Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2023)
15 slides from Comet Ridge's shareholder meeting presentation, Nov 22, 2023
Slide 1: 2023 Annual General Meeting
For personal use only Noosa Mining Conference Presentation by: Tor McCaul, Managing Director 2023 Annual General Meeting Presentation by: Tor McCaul, Managing Director 10 November 2022 22 November 2023
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: Pressure building on east coast gas market
Pressure building on east coast COMET RIDGE | A compelling east coast gas play Mandatory Gas Code of Conduct 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 rem
Slide 4: 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 4
Slide 5: Mahalo Gas Hub: recent progress
COMET RIDGE | A compelling east coast gas play Page 5 Nov 2023 Mahalo Gas Hub: recent progress Jun 2022 For personal use only
Slide 6: 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 GSA executed Reserve and Resource additions Project funding Page 6
Slide 7: Certified Gas Reserves and Contingent Resources
COMET RIDGE | A compelling east coast gas play Certified Gas Reserves and Contingent Resources • Comet Ridge has certified a large 2P For personal use only Reserve and 2C Resource base at Mahalo 2P Reserves Gas Hub 2C Contingent Resources 2P + 2C • Comet Ridge’s net position is 406 PJ of 2P + 2C, co
Slide 8: Mahalo Gas Hub: Certified Reserve and Resource areas
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: Certified Reserve and Resource areas Current 2P + 2C of 406 PJ For personal use only Net Mahalo Gas Hub COI Area Net Reserves* Contingent permits interest Resources* km2 % 2P 3P 2C 3C Mahalo JV project (PL 1082/1083) 989 57.14% 152 262 1
Slide 9: Mahalo Gas Hub: key qualities
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: key qualities Mahalo area progressing to 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 • Proven
Slide 10: 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 pre-FEED* study partici
Slide 11: Mahalo North: Government approvals underway
COMET RIDGE | A compelling east coast gas play Mahalo North: Government approvals underway • A new Petroleum Lease Application (PLA) has been For personal use only submitted to the Queensland Department of Resources (DOR) • PLA 1128 was assigned by DOR in October 2023 • The successful Mahalo North p
Slide 12: Pipeline connection: critical path step
COMET RIDGE | A compelling east coast gas play Pipeline connection: critical path step • Jemena have completed a pre-FEED* study to build, own For personal use only and operate ~80km pipeline connection from Mahalo North to Jemena’s Queensland Gas Pipeline (QGP) • One large gas hub requires only one
Slide 13: Comet Ridge: key messages
COMET RIDGE | A compelling east coast gas play Comet Ridge: key messages For personal use only The role of natural gas in East coast energy market Comet Ridge Mahalo Gas Status of production & Australia is strained Hub, east of Gladstone pipeline licences Page 13 * BOO: Build, own and operate
Slide 14: Appendices
For personal use only Appendices
Slide 15: 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