Mahalo Far East Project

Overview:

• Comet Ridge 100% equity interest and operator.
• Total project area is 404km²  (ATP 2063,  438km²  and ATP 2072, 66km² )
• ATP 2063 awarded in May 2021. New block ATP 2072 awarded in July 2024

Subsurface analysis:

• The southern portion of ATP 2063 and ATP2072 are within the Mahalo Gas Hub high-quality fairway and is expected to be a source of future production wells for the Mahalo Gas Hub.
• Comet Ridge has also identified a large CSG opportunity on the eastern flank of the permit, known as the Blackdown play, which is deeper than the high-quality CSG fairway within the main Mahalo Gas Hub area. The Blackdown play has elevated coal maturity and higher gas content which is likely to require longer lateral wells for commerciality but could ultimately produce excellent gas volumes.
• Also contains conventional (sandstone) gas potential underneath the coals, for which Comet Ridge also holds 100% equity.
• Project funding options are being investigated to advance exploration and appraisal activities in this block given its size and multi-target plays.