Comet Ridge Ltd · ASX:COI

Comet Ridge — Taylor Collison – East Coast Gas Issues & Outlook (April 2017)

23 slides from Comet Ridge's conference presentation, Apr 5, 2017

  1. Slide 1: Taylor Collison – East Coast Gas Issues & Outlook

    For personal use only Comet Ridge Limited Taylor Collison – East Coast Gas Issues & Outlook Adelaide 5 April 2017 www.cometridge.com.au ASX Code : COI www.cometridge.com.au

  2. Slide 2: Comet Ridge Limited

    Comet Ridge Limited For personal use only  ASX listed - based in Brisbane  Focus on natural gas in eastern Australia  Multi-basin presence  Southern Bowen (Mahalo) - Queensland  Galilee - Queensland  Gunnedah - NSW  Coal Seam Gas (CSG) Pilot schemes running at the Mahalo Gas Project with init

  3. Slide 3: 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 3

  4. Slide 4: Eastern Australia – State of Play

    Eastern Australia – State of Play For personal use only  Substantial green activism and disruption applied to gas exploration and production across Australia despite the significant contribution gas makes to the national economy  Moratoria on onshore gas exploration and development and other regul

  5. Slide 5: 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 i

  6. Slide 6: Mahalo Project

    Mahalo Project For personal use only ASX Code : COI www.cometridge.com.au

  7. Slide 7: Mahalo – Comet Ridge Managing Subsurface Work

    Mahalo – Comet Ridge Managing Subsurface Work ATP 1191 Mahalo Block - COI 40% - APLNG 30% - Santos 30% For personal use only  Executed agency agreement with Santos for Comet Ridge to manage next phase announced 3 April  Target on moving 3P reserves to 2P – COI 219 PJ (3P)+ & 112 PJ (1C)+  Program

  8. 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%  Water rate is low leading to expectation of lower development and operating costs  Two of three vertical wells br

  9. 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

  10. Slide 10: For personal use only

    Galilee Basin For personal use only ASX Code : COI www.cometridge.com.au

  11. Slide 11: Galilee Basin - General

    Galilee Basin - General For personal use only  Large area (~250,000km2) covering a big part of central western Queensland  Land use is grazing – cattle and sheep on large stations  Historical exploration - oil recovered and gas flows from multiple wells  Recent basin-wide focus on CSG  Short te

  12. Slide 12: Galilee Basin - Background

    Galilee Basin - Background For personal use only ATP 743, ATP 744 and ATP 1015 (CSG & Conventional)  100% interest in ~9,700 km2 operated by COI  Gaining 100% interest in ATP 1015 completed – large 100% eastern footprint  CSG - 1,870 PJ 3C+ Contingent Resource and considerable untested upside  S

  13. Slide 13: Galilee Basin – Sandstones: Conventional Exploration

    Galilee Basin – Sandstones Conventional Exploration For personal use only  ~100 petroleum wells (intersecting Galilee sequence) over 70 years  Targeting Late Carboniferous to Permian sandstones to depths of ~3000m  3 wells had significant hydrocarbon shows – Koburra Trough inside Comet Ridge’s cu

  14. Slide 14: Sandstones – Koburra Trough

    Galilee Basin – Sandstones For personal use only Koburra Trough  3 historic petroleum wells within ATP 743 and ATP 744 recovered gas and/or oil from Lake Galilee Sandstone at base of Galilee Basin section  Koburra 1, Carmichael 1 and Lake Galilee 1 flowed gas to surface at low rates  However earl

  15. Slide 15: Sandstones – Contingent Resource

    Galilee Basin – Sandstones 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 gas

  16. Slide 16: Sandstones – Carmichael

    Galilee Basin – Sandstones For personal use only Carmichael 1  Drilled by Maple Oil in 1995 - 27km NE of Lake Galilee 1  Robust NW plunging anticlinal structure on eastern flank of Koburra Trough  Targeting oil with high mud overbalance  Three drill stem tests flowed gas to surface at low rates

  17. Slide 17: Sandstones – Lake Galilee

    Galilee Basin – Sandstones For personal use only Lake Galilee 1  First deep petroleum well in Koburra Trough, drilled by Exoil NL in 1964  Targeting 4-way dip closure (valid structural test?)  Targeting oil with high mud overbalance  >260m gross sandstone over Lake Galilee Sandstone  Gas flow +

  18. Slide 18: CSG – Gunn Project Area

    CSG – Gunn Project Area For personal use only Gunn Project Area  6 individual coal seams  depth to coal 700-1,000m  >16m net coal deposited over large area  average gas content 4.3 m3/t (high 7.3 m3/t)  good to excellent permeability within target coals  Gunn-2 EPT  perforated single 4m coal

  19. Slide 19: Positive Relationships: Environment and Community

    Galilee Basin – Positive Relationships For personal use only Environment and Community ASX Code : COI www.cometridge.com.au 19

  20. Slide 20: 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

  21. Slide 21: 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

  22. Slide 22: 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

  23. Slide 23: Important Notice and Disclaimer – Competent Person Statement

    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 Albany Structure ATP 744 are taken from an independent report by Dr Bruce McConachie of SRK Consulting (Australasia)

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