Comet Ridge Ltd · ASX:COI
Comet Ridge — Wilson HTM Energy Conference 2010
20 slides from Comet Ridge's conference presentation, Apr 20, 2010
Slide 1: Comet Ridge Limited
Comet Ridge Limited Wilson HTM Energy Conference 2010 Tor McCaul, Managing Director 20 April 2010 Sydney
Slide 2: Contents
Contents 1 1. Corporate Overview 2. Comet Ridge / Chartwell Energy - History and Merger 3. Australian Exploration 4. New Zealand Exploration 5. New Zealand Greymouth Farm-in Pilot Project
Slide 3: Corporate Overview: Capital Structure and Share Price Performance
Corporate Overview 2 Capital Structure – ASX: COI 12 Month Share Price Performance $0.60 9,000 Share price: $0.29 (as at 19 April 2010) 8,000 $0.50 7,000 Shares on issue (million): 307.4 $0.40 6,000 Unlisted options (million): 26.6 5,000 $0.30 4,000 Undiluted market cap1: $89.1m $0.20 3,000 2,000 Fu
Slide 4: Historical Background – Comet Ridge
Historical Background – Comet Ridge 3 Comet Ridge Limited (COI) CSG assets of Perth-based Strike Oil floated as a separate vehicle – “Comet Ridge Limited” – in April 2004 US conventional oil and gas assets later acquired and management team set-up in Denver, Colorado COI holds 20% interest in USA bu
Slide 5: Historical Background - Chartwell
Historical Background - Chartwell 4 Chartwell Energy Limited – entry to New Zealand Formed in 2007 by a group of private investors with Queensland CSG experience Specifically for CSG exploration and production in New Zealand Headquartered in Brisbane with Wellington office Farming into PMP 50100 blo
Slide 6: Regional Focus
Regional Focus 5 Comet Ridge Limited is a Brisbane-based Coal Seam Gas (CSG) company with projects in Australia, New Zealand and an investment in the USA. Comet Ridge Limited operates two Galilee Basin blocks and three New Zealand blocks – four of these blocks at 100% working interest. Three other n
Slide 7: Galilee Basin
Galilee Basin 6 Two blocks (ATP’s 743P & 744P) located in the Galilee Basin in central QLD Comet holds 100% and is operator in both Large tenement position – 13,000 km2 Focused on eastern flank of basin, where coals sub-crop and dip down to approximately 1,300m Two wells drilled to date, both encoun
Slide 8: Galilee Basin (continued)
Galilee Basin (continued) 7 Significant delay to drilling due to flooding in Queensland Remobilising this week Montani 1 in ATP 744P next Shale gas potential yet to be assessed
Slide 9: Galilee Basin (continued)
Galilee Basin (continued) 8 Commercial options: Third party gas sales for export LNG Smaller scale LNG & CNG for domestic transport use Gas/Power sales into existing infrastructure Gas/Power sales into evolving infrastructure in Galilee Basin eg coal mines
Slide 10: Gunnedah Basin
Gunnedah Basin 9 Located in Northern NSW PEL’s 427 & 428 Comet holds 25% and 20% interest in PEL 427 and PEL 428 respectively. Eastern Star Gas now farmed-in as operator. Moree 4 well - 5 metres coal Kurrabooma 1 - 4 metres coal Many exploration, appraisal and development wells being drilled leading
Slide 11: Mahalo – ATP 337P
Mahalo – ATP 337P 10 Located central eastern QLD, near Rolleston Mahalo – Bowen Basin Covers 1,100 km2 Comet holds 40% with Santos (operator) and Origin 30% each Close to pipeline infrastructure (to Gladstone) Coals proven to be gas bearing Comet considers permit to have great CSG prospectivity Scru
Slide 12: New Zealand Overview
New Zealand Overview 11 Comet Ridge holds three blocks in NZ via subsidiary Chartwell NZ Pty Limited Two blocks - PEP 50280 (Waikato) and PEP 50279 (Buller): Exploration phase Very large (3600 and 4700 km2) 100% interest Known coal provinces Farm-in to PMP50100 underway: Farm- Core hole drilled Nove
Slide 13: New Zealand Exploration
New Zealand Exploration 12 New Zealand’s first ever Airborne magnetic surveys targeted for CSG exploration over permits PEP 50280 & PEP 50279 recently completed Interpretation and integration aim to identify potentially deep (400-1000m) deposits of coal measures for CSG Preliminary interpretation re
Slide 14: PEP 50280 Exploration
PEP 50280 Exploration 13 Early Results: Basement lows were identified Hauraki Depression western coal measures Elevation ranges concentrated between 0 to 500 m but should be regarded as approximate. Basement can be masked by the magnetic response of overlying magnetic sediments.
Slide 15: PEP 50279 Exploration
PEP 50279 Exploration 14 Early Results: Strong magnetic response from basement rocks across permit area. Significant basins were identified within the Inangahua/Reefton area as well as beneath Westport. Sesimic data now available and will be interpreted to integrate with current studies
Slide 16: NZ Exploration Summary
NZ Exploration Summary 15 Gaining better overview of the geological structure underlying permit areas PEP 50280 & PEP 50279. PEP 50280 Interpretation has identified a sequence of ENE and WNW trending basement structures that appear to control the location of coal depocentres. Updated interpretation
Slide 17: Greymouth (PMP 50100) Block
Greymouth (PMP 50100) Block 16 Chartwell currently increasing equity from 20% to 50% via pilot scheme implementation Previous CSG Wells Westgas1, 2 and 3, RM1 and Murcott1 drilled between 1996 and 2001 Macdonald 5C drilled Nov 2009 Established CSG potential by producing gas from two wells – first CS
Slide 18: Greymouth (PMP 50100) Block
Greymouth (PMP 50100) Block 17 Immediate Forward plans are: 2 well Pilot Scheme with 2 pressure observation wells Macdonald 5C core well drilled November 2009 as pressure observation well (in SW) plus one older well – RM1 (in NE) 2 pilot wells currently being drilled Pilot production testing is plan
Slide 19: Greymouth (PMP 50100) Block (contd)
Greymouth (PMP 50100) Block (contd) 18 NZ South Island electricity generation is dominated by Hydro South Island electricity demand has recently started to outstrip supply, requiring electricity imports from the North Island prices increasing dramatically in periods of low rainfall Transmission loss
Slide 20: General Disclaimer
General Disclaimer 19 This document has been prepared by Comet Ridge Limited to provide existing and prospective investors in Comet Ridge Limited with an update on the Company and its operations. This presentation, including the information contained in this disclaimer, does not constitute an offer,