provide one common for each participant confirmed
Slide 13: Galilee Basin: 4740 km2 for the next big gas play?
COMET RIDGE | A compelling east coast gas play Galilee Basin: 4740 km2 for the next big gas play? • Comet Ridge has a large position in the Galilee Basin at two levels: • 100% interest in Shallows (CSG interests) • 70% interest in Deeps (Sandstones) – in joint venture with Vintage Energy • Long term
Slide 14: EnergyQuest: Gas price cap would remove 700PJ of future gas production
COMET RIDGE | A compelling east coast gas play EnergyQuest: Gas price cap would remove 700PJ of future gas production EnergyQuest study findings: “High gas prices helped to increase east coast supply over the past year, but….. …. predicts “a tortured path ahead” as supplies still ran short….. ….. ma
Slide 15: Appendices
Appendices >» IS Comet Ridge
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
Slide 17: For more information
FOR MORE INFORMATION Telephone: +61 7 3221 3661 Email: info@cometridge.com.au Level 3, 410 Queen Street Brisbane Queensland 4000 cometridge.com.au