Comet Ridge Ltd · ASX:COI

Comet Ridge — Noosa Mining & Exploration Conference 2014

19 slides from Comet Ridge's conference presentation, Jul 17, 2014

  1. Slide 1: Noosa Mining & Exploration Conference

    www.cometridge.com.au Noosa Mining & Exploration Conference Tor McCaul Managing Director 17 July 2014 ASX Code : COI www.cometridge.com.au

  2. Slide 2: Comet Ridge Limited

    Comet Ridge Limited Strategic CSG assets  Large 3C Resource base and equity positions  Multi-basin exposure  Domestic and export market opportunities  Tightening east Australian gas market Focus on production  Pilot schemes operating at the Mahalo Gas Project  Focus on achieving commercial gas

  3. Slide 3: Comet Ridge – Corporate Overview

    Comet Ridge – Corporate Overview Capital structure (ASX:COI) 6 month trading history Share price (as at 16-Jul-14) $0.15 Shares on issue 458.7m Market capitalisation1 $68.8 Cash (as at 31-Mar-14) $7.0m Enterprise value1 $61.8m Source: IRESS 1. Excludes 0.6m performance rights ASX Code : COI www.come

  4. Slide 4: Net Gas Resources

    Net Gas Resources Comet Ridge Limited – Net Recoverable Resources + Location Project COI Contingent Resource (PJ) Prospective Interest Resource 1C 2C 3C (PJ) ++ Bowen Basin, Mahalo Gas Project 40%* 83 221 442 - QLD (ATP 337P) Galilee Basin, Gunn Project Area** 100% - 67 1,870 597*** QLD (ATP 744P) G

  5. Slide 5: Mahalo Gas Project – Background

    Mahalo Gas Project – Background  Located in the Denison Trough (Bowen Basin), ATP 337P 240km west of Gladstone (COI 40%*, APLNG 30%, Santos 30%)  Close to infrastructure linking to Gladstone LNG market with significant gas supply requirement and rising prices  JV partners APLNG and Santos partici

  6. Slide 6: Mahalo Buy Back executed March 2014

    Mahalo Buy Back executed March 2014  Comet Ridge recently announced the buy back of interests in the Mahalo Gas Project previously sold to Stanwell in 2011, increasing COI’s project interest to 40%  Stanwell can elect either of the following at final investment decision as consideration for the re

  7. Slide 7: Rationale for Mahalo Buy-Back

    Rationale for Mahalo Buy-Back  Buying back Stanwell’s interests in the Mahalo Gas Project provides considerable benefits to COI: Restores COI interest in Mahalo to 40% with consideration in the form of a gas sales 1 agreement or cash payment deferred until final investment decision for the project

  8. Slide 8: Mahalo and Mira Field Pilots

    Mahalo and Mira Field Pilots  Brought on-line in April 2013 (Mahalo) and June 2013 (Mira)  Returned to production testing following stimulation in January / February 2014  Mahalo Field Pilot gas production has shown continuing steady increase each week since early March  Pumping operations conti

  9. Slide 9: Galilee Basin – Background

    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  Permian Betts Creek Beds

  10. Slide 10: Galilee Basin – Gunn Project Area

    Galilee Basin – Gunn Project Area ATP 743P, ATP 744P and ATP 1015 (CSG)  100% interest in 13,000 km2 operated by COI plus 20% interest in 825 km2 within ATP 1015  5 initial wells (2010) and 2D Seismic acquisition programme (2011)  1,870 PJ of 3C Contingent Resource and considerable untested upsid

  11. Slide 11: Galilee Basin – Conventional Gas

    Galilee Basin – Conventional Gas Conventional petroleum potential  3 historic petroleum wells within ATP 743 and ATP 744P recovered oil and/or gas from Lake Galilee Sandstone at the base of the Galilee Basin  Carmichael 1 flowed gas to surface on three tests from deeper sandstone intervals (2,600m

  12. Slide 12: Galilee Basin – Carmichael Prospect

    Galilee Basin – Carmichael Prospect Carmichael-1  Well drilled in 1995 targeting oil with high mud overbalance  Three Drillstem tests flowed gas to surface at low rates  Another significant interval was not tested  Well confirms sandstone prospectivity in the basin, adding to CSG resources ASX C

  13. Slide 13: Galilee Basin – Commercial Options

    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 Gladstone  Development option

  14. Slide 14: Gunnedah Basin – Background

    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 and Maules Creek ‒ Multi

  15. Slide 15: Gunnedah Basin – Regional Activity

    Gunnedah Basin – Regional Activity  Significant investment has Gunnedah Basin permits and infrastructure been made in the basin (ESG, Santos, EnergyAustralia) and material reserves delineated – over 1,600 PJ 2P  Santos holds 55,000 km2 in NSW – COI in JV over 18,000 km2 at 22.5%, 50% and 60% equit

  16. Slide 16: Investment Highlights

    Investment Highlights Strategic  Large resource and equity positions assets  High priority Mahalo Project with highly productive coals close to Gladstone market  Significant 3C Resource base Experienced  Combines technical and commercial; CSG team and conventional; upstream and downstream (inclu

  17. Slide 17: Important Notice and Disclaimer

    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 only. Shareholders and in

  18. Slide 18: Important Notice and Disclaimer

    Important Notice and Disclaimer Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The contingent resource estimates for ATP 774P, ATP 337P, PMP 50100 and PMP 50279 provided in this statement (refer to page 4) are based on and fairly represent, informati

  19. Slide 19: Comet Ridge Limited

    Comet Ridge Limited Contact Level 3 GPO Box 798 Telephone: +61 7 3221 3661 283 Elizabeth Street Brisbane 4001 Facsimile: +61 7 3221 3668 Brisbane 4000 Email [email protected] www.cometridge.com.au ASX Code : COI www.cometridge.com.au 19

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