Comet Ridge Ltd · ASX:COI
Comet Ridge — Bell Potter East Coast Energy Roundtable (June 2023)
16 slides from Comet Ridge's conference presentation, Jun 7, 2023
Slide 1: Bell Potter East Coast Energy Roundtable
For personal use only Noosa Mining Conference Presentation by: Bell Potter: Tor McCaul, Managing Director East Coast Energy Roundtable Tor McCaul, Managing Director 7 June 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: Mahalo Gas Hub: Large gas development close to QGP & Santos 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 3
Slide 4: Comet Ridge: key achievements last 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 Mahalo 30% interest in Mahalo JV North ✓ Drilled Mahalo North dual lateral ✓ Contingent Gas Resources certified pilot well at
Slide 5: Gas market supply looks weak
COMET RIDGE | A compelling east coast gas play Gas market supply looks weak ❖ Gas supply for east coast domestic market Un-risked East Coast Domestic Supply (PJ/a)* insufficient in the near term For personal use only Potential for shortfalls during winter✓spikes 2023- Drilled Mahalo North dual lat
Slide 6: Pressure building on east coast gas market
Pressure building on east coast COMET RIDGE | A compelling east coast gas play Gas Code update 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 removed ❖ Decline
Slide 7: Mahalo Gas Hub: a substantial volume of undeveloped P + 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 8: 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 8
Slide 9: 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 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 MOU for transport parti
Slide 12: Pipeline connection is final step of commercialisation path
COMET RIDGE | A compelling east coast gas play Pipeline connection is final step of commercialisation path • Jemena undertaking a pre-FEED* study to build, own and operate a For personal use only 73km 25TJ/day pipeline connection from Mahalo North to Jemena’s Queensland Gas Pipeline (QGP) • Initial
Slide 13: Comet Ridge: Value drivers
COMET RIDGE | A compelling east coast gas play Comet Ridge: Value drivers For personal use only Mahalo Gas Hub Mahalo North (100% COI) Mahalo JV Project Mahalo East (100% COI) Gas Sales Price Cap exemption 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 $0.25 COI Share Price and Volume - last 12 months 10.0m $0.15 $152m For personal use only $0.20 6 June 2023 7.5m Shares on issue Warrants $0.15 1,010m 65.9m* $0.10 5.0m + 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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