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Overview

Comet Ridge is listed on the Australian Securities Exchange with the ASX Code: COI and is based in Brisbane. The Company’s flagship gas project comprises the Mahalo Gas Hub assets located in central Queensland, 240 kilometres to the major gas demand centre of Gladstone.

The Mahalo Gas Hub assets comprise the following permits:

Mahalo JV Gas Project – an extensively appraised coal seam gas project (currently owned 57.14% by Comet Ridge and 42.86% each by Santos and Operator) with certified gas reserves and Petroleum Leases awarded; and
Northern Mahalo Projects – comprising Mahalo North, Mahalo East, Mahalo Far East and Mahalo Far East Extension. These projects are 100% owned and operated by Comet Ridge and are being appraised to add new gas reserves either as stand-alone gas projects or to complement the Mahalo JV Gas Project development.

Comet Ridge Values Statement

VALUES

At Comet Ridge, what we do is important – and how we do it is even more so. Guided by our values of integrity, innovation and investment, we work hard to earn the high regard of our partners, investors and the communities we work and engage with.

INTEGRITY

We demand integrity and personal accountability at every level of the company and a commitment to care for the safety of our people, our contractors, our community and care for the environment in which we work.

INNOVATION

We promote innovation that improves processes and results. Setting high standards for everyone who works at Comet Ridge, we reward top performance and ingenuity.

INVESTMENT

We strategically invest in projects, and we invest in our employees striving to ensure they have every opportunity to grow professionally and excel.

Corporate Strategy

Comet Ridge has gained early entry into well-located exploration areas, allowing shareholders to gain substantial leverage into the upside value potential associated with exploration success.

Comet Ridge conducts CSG exploration and appraisal, with the aim of maturing exploration acreage from gas resources into proven and probable gas reserves. Comet Ridge is committed to becoming a mid-tier supplier of safe and reliable gas to meet Australia’s growing energy needs. Comet Ridge believes natural gas will play a very important role in the transition pathway to net-zero emissions for many years to come.

The Board and Management are highly experienced in establishing and developing gas projects.

Unlocking High-value Gas Reserves for Australia’s Energy Future

The Company’s flagship Mahalo Gas Hub area consists of high-quality natural gas resources with low CO₂ and competitive production costs. The Mahalo Gas Hub contains gross 2P (Reserves) and 2C (Contingent Resources) of 676 Petajoules close to the Gladstone LNG export and domestic market precinct as well as gas transport infrastructure.

There is ever increasing domestic and international demand for natural gas as a source for cleaner energy and as a key manufacturing feedstock that makes thousands of products, used daily. The Federal Government’s Future Gas Strategy reinforces the important role natural gas will play alongside renewables, batteries, and pumped hydro in securing Australia’s energy future.

Comet Ridge plans to transition its Mahalo Gas Hub assets into meaningful gas supply for Australia’s east coast gas market, with its Mahalo JV Gas Project (a joint venture with Santos QNT Pty Ltd (Santos or Operator)) progressing through Front End Engineering Design (FEED) phases as a precursor to a planned Final Investment Decision (FID).

Certified Gas Reserves and Resources
In executing our strategy, Comet Ridge has successfully independently certified the following reserves and prospective and contingent resources as at 30 June 2025 across its Queensland projects:

Work Program
Comet Ridge has an active exploration and appraisal work plan for CSG projects in eastern Australia, focused in the short-term on the certification of gas reserves and contingent resources at the Mahalo Gas Hub projects.