Comet Ridge Ltd · ASX:COI
Comet Ridge — Non-Deal Roadshow (April 2004)
16 slides from Comet Ridge's roadshow presentation, April 2004
Slide 1: Comet Ridge Limited Roadshow Presentation
Comet Ridge Limited Roadshow Presentation April, 2004
Slide 2: Corporate Summary
Corporate Summary ! ASX code COI, listed 19 April 2004 ! 61.2m shares + 5.35m options on issue ! Market capitalization $12.2m (@20 cents) ! Top 20 own ~ 60% ! Largest shareholder Perilya Limited (16.2%) ! 3 institutional investors ! 499 shareholders 2
Slide 3: Capital Structure & Shareholders
Capital Structure & Shareholders Issued Number 12 months 24 months % Capital Escrowed Escrow Escrow Restricted Shares on issue pre-IPO 28,408,240 18,392,884 8,364,019 10,028,865 65% Shares issued @ IPO 25,000,000 - - - Vendor Shares 7,750,000 7,750,000 1,500,000 6,250,000 100% Total 61,158,240 26,14
Slide 4: Board
Board Jeff Schneider Andy Lydyard Chairman Managing Director Simon Ashton Gill Swaby Non exec Director Non exec Director 4
Slide 5: Use of Funds
Use of Funds Project State Expenditure Year 1 Year 2 Total Type ($M ) ($M) ($M ) Comet Ridge QLD Earning & pilot 750 500 1250 W alloon Coal Measures QLD Pilot & delineation 1290 300 1590 Galilee QLD Core holes 50 300 350 Shallow Gas N SW Core holes, field work 320 100 420 Cost of Offer 400 400 Admin
Slide 6: Planned 2004 Activities
Planned 2004 Activities Activity April May June July August Sept O ct N ov Dec List on ASX Comet Ridge Somerby 1 & Mahalo 1 120 days Test hole Dalby Block ATP 683P Tipton W est Pilot 3X 3 Plainview, TPW 6, Long Swamp Reserves Reserves Certification Certification Development Shallow Gas N SW Bellata
Slide 7: Location of Assets
Location of Assets Galilee GalileeProject Project (100% (100%interest) interest) Comet CometRidge Ridge Project Project (Earning (Earning40%) 40%) WCM WCMProject Project (Earning (Earning20-50%) 20-50%) Shallow ShallowGas Gas Project Project (50-100% (50-100%interest) interest) 7
Slide 8: Comet Ridge Project – N. Denison Trough, QLD
Comet Ridge Project – N. Denison Trough, QLD Comet CometRidge Ridge Project Project 8
Slide 9: Comet Ridge Project
Comet Ridge Project ! Key prospect in portfolio ! On trend with world class Fairview - Durham Ranch CSG fields ! Dual objective: ! Permian Bandanna & Mantuan coals ! High gas contents in both coals ! Excellent coal control ! Significant potential gas resource (1000PJ) ! OCA operating drilling ! Clos
Slide 10: Comet Ridge Project
Comet Ridge Project Somerby Somerby--1 1 Drilling Bandanna BandannaFm Fmcoals coals Drilling More Morecoal coalthan thanprognosed prognosed,, gassy, gassy,formation formationtest testsuggests suggests Drilled Drilled coals coalsare arepermeable permeablebut but damaged damaged Mantuan Mantuancoals c
Slide 11: WCM Project, SE Queensland
WCM Project, SE Queensland 20% 20% 25 25--50% 50% 20 20--50% 50% 20 20--50% 50% 11
Slide 12: Tipton West Pilot – Dalby Block ATP 683P
Tipton West Pilot – Dalby Block ATP 683P 151°07'30"E 151°15'00"E 151°00'00"E C TW-4 27°20'00"S Long Swamp-1 27°20'00"S C Tipton West ! Comet 20% TWP-8 27°22'30"S M Pilot ! PL198 Application TWP-6 Plainview-1 27°22'30"S Monitoring Area M C ! 8 wells drilled this year M 27°25'00"S TWP-7 TWP-1 M M TW-1
Slide 13: Commercialising Discoveries
Commercialising Discoveries ! Wambo Power Ventures Pty Ltd (Babcock & Brown and ERM Power Pty Ltd) • 3.97 PJ pa for 15 years commencing 2006 • Supply 50MW gas fired power plant near Dalby, QLD ! Ergon Energy Pty Ltd • 2 separate projects - Wellhead generation & Oakey Plant • 2.7 PJ pa for 15 years G
Slide 14: Sector Market Capitalisations
Sector Market Capitalisations Market $m - Cash + Debt = EV Cap Sydney Gas SGL 190.9 41.1 31.8 181.6 CH4 CHX 100.0 25.3 74.7 Planet Gas PGS 44.9 14.0 30.9 Queensland Gas QGC 33.7 1.9 0.5 32.3 Sunshine Gas SHG 33.3 4.6 4.6 33.3 Eastern Star ESG 25.6 6.0 19.6 Arrow Energy AOE 25.4 7.0 1.8 20.2 Molopo M
Slide 15: Summary
Summary ! Comet Ridge drilling in progress – Decision on next phase by August ! WCM drilling well advanced ! Positive signs from Tipton West Pilot ! Reserves certification by June 2004 ! Framework for early commercialisation ! Well positioned to take advantage of new opportunities 15
Slide 16: Comet Ridge
INN Comet Ridge