Comet Ridge Ltd · ASX:COI
Comet Ridge — Good Oil Conference 2013
25 slides from Comet Ridge's conference presentation, Sep 3, 2013
Slide 1: Comet Ridge Overview - Good Oil Conference
For personal use only Comet Ridge Overview - Good Oil Conference Tor McCaul, Managing Director Freemantle, 3 September 2013 www.cometridge.com.au ASX Code : COI www.cometridge.com.au
Slide 2: Contents
For personal use only Contents Company Overview Gas Market Queensland & NSW Assets ASX Code : COI www.cometridge.com.au 2
Slide 3: Section 1: Company Overview
Section 1: For personal use only Company Overview ASX Code : COI www.cometridge.com.au 3
Slide 4: Comet Ridge Limited
Comet Ridge Limited Strategic CSG assets For personal use only Large 3C Resource base and equity positions Multi-basin exposure Domestic and export market opportunities Tightening east Australian gas market Focus on reserve certification Two pilot schemes operating at Mahalo Project – Maha
Slide 5: Comet Ridge – Corporate Overview
For personal use only Comet Ridge – Corporate Overview Capital structure (ASX:COI) 12 month trading history $0.35 3,500 Share price (as at 2 Sep 13) $0.185 $0.30 3,000 Shares on issue 458.1m $0.25 2,500 $0.20 2,000 Market capitalisation1 $84.7m $0.15 1,500 Cash (as at 30-Jun-13, plus $0.10 1,000 $13
Slide 6: Comet Ridge – Corporate Overview: Board
For personal use only Comet Ridge – Corporate Overview Board James McKay 25 years in business (commerce/law background) Non-Exec Chairman Former Chairman, Sunshine Gas Tor McCaul Petroleum engineer with 25 years in upstream and Managing Director downstream oil & gas Chris Pieters Geologist w
Slide 7: Net Gas Resources
For personal use only Net Gas Resources Significant independent Resource bookings in four areas Comet Ridge Limited – Net Recoverable Resources Location Project COI Contingent Contingent Prospective Interest Resource Resource (3C) Resource (2C) (PJ) (PJ) (PJ) Bowen Basin, Mahalo Project (ATP 337P)
Slide 8: Key Achievements - Past Months
For personal use only Key Achievements - Past 12 Months PRIORITY PROJECT PORTFOLIO PROJECTS MAHALO GALILEE GUNNEDAH Pilot drilling completed 3 well appraisal drilling Progressively at Mahalo and Mira programme increasing equity in Both pilot schemes Successful Gunn-2 Gunnedah blocks to ope
Slide 9: Funded to 2P Reserves at Mahalo Project
For personal use only Funded to 2P Reserves at Mahalo Project Raised A$9m via a placement in July 2013 Cash balance post raising of A$13m Company fully funded to complete Mahalo Project work programme and to continue operating Mahalo and Mira pilots Target of both pilots is to achieve commer
Slide 10: Section 2: Gas Market
Section 2: For personal use only Gas Market ASX Code : COI www.cometridge.com.au 10
Slide 11: Tightening Eastern Australia Gas Market
Tightening Eastern Australia Gas Market 4 large LNG consortia control For personal use only Qld domestic gas demand and projected almost 90% of 2P CSG reserves gas demand for LNG exports in Eastern Australia Intensifying competition for future gas reserves, driven by LNG growth Increasing pres
Slide 12: Section 3: Queensland & NSW Assets
Section 3: For personal use only Queensland & NSW Assets ASX Code : COI www.cometridge.com.au 12
Slide 13: Mahalo Project (ATP 337P) – Background
For personal use only Mahalo Project (ATP 337P) – Background Located in the Denison Trough (Bowen Basin), 240km west of Gladstone Close to infrastructure linking to Gladstone JV partners APLNG and Santos participate in two of the Gladstone LNG projects JV operational focus on running the two
Slide 14: Mahalo Project Pilots – Work Completed
For personal use only Mahalo Project Pilots – Work Completed ATP 337P (COI 35%, Stanwell 5%, APLNG 30%, Santos 30%) Mahalo and Mira pilot wells drilled July 2012 and January 2013 Permeabilties in the hundreds of mD measured Confirms pilot areas are highly productive Construction of Mahalo an
Slide 15: Mahalo Field Pilot
For personal use only Mahalo Field Pilot Mahalo Field Pilot scheme on-line from April 2013 Recent pressure build-ups exhibited lower productivity than when initially measured at time of drilling in 2012 Indicating ineffective completion practices Bowen Basin coals can be highly sensitive to
Slide 16: Mira Field Pilot
For personal use only Mira Field Pilot 3 of the 4 wells (Mira 2, 4 and 5) at Mira Field Pilot scheme commenced pumping from June 2013 Initial water rates encouraging with minimal pressure drawdown Recent pressure build-ups confirmed the generally high productivities measured at the time of dri
Slide 17: ATP 337P Mahalo Agreement with Stanwell
For personal use only ATP 337P Mahalo Agreement with Stanwell In Sept 2011, COI/Stanwell option agreement whereby Stanwell can Range of Qld long-term ex-field gas acquire COI 35% interest in Mahalo: contract price outcomes ($/GJ) First 15% interest for A$0.80/GJ per 2P reserve Additional 20% i
Slide 18: Galilee Basin – Background
For personal use only Galilee Basin – Background Large area (~250,000km2) covering a big part of central western Queensland Overlain by Eromanga Basin and underlain by Drummond Basin Land use is grazing – cattle and sheep Oil recoveries and conventional gas flows over a number of years One
Slide 19: Galilee Basin – Greater Gunn Project Area
For personal use only Galilee Basin – Greater Gunn Project Area ATP 743P, ATP 744P and Galilee Farm-in 100% interest in 13,000 km2 plus up to 75% interest in Farm-in Area (825 km2), operated by COI 5 initial wells (2010) and 2D Seismic acquisition programme (2011) 1,870 PJ of 3C Contingent Res
Slide 20: Galilee Basin – Commercial Options
For personal use only Galilee Basin – Commercial Options Galilee Basin market opportunities Different market segments emerging for commercial development: coal, power, LNG Development option 1: Power for coal mines / local generation Development option 2: Gas supply to LNG projects at Gladston
Slide 21: Gunnedah Basin – Background
For personal use only Gunnedah Basin – Background Large area covering central northern NSW Overlain by Surat Basin in north Land use is grazing, forestry and cropping Oil recoveries and conventional gas flows over a number of years Several working pilots in the basin Permian Blackjack an
Slide 22: Gunnedah Basin – Regional Activity
Gunnedah Basin – Regional Activity Gunnedah Basin permits and infrastructure For personal use only Significant investment has been made in the basin (ESG, Santos, EnergyAustralia) and material reserves delineated NSW Government policy has recently curtailed exploration in NSW within two km of to
Slide 23: Comet Ridge Limited Summary
For personal use only Comet Ridge Limited Summary Strategic East Australian CSG assets Large resource and equity positions across three basins Domestic and export market opportunities Tightening east coast gas market with significant upward price pressure Focus on reserve certification Two p
Slide 24: Important Notice and Disclaimer
For personal use only Important Notice and Disclaimer Disclaimer 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 25: Comet Ridge Limited Contact
Comet Ridge Limited For personal use only Contact Level 3 GPO Box 798 Telephone: +61 7 3221 3661 283 Elizabeth Street Brisbane 4001 Facsimile: +61 7 3221 3668 Brisbane 4000 Email info@cometridge.com.au www.cometridge.com.au ASX Code : COI www.cometridge.com.au 25