Comet Ridge Ltd · ASX:COI
Comet Ridge — Noosa Mining Conference (February 2023)
17 slides from Comet Ridge's conference presentation, Feb 9, 2023
Slide 1: Noosa Mining Conference – Bell Potter Unearthed
For personal use only Noosa Mining Conference Presentation by: Bell Potter Unearthed Tor McCaul, Managing Director Presentation by: Tor McCaul, Managing Director 10 November 2022 9 February 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: Strategy: building a low cost 2P + 2C gas portfolio for the East Coast market
COMET RIDGE | A compelling east coast gas play Comet Ridge Strategy: building a low cost 2P + 2C gas portfolio for the East Coast market For personal use only 2P Reserves 2C Contingent Resources Page 3
Slide 4: Mahalo JV Project: path to production
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: path to production For personal use only Mahalo JV Project - Recent Gas Reserve and Mahalo Gas Hub can be Resource additions: certified gross 2P Gas a low cost, high • Mahalo North - 43 PJ of 2P & 110 PJ Reserves of 266 PJ. production, m
Slide 5: Comet Ridge: Focused on the Mahalo gas hub
COMET RIDGE | A compelling east coast gas play Comet Ridge: Focused on the Mahalo Gas Hub For personal use only 1 Targeting a meaningful gas supply into the projected east coast gas market shortfall. Mahalo North (100% owned) Gas Reserves certified and moving towards early production via 2 nearby De
Slide 6: A substantial volume of undeveloped 2P + 2C gas
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: a substantial volume of undeveloped 2P + 2C gas For personal use only Current 2P + 2C of 406 PJ Mahalo Gas Hub COI Net Contingent Size Net Reserves* permits interest Resources* km2 % 2P 3P 2C 3C Mahalo JV project (PL 1082/1083) 989 57.14
Slide 7: Building Gas Reserves at Mahalo
COMET RIDGE | A compelling east coast gas play Building Gas Reserves at Mahalo Gas Hub Building a large 2P and 3P Gas Reserve Portfolio For personal use only • Gas Reserves* have now been certified for: 2P Reserves 3P Reserves • Mahalo JV Project (COI 57.14%) Total Mahalo • Mahalo North (COI 100%) N
Slide 8: Focused on moving into production
COMET RIDGE | A compelling east coast gas play Focused on moving Mahalo Gas Hub into production For personal use only Mahalo area can be a major east coast hub – proven gas rates close to infrastructure in the east coast market • High productivity shallow reservoir - lower capex and lower cost gas •
Slide 9: Mahalo North is the best pilot well in the area
COMET RIDGE | A compelling east coast gas play Mahalo North 1 is the best pilot well in the Mahalo Gas Hub area For personal use only • Mahalo North 1 (100% block) • In-seam length of 1,884 metres in a confirmed extension of the high productivity fairway • Gas production: 1.75 MMcfd • The ultimate v
Slide 10: Mahalo North moving from appraisal to development phase
COMET RIDGE | A compelling east coast gas play 100% held Mahalo North moving from appraisal to development phase For personal use only Single-well production test Pilot well achieved achieved ‘world class’ 1.75 MMcfd - highest results and confirmed high recorded gas flow in the productivity fairway
Slide 11: Mahalo North – infrastructure access arrangements with Denison Gas Limited
COMET RIDGE | A compelling east coast gas play Mahalo North – infrastructure access arrangements with Denison Gas Limited For personal use only • Comet Ridge and Denison have engaged Verbrec to undertake a jointly funded FEED* study to upgrade Denison’s infrastructure to process gas from Mahalo Nort
Slide 12: Mahalo JV project has been simplified
COMET RIDGE | A compelling east coast gas play Mahalo JV project has been simplified For personal use only • Significantly simplified JV structure with material equity positions for Comet Ridge and Santos: • Santos commercially engaged as Operator and via recent exercise of option to increase Mahalo
Slide 13: Corporate overview
COMET RIDGE | A compelling east coast gas play Corporate overview For personal use only Share price Market capitalisation COI Share Price and Volume - last 12 months $0.25 10.0m $0.16 $162m $0.20 8 February 2023 7.5m Shares on issue Warrants $0.15 1,010m 65.9m* $0.10 5.0m + 10.8m performance rights
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 For personal use only The estimate of Reserves and Contingent Resources for the Mahalo Gas Project provided in this Presentation,
Slide 16: Directors - proven gas development and production backgrounds
COMET RIDGE | A compelling east coast gas play Directors - proven gas development and production backgrounds For personal use only James McKay Tor McCaul Gillian Swaby Chris Pieters Martin Riley Shaun Scott Non-exec Chairman Managing Director Non-Exec Director Executive Director Non-Exec Director No
Slide 17: For more information
For personal use only FOR MORE INFORMATION Telephone: +61 7 3221 3661 Email: info@cometridge.com.au Level 3, 410 Queen Street Brisbane Queensland 4000 cometridge.com.au
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