Comet Ridge Limited (COI:ASX)

Top Performing ASX Oil and Gas Stocks!

COI ASX Share Price Chart 7 Sep 23

Comet Ridge Limited (COI) is an Australian-based coal seam gas (CSG) exploration company. The Company focuses on the exploration and appraisal of gas resources and reserves in eastern Australia. The Company has tenement interests and a number of prospective projects in eastern Australia.

Current Operations - Natural Gas Resources

Comet Ridge has two irons in the fire, a lower-risk project with Santos at its own Maholo gas hub, and the Galilee basin. Both are projects in Queensland. The Mahalo gas project and its surrounding assets are a large and shallow natural gas reserves. the central project being a joint venture between Comet ridge limited (70%) and Santos (30%).

The main draw is the reduce of risk in the project with the combined capital of Santos, and its 100% ownership of the surrounding gas reserves. COI has several options to increase its ownership of the mahalo gas hub assets. The key catalyst is the Final Investment Decision expected in late 2022/early 2023.

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