Past year: ▼ 41%(7.70c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2025debt financing▲ GoodMajor
The Northern Australia Infrastructure Facility (NAIF) board approved the Mahalo JV Gas Project to move to its due diligence stage for debt financing. This is not a commitment to lend. The company aims to finalise a debt and equity package for FID in the first half of 2026.
14 Nov 2025investor presentation● Neutral
Managing Director's AGM presentation covering east coast gas supply shortfall themes and the Mahalo Gas Hub. Presentation of known positions; no new results evident in the readable text. Text is truncated.
14 Nov 2025agm notice● Neutral
All resolutions at the 14 November 2025 AGM passed on a poll, with 1,196,438,720 shares on issue at the record date. Administrative outcome.
10 Nov 2025director officer appointment▲ Good
Robin Polson appointed Chief Financial Officer from 10 November 2025, with over three decades of experience including CFO and chief commercial roles at ASX-listed gas companies. Fills the vacancy left by Phil Hicks's resignation, as the company nears an FID.
31 Oct 2025quarterly activities report● Neutral
September 2025 quarter: Santos upstream FEED and Jemena pipeline FEED both progressed, with Jemena's fieldwork studies mostly complete. Mahalo North EPBC decision is now expected in December. Data room talks on project and corporate deals continued. Cash was $10.6m (unaudited), down from $13.3m.
20 Oct 2025investor presentation● Neutral
Managing Director's Barrenjoey East Coast Gas Day presentation repeating known positions: Mahalo East 52 PJ and Mahalo North 43 PJ of 2P reserves, with upstream and pipeline FEED progressing before FID. No new results evident. Text is truncated.
13 Oct 2025director officer appointment● Neutral
Non-executive director Gillian Swaby, on the board since April 2004 and Audit Committee chair since 2009, will retire at the 14 November 2025 AGM rather than seek re-election. Board change of a long-serving director; successor not named in this announcement.
25 Sept 2025agm notice● Neutral
The 2025 AGM is set for 14 November 2025 in Brisbane, with director nominations closing 3 October 2025. Administrative notice only.
23 Sept 2025investor presentation● Neutral
Managing Director's Bell Potter Gas Roundtable presentation restating known positions: Mahalo East 52 PJ and Mahalo North 43 PJ of 2P reserves, four pilots, and upstream and pipeline FEED progressing before FID. No new results evident. Text is truncated.
22 Sept 2025annual report● Neutral
FY2025 annual report: loss after tax $2.47m (FY24 $7.17m), cash $13.3m at 30 June 2025. Mahalo Hub gross 2P+2C is 676 PJ. Highlights are Mahalo East reserves, the Jemena pipeline FEED, the amended CleanCo agreement and the PURE loan extension. Text is truncated.
22 Sept 2025annual report● Neutral
Annual Corporate Governance Statement dated 18 September 2025, saying practices substantially follow ASX recommendations except where explained. Administrative disclosure with no new operational or financial substance. Text is truncated.
22 Sept 2025annual report● Neutral
Appendix 4G key to corporate governance disclosures for FY ended 30 June 2025, confirming the governance statement is current as at 18 September 2025 and on the company website. Administrative filing with no new operational or financial substance. Text is truncated.
31 July 2025quarterly activities report● Neutral
June 2025 quarter: Mahalo East reserves certified at 51.8 PJ 2P, and both Santos upstream and Jemena pipeline FEED progressed. Mahalo North EPBC final response submitted, with approval anticipated by end 2025. PURE loan was extended. Cash was $13.3m (unaudited).
30 July 2025director officer appointment● Neutral
CFO Phil Hicks, in the role since July 2021, resigned to pursue an external opportunity. He stays until 30 September 2025 and the company has begun a search for a replacement.
25 July 2025resource reserve update▲ GoodMajor
Mahalo East received its first independent reserves certification: 51.8 PJ of 2P and 118.5 PJ of 3P, as at 30 June 2025. This converts earlier contingent resources (2P is 67% above prior 2C) and lifts Comet Ridge's net reserves to nearly 250 PJ 2P and 530 PJ 3P.
