Comet Ridge Ltd · ASX:COI
Comet Ridge — Spotlight on ASX Conference 2013
25 slides from Comet Ridge's conference presentation, May 14, 2013
Slide 1: Spotlight on ASX Conference
For personal use only Spotlight on ASX Conference 14 May 2013, Hong Kong 16 May 2013, Singapore www.cometridge.com.au ASX Code : COI www.cometridge.com.au
Slide 2: Contents
For personal use only Contents Comet Ridge Limited (COI) Gas Market COI Australian Assets ASX Code : COI www.cometridge.com.au 2
Slide 3: Section 1: Comet Ridge Limited (COI)
Section 1: For personal use only Comet Ridge Limited (COI) ASX Code : COI www.cometridge.com.au 3
Slide 4: Company Snapshot
Company Snapshot For personal use only Upstream energy company focusing on exploration and appraisal of CSG from its Queensland and Northern NSW assets Exposure to significant upside in basins where there is increasing demand for gas, significant new markets and prices moving upwards ASX liste
Slide 5: Comet Ridge – Corporate Overview
For personal use only Comet Ridge – Corporate Overview Capital structure (ASX:COI) 12 month trading history Share price (as at 8 May 13) $0.21 Shares on issue 406.5m Market capitalisation1 $85.4m Cash (as at 31-Mar-13) $6.5m Enterprise value1 $78.9m Source: IRESS 1. Excludes 2.5m unlisted options an
Slide 6: Comet Ridge – Corporate Overview: Board
For personal use only Comet Ridge – Corporate Overview Board James McKay • 25 years in business (commerce/law background) Non-Exec Chairman • Former Chairman, Sunshine Gas Tor McCaul • Petroleum engineer with 25 years in upstream and Managing Director downstream oil & gas Tony Gilby • Geologist with
Slide 7: Comet Ridge Limited
For personal use only Comet Ridge Limited Strategic CSG assets Experienced team Large resource and Board and equity positions management team Multi-basin exposure combines technical and commercial; CSG and Significant 3C conventional; upstream Resource base and downstream Domestic and expo
Slide 8: Net Gas Resources
Net Gas Resources Significant independent Resource bookings in four areas For personal use only Outside of the Gladstone LNG projects, Comet Ridge estimates it holds ~20% of the CSG resources Comet Ridge Limited – Net Recoverable Resources Location Project COI Contingent Contingent Prospective I
Slide 9: Key Achievements - Past Months
For personal use only Key Achievements - Past 12 Months MAHALO GALILEE GUNNEDAH Pilot drilling at 3 well appraisal Progressively Mahalo and Mira drilling programme increasing equity in Constructed two Successful Gunn-2 Gunnedah blocks to pilot schemes, extended production material position
Slide 10: 2013 Work Programme
For personal use only 2013 Work Programme Q1 (Jan-Mar) Q2 (Apr-Jun) Q3 (Jul-Sep) Q4 (Oct-Dec) PRODUCTION TESTING PROGRAMME Construction / MAHALO Mahalo pilot Testing Commissioning Non-operated Construction / Mira pilot Testing Commissioning GALILEE 100%, Gunn-2 Testing Testing operated EPT CORE HOLE
Slide 11: Section 2: Gas Market
Section 2: For personal use only Gas Market ASX Code : COI www.cometridge.com.au 11
Slide 12: Gas Market Demand
For personal use only Gas Market Demand Queensland gas market is Qld domestic gas demand and projected now dominated by LNG gas demand for LNG exports exports 4 large LNG consortia control almost 90% of 2P CSG reserves in E. Aust Increasing pressure on domestic gas supply and pricing Intensi
Slide 13: Gas Market Demand (continued)
Gas Market Demand (continued) “ For personal use only Domestic customers report Whichever way you look at it the east Australian gas story is a coal seam gas story. an inability to contract gas ” You can clearly see the perfect storm that is heading LNG proponents seeking to the way of east coas
Slide 14: Gas Pricing
Gas Pricing “ For personal use only Historically, east Australia has had some East Coast gas producers are now talking ” of the cheapest gas in the world publicly of prices of up to $8/GJ (Origin and AGL) and up to $9/GJ (Santos) East Australian gas prices have ……Draft Energy White Paper, increa
Slide 15: Section 3: COI Australian Assets
Section 3: For personal use only COI Australian Assets ASX Code : COI www.cometridge.com.au 15
Slide 16: Mahalo Project – Background
For personal use only Mahalo Project – Background Located in the northern Denison Trough, 250km west of Gladstone Close to infrastructure linking to Gladstone JV partners APLNG and Santos participate in two of the Gladstone LNG projects Operational focus now on running two pilot schemes with
Slide 17: Mahalo Project (ATP 337P), Bowen Basin
For personal use only Mahalo Project (ATP 337P), Bowen Basin ATP 337P (COI 35%, Stanwell 5%, APLNG 30%, Santos 30%) Mahalo and Mira pilot wells drilled July 2012 and January 2013 Construction of Mahalo and Mira pilot schemes during first half 2013 comprising: Downhole pumps and tubing Separa
Slide 18: ATP 337P Mahalo Agreement with Stanwell
For personal use only ATP 337P Mahalo Agreement with Stanwell Sale to Stanwell Corporation of COI interest in ATP 337P Mahalo: 5% interest for $7 million; Stanwell funding up to $8 million of drilling programme and pilot facilities Stanwell option to pay $1M per PJ of 2P reserves booked (to
Slide 19: Galilee Basin – Background
For personal use only Galilee Basin – Background Large area (~250,000km2) covering a big part of central western Queensland Overlain by Eromanga Basin and underlain by Drummond Basin Land use is grazing – cattle and sheep Oil recoveries and conventional gas flows over a number of years One
Slide 20: Galilee Basin – Greater Gunn Project Area
For personal use only Galilee Basin – Greater Gunn Project Area ATP 743P, ATP 744P and Galilee Farm-in 100% interest in 13,000 km2 plus up to 75% interest in Farm-in Area (825 km2), operated by COI 5 initial wells (2010) and 2D Seismic acquisition programme (2011) 1,870 PJ of 3C Contingent Res
Slide 21: Galilee Basin – Commercial Options
For personal use only Galilee Basin – Commercial Options Galilee Basin market opportunities 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 22: Gunnedah Basin – Background
For personal use only Gunnedah Basin – Background Large area covering central northern NSW Overlain by Surat Basin in north Land use is grazing, forestry and cropping Oil recoveries and conventional gas flows over a number of years Several working pilots in the basin Permian Blackjack an
Slide 23: Gunnedah Basin – Regional Activity
Gunnedah Basin – Regional Activity Gunnedah Basin permits and infrastructure For personal use only Significant investment has been made in the basin (ESG, Santos, EnergyAustralia) and material reserves delineated NSW Government policy has recently curtailed exploration in NSW within two km of to
Slide 24: Important Notice and Disclaimer
For personal use only Important Notice and Disclaimer Disclaimer 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 25: Comet Ridge Limited Contact
Comet Ridge Limited For personal use only Contact Level 1 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 25