Mahalo Far East Project

Overview:

• Comet Ridge 100% equity interest and operator.
• Total project area is 338km².
• Permit awarded in May 2021.

Subsurface analysis:

• Coals are generally deeper and have notably higher natural gas content than the main Mahalo Gas Hub high productivity fairway, adding a very significant additional gas in place volume to Comet Ridge’s portfolio.
• 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.