26 May 2025material agreement● NeutralMajor
The two remaining conditions in the CleanCo gas sales agreement were pushed back to 31 March 2026, to align with the expected Mahalo FID. Supply now starts in 2027 at a lower rate over the first nine months, with a minimum of 21 PJ still to be delivered over seven years.
21 May 2025debt financing▲ GoodMajor
The $9.5m PURE loan, due September 2025, was extended to 30 June 2027 at an unchanged 12% interest, with no fee. Two co-investors took $3.5m of it. 55m new warrants at $0.16 are issued and about 39.4m old Tranche 1 warrants cancelled.
30 Apr 2025quarterly activities report● Neutral
March 2025 quarter: Santos has progressed upstream FEED and Jemena pipeline FEED has begun. Mahalo East gas flows have risen steadily for over two months, with data going to the reserves auditor. Mahalo North EPBC is still pending. Cash was $15.9m; a final $1m grant payment is due.
3 Apr 2025investor presentation● Neutral
Managing Director's Queensland Energy Conference presentation repeating known positions: large Mahalo 2P and 2C base, a fourth pilot (Mahalo East) flaring gas ahead of expectations, and both FEEDs under way before FID. No new results evident. Text is truncated.
25 Mar 2025material agreement▲ GoodMajor
The Mahalo JV (Comet Ridge 57.14%, Santos 42.86%) engaged Jemena to run FEED on the 10-inch pipeline to the Queensland Gas Pipeline and GLNG pipeline. Jemena is funding the FEED and may build, own and operate it after FID. Resolves the pending Pipeline FEED approval.
13 Mar 2025half year report● Neutral
Half-year to 31 December 2024: comprehensive loss $1.203m versus $5.745m a year earlier, the smaller loss mainly from non-cash fair-value movements on financial liabilities. Cash was $19.256m after the $12.028m December placement. Restates known Mahalo progress; no new results.
12 Mar 2025well test result▲ GoodMajor
Mahalo East pilot has produced gas continuously for over two weeks, with first gas after only five and a half weeks of dewatering, ahead of expectations. Final core gas content is higher than pre-drilling estimates. Testing continues toward an initial 2P/3P reserves booking.
31 Jan 2025quarterly activities report▲ Good
December 2024 quarter: Mahalo JV approved Upstream FEED, Jemena sent an amended pipeline FEED offer, and Mahalo East testing began in January. Cash is $19.3m after the December placement. Mahalo North EPBC approval is still pending.
20 Jan 2025production update▲ Good
The Mahalo East pilot production test started up in mid-January 2025, after the October-November drilling. Water and gas will flow along the ME2 lateral into the ME1 vertical well. Core gas desorption is almost complete, with strong volumes seen. No gas rates reported yet.
12 Dec 2024capital raising announcement● NeutralMajor
Comet Ridge raised about $12m through a placement at $0.14 per share, a 9.7% discount to the last close. Funds are intended for its share of Mahalo JV FEED, Mahalo East production testing, Mahalo North approvals and corporate costs. This follows the $15m raised at $0.17 in February 2024.
6 Dec 2024joint venture update▲ GoodMajor
Santos, as operator, approved the Mahalo JV Project (Comet Ridge 57.14%) to start FEED, a step towards a final investment decision; this resolves the pending approval from the quarterly. Mahalo East production equipment is being installed, and Mahalo North EPBC data is due soon.
25 Nov 2024agm notice● Neutral
All resolutions at the 25 November 2024 AGM passed on a poll. Shares on issue at the record date were 1,110,524,434. Administrative outcome.
25 Nov 2024investor presentation● Neutral
Managing Director's AGM presentation repeating the Mahalo Gas Hub position: net 2P+2C of 406 PJ, 3P+3C of 827 PJ, with Mahalo East in pilot testing. No new results evident. Text is truncated.
11 Nov 2024drilling result▲ GoodMajor
Mahalo East drilling finished: the ME2 lateral intercepted ME1 and drilled 1,338 m in the Aries coal seam, and core gas desorption is strong. Production testing is expected early in the new year, aiming for a first Mahalo East reserves booking.
5 Nov 2024investor presentation● Neutral
Re-release of the 31 October RBC Energy Forum presentation, now including the Listing Rule 5.42 reserves and resources disclosure. Same figures (406 PJ net 2P+2C); no new substance. Text is truncated.
