Comet Ridge Ltd · ASX:COI
Comet Ridge — Shareholder Meeting (October 2005)
22 slides from Comet Ridge's shareholder meeting presentation, Oct 5, 2005
Slide 1: General Meeting
I General Meeting | 5 October 2005
Slide 2: Sale of minority, non-operated position in Tipton West
ISN Comet Ridge * Sale of minority, non-operated position in Tipton West, the Dalby South, Dalby and Millmerran farm-out blocks of ATP 683P and ATP 689P * Consideration represents full risked value based on existing gas sales contracts - * Company will reinvest funds into higher leveraged opportunit
Slide 3: Transaction
ISN Comet Ridge nsaction ¢* An upfront cash payment of $2,250,000 plus 2,000,000 unlisted options in Arrow exercisable within 3 years at 60 cents per option * On or before 31 December, 2005, a further sum of $2,250,000 in the form of (at Arrow’s election) cash or by issuing fully paid shares in Arro
Slide 4: Location of Tipton West, ATP 683P & ATP 689P
INN Comet Ridge _ Galliee | We te ou) ior i) iii “cs Y co Do _ MAHALON.- Location of Tipton West, ATP 683P & ATP.689P
Slide 5: Comet Ridge
7 NN Comet Ridge Petroleum Lease PL 498 (20%) Tipton West Pilot ‘ATP 683P ‘Millmerran ATP 689P (30%)
Slide 6: Excellent return on investment
ISN Comet Ridge ° Excellent return on investment * Strengthened balance sheet Proforma $5 million plus on hand to fund expanded strategy * Cash flow anticipated Nov ‘06 at no capital risk ° Near term capital raising avoided
Slide 7: Large scale coal seam gas projects
ISN Comet Ridge v Large scale coal seam gas projects VY Low risk, close in exploration and rejuvenation of mature oil and gas fields utilizing under-balanced directional drilling technology
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Slide 9: Comet Ridge core project
x. Comet Ridge Permian Coals . i 7 Absent Y Core Project - v Earning 40% v¥ Gas Resource ~ 1 TCF v3 wells Q4 2005 Y Flow test inferred gas cap Wi ii ns : 4
Slide 10: Mahalo
ISN Comet Ridge Mahalo 2m \ | co Mahalo Project Area Petroleum Wells Dry hole, Gas Show Coal Hale Comet Ridge Core Holes: Proposed Core Holes ~~" Gas pipeline Way Edge of Permian 250. Depth metres sub sea Structural High @® Gasfieid __ Humboldt Creek 1 s Pollux Seam Top Bandanna Formation
Slide 11: Premium energy market
ISN Comet Ridge v Premium energy market Y Broad spectrum of opportunities v Short time from discovery to cash flow v Increased opportunity to apply competitive advantage = People & drilling technology
Slide 12: Comet Ridge
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Slide 13: Comet Ridge
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Slide 14: Comet Ridge
MS Comet Ridge
Slide 15: Comet Ridge
7 NN Comet Ridge
Slide 16: Comet Ridge
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Slide 17: Comet Ridge
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Slide 18: Comet Ridge
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Slide 19: Cedar Creek Area
INN Comet Ridge Comet Ridge Torrent Energy CORPORATION ae = Cedar Creek Area r~ Coal Seam Ce onven ntional Ge as _
Slide 20: ISN
ISN Comet Ridge
Slide 21: BO VAD rs
ISN Comet Ridge $6 200 $0 480 ~ $460 BO VAD rs $0420 re" BO ADD one $0080 Cy el OR Meats Wow he.
Slide 22: Recommendation
ISN Comet Ridge mmendat ] ¢ Shareholders approve the sale of the Company’s 20% minority interest in the Tipton West Coal Seam Gas project along with interests in associated permits in southeastern Queensland to Arrow Energy NL