Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (November 2016)
19 slides from Comet Ridge's shareholder meeting presentation, Nov 24, 2016
Slide 1: Annual General Meeting - Managing Director's Presentation
For personal use only Comet Ridge Limited Annual General Meeting - Brisbane Managing Director’s Presentation www.cometridge.com.au 24 November 2016 ASX Code : COI www.cometridge.com.au
Slide 2: The past year
The past year For personal use only ASX Code : COI www.cometridge.com.au
Slide 3: Progress
Progress For personal use only December 2015 Increase in Mahalo 2P and 3P independently certified reserves Modest increase in 2P More significant increase in 3P April 2016 Mahalo Pilot Gas Offtake Rate growth from 235 Mcfd at last AGM to over 460 Mcfd Horizontal well performance at upper e
Slide 4: Ongoing targets
Ongoing targets For personal use only Mahalo project - Yet to agree reserves and development pathway for Mahalo within JV JV agreed plan LNG project delivery had been prioritised to significant reserves growth Since Oct 2016 all six LNG trains in Gladstone now running and Comet Ridge believe
Slide 5: Gas Market - Perfect Storm Continues Brewing
Gas Market - Perfect Storm Continues Brewing For personal use only A perfect storm in the energy market has been brewing in the last few years – massive increase on the demand side from LNG exports superimposed with state and territory government mandated restrictions on the supply side Queensla
Slide 6: External Disruptors – Continue to Grow
External Disruptors – Continue to Grow For personal use only Significant green activism and disruption applied to gas exploration and production across Australia despite the significant contribution gas can make to curbing emissions Moratoria on onshore gas exploration and development and other
Slide 7: Mahalo Project
Mahalo Project For personal use only ASX Code : COI www.cometridge.com.au
Slide 8: Mahalo Production Performance
Mahalo Production Performance For personal use only Overall performance of horizontal ATP 1191 Mahalo Block well and Mahalo Pilot has been very COI 40% pleasing APLNG 30% Santos 30% By last AGM in 2015 production had come a long way, but still more significant progress in 2016 Water rate is lo
Slide 9: Mahalo Development Concept
Mahalo Development Concept For personal use only Significant analysis work to examine most efficient and effective way to move the northern pilot schemes into production via available export pipeline capacity and field infrastructure Three Step Process: 1. Conversion of existing 3P to 2P reserve cat
Slide 10: Galilee Basin
Galilee Basin For personal use only ASX Code : COI www.cometridge.com.au
Slide 11: Galilee Basin Background
Galilee Basin Background For personal use only ATP 743, ATP 744 and ATP 1015 (CSG & Conventional) 100% interest in ~8,500 km2 operated by COI Gaining 100% interest in ATP 1015 in final stages – significant 100% eastern footprint CSG - 1,870 PJ 3C Contingent Resource and considerable untested u
Slide 12: Galilee Basin – Sandstone Gas
Galilee Basin – Sandstone Gas For personal use only Comet Ridge OGIP Gas Contingent Resource Earlier petroleum wells within COI (PJ) (PJ) Net Equity Share area recovered oil and/or gas from Category 1C 2C 3C 1C 2C 3C Lake Galilee Sandstone 100% 130 334 861 56 153 417 Carmichael 1 (1995) flowed g
Slide 13: Galilee Basin – Outlook
Galilee Basin – Outlook For personal use only A structurally short east coast market will need to look to the Galilee Basin for gas volume Comet Ridge’s eastern position with both large sandstone gas and large CSG resources will have increasing significance Sandstone Gas at Albany (3C – 417 PJ
Slide 14: Rolling Forward
Rolling Forward For personal use only ASX Code : COI www.cometridge.com.au
Slide 15: Eastern Australia Future Sources of Gas
Eastern Australia Future Sources of Gas New eastern gas reserves will come from: For personal use only 1. Poorer quality areas in existing CSG basins moving away from sweet-spots (i.e. Surat Basin) Gladstone LNG projects likely to focus here But can they get their costs down? 2. Untapped CSG in
Slide 16: Comet Ridge - Strategic East Coast Gas Portfolio
Comet Ridge - Strategic East Coast Gas Portfolio For personal use only Reserve (PJ) Contingent Resource (PJ) Type 2P 3P 1C 2C 3C CSG 67 1870 Sandstone Gas 56 153 417 Reserve (PJ) Contingent Resource (PJ) Type 2P 3P 1C 2C 3C CSG 30 219 112 232 372 Reserve (PJ) Contingent Resource (PJ) Type 2P 3P 1C 2
Slide 17: Contact
For personal use only Contact Telephone: +61 7 3221 3661 Facsimile: +61 7 3221 3668 Email info@cometridge.com.au Level 3 GPO Box 798 www.cometridge.com.au 283 Elizabeth Street Brisbane 4001 ASX Code : COI Brisbane 4000 www.cometridge.com.au
Slide 18: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer For personal use only 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 19: Competent Person Statement and ASX Listing Rules Chapter 5
For personal use only Important Notice and Disclaimer Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The Contingent Resource for the Carmichael Structure referred to in this presentation are taken from an independent report by Dr Bruce McConachie of