Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2005)
26 slides from Comet Ridge's shareholder meeting presentation, Nov 30, 2005
Slide 1: Chairman's Address and AGM Presentation
on Comet Ridge 30 November 2005 The Company Announcements Officer Australian Stock Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 By Electronic Lodgement Dear Sir/Madam CHAIRMAN’S ADDRESS AND AGM PRESENTATION Please find attached the Chairman’s Address and Managing Director’s Repo
Slide 2: Chairman's Address to the Annual General Meeting
COMET RIDGE LIMITED (ACN 106 092 577) CHAIRMAN’S ADDRESS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF COMET RIDGE LIMITED HELD AT THE PRESIDENTS ROOM, CELTIC CLUB 48 ORD STREET, PERTH, WESTERN AUSTRALIA ON WEDNESDAY 30 NOVEMBER 2004 AT 10.30AM This Annual General Meeting of the shareholders of C
Slide 3: Chairman's Address (continued)
Origin will have confirmed both the size of the gas resource and the economics of production from the project. Comet Ridge presently has 40% of an in-place gas resource that could be as large as 1000 PJ. Santos and Origin are now both established coal seam gas developers and producers so we expect,
Slide 4: Chairman's Address (conclusion)
re-location of the Managing Director the day-to-day management of our existing interests in Australia will be undertaken by Mr Vic Palanyk who was appointed General Manager in February 2005. Mr Palanyk has extensive coal seam gas experience having formerly been General Manager of Queensland Gas. The
Slide 5: His
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Slide 6: Comet Ridge Limited
SS, . : t Ridge Limi v Formed 2 years ago v Floated 18 months ago Y Established in the Australian CSG business v Expanded into the US in 2005
Slide 7: Discover and develop large scale coal seam gas projects
IN Comet Ridge v Discover and develop large scale coal seam gas projects in eastern Australia
Slide 8: Eastern Australia pipelines and gas fields map
IN Comet Ridge port Proposad Pipolines (~ Gas Piseines Ct Pipatines Rurastle Willoon Coat Maanares Fairway Gas Felts Permian 096 Field Pemian Roel Basing aa ae Tipton West
Slide 9: Comet Ridge: past months highlights
MS Comet Ridge inthe past 18 months: Il i x ee ie v Significant gas reserves Tipton West (3P > 2000PVJ) Y Significant gas resource Mahalo (~ 990 PJ in place Y Strategic alliance to secure drilling technology v Strengthened balance sheet via sale of Tipton West Y Initiated US Strategy
Slide 10: Comet Ridge Australian permits map
ee yo Comet Ridge Petroleum Lease PL 498 (20%) a a oe y Detail’ MM 1 A ATBCBRSP /Atilimerran (30%) — oD Le
Slide 11: Tipton West sale transaction
IN Comet Ridge ransaction . v $2,250,000 cash + 2m unlisted 60c options in Arrow V $2,250,000 by 31 Dec ‘05 V Royalty payment of 1.5% up to $8 million Total Transaction Value ~ $12.8 million* * Over the lite of the royalty
Slide 12: Cash on cash return on investment
IN Comet Ridge Y Cash on cash return on investment Strengthened balance sheet v $5 million plus on hand to fund expanded strategy Y Cash flow anticipated Nov ‘06 at no capital risk Near term capital raising avoided v Company now in control of its destiny
Slide 13: Large scale coal seam gas projects
IN Comet Ridge v Large scale coal seam gas projects V Low risk, close in exploration and rejuvenation of mature oil and gas fields utilizing under-balanced directional drilling technology
Slide 14: Mahalo Project
halo Project yo Comet Ridge MS — | oe ees ¥ Core Project v Earning 40% v Gas Resource ~ 1. TCF. : ¥3wellsDecember'05 | @ | MA4 vV Flow test inferred gas cap|_ 1 “Stuns i mel
Slide 15: Mahalo project area map
IN Comet Ridge Hi Co Mahalo Project Area Petroleurn Wells. Dry hole, Gas Show Coal Hole Comet Ridge Core Holes Proposed Core Holes ~~" Gas pipeline ARY Edge of Permian _-250~ Depth matres sub sea Structural High @ Gasficid Pollux Seam Top Bandanna Formation
Slide 16: Premium energy market
IN Comet Ridge v Premium energy market v Broad spectrum of opportunities ¥ Short time from discovery to cash flow v Increased opportunity to ) apply competitive advantage > = On the ground experience & drilling technology
Slide 17: Comet Ridge
yw Comet Ridge
Slide 18: Overlooked coal seam gas opportunities
IN Comet Ridge Y Overlooked coal seam gas opportunities Y Opportunities to apply directional drilling technology developed in Australia — Lower permeability, high gas content coals — Fractured reservoirs 7 — Mature oil and gas fields —
Slide 19: HALOMETRES
Co HALOMETRES _ ay Le
Slide 20: Comet Ridge
o@ = O ° idge Comet R — - — — -
Slide 21: zan.tsew,
IN Comet Ridge Te 2 zan.tsew, ” ai oe
Slide 22: Cedar Creek Area
Comet Ridge * a = = sar Cedar Creek Area : rn i Comet Ridge Torrent Energy CORPORATION
Slide 23: Gas - Oil - Tow Creek
IN Comet Ridge GAS - ? OIL — Tow Creek
Slide 24: Planned Activity
A. nned Activity
Slide 25: Capital Structure
IN ital Stru ctur . Come} Ridge ASX code: Col Issued shares: 61.2m shares Issued options: 6.4m 3yr 20¢ options Market cap: . $10 million Cash: . ~$ 5 million* Top 20: 52% Shareholders: —- 486_—
Slide 26: Disclaimer
=e Disclaimer Comet Ridge Limited has taken all reasonable care in producing the text and images contained on this presentation but does not warrant that the information contained herein is accurate or up to date. The information on these slides is based on publicly available information, internal d