Past year: ▼ 41%(7.70c – 16.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 June 2024asset acquisition disposition▲ GoodMajor
Comet Ridge was selected as preferred tenderer for a new 66 km2 gas block, called Mahalo Far East Extension, on a 100% basis with no domestic supply obligations. Formal award still needs environmental approval and Native Title arrangements.
10 May 2024contract award▲ GoodMajor
Comet Ridge won a $5m Queensland Government Frontier Gas Exploration grant to drill and test a lateral pilot at its 100%-owned Mahalo East (ATP 2061), which holds 31 PJ 2C and 122 PJ 3C of contingent resources. Operations are planned to start next quarter.
12 Mar 2024half year report● Neutral
Half-year to 31 December 2023: loss of $5.745m (prior period $3.668m), which the report attributes mainly to non-cash movements in financial liabilities at fair value. Cash was $7.77m, boosted afterwards by the $15.0m placement. Roughly 6% of 2P+2C is contracted. Text is truncated.
1 Mar 2024other● Neutral
S&P Dow Jones Indices' March 2024 rebalance lists Comet Ridge as an addition to the All Ordinaries index, effective 18 March 2024. The rest is a list of other companies' changes. Text is truncated.
14 Feb 2024investor presentation● Neutral
Capital raising presentation accompanying the $15m placement, recapping the Mahalo Gas Hub's progress and net 2P+2C of 406 PJ and 3P+3C of 827 PJ. It repeats known facts. Text is truncated.
14 Feb 2024capital raising announcement● NeutralMajor
Comet Ridge raised $15m through a placement of 88.5m shares at $0.17, a 12.8% discount to last close, lifting pro-forma cash from $7.8m to $22.8m. Funds go to Mahalo North, its share of Mahalo JV FEED costs and working capital.
What it means for a shareholder
88.5m new shares at A$0.170 to raise about A$15.0m. That's 8.0% dilution: every existing holder's slice gets 8.0% smaller. If you held A$1,000 of shares (5,882 at the issue price), your slice goes from 0.000579% to 0.000533% of the company. To keep it you'd need 513 more shares - about A$87 at the issue price.
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20 Dec 2023resource reserve update▲ GoodMajor
Sproule raised Mahalo North 3P Reserves by 39 PJ (35%) to 149.2 PJ, from five new areas added in pre-FEED design work. The 1P (11.9 PJ) and 2P (42.9 PJ) figures are unchanged, so only the most speculative category grew.
15 Dec 2023material agreement▲ GoodMajor
CleanCo's shareholding Ministers approved the seven-year, 3 PJ a year gas sales agreement signed in September, clearing that approval condition. Supply is still to start in the 1 July 2025–30 June 2026 window and remains conditional on project steps such as FID.
22 Nov 2023investor presentation● Neutral
Managing Director's AGM presentation recaps the Mahalo Gas Hub's progress, the extended $12/GJ price cap with small-producer exemption, the executed CleanCo agreement and the path to production and project funding. No new results evident. Text is truncated.
21 Sept 2023other● Neutral
Appendix 4G governance checklist for the year to 30 June 2023, pointing to the corporate governance statement on the website. Administrative filing with no new business information.
21 Sept 2023other● Neutral
Annual corporate governance statement dated 19 September 2023, saying practices substantially follow the ASX principles apart from stated exceptions. Compliance document with no new business information. Text is truncated.
21 Sept 2023annual report● Neutral
FY2023 annual report: underlying loss after tax $6.57m (2022: $8.63m) and cash $11.7m at 30 June 2023. It recaps Mahalo North's 1.75 MMcfd pilot, the certified reserves and resources, the $24m placement, the Santos loan repaid and the CleanCo agreement signed 18 September. Text is truncated.
19 Sept 2023material agreement▲ GoodMajor
COI executed its first gas sales agreement, a seven-year deal with Queensland Government-owned CleanCo for 3 PJ a year (21–25 PJ total), starting between 1 July 2025 and 30 June 2026. It resolves the long-running negotiation but needs Queensland Government approval and depends on FID and finance. Monthly repayments also cover Stanwell's earlier investment.
6 Sept 2023investor presentation● Neutral
Managing Director's Good Oil and Gas Conference presentation recaps the last 18 months' achievements, including the $24m placement, Jemena as pipeline partner and the CleanCo agreement, plus the Gas Code exemption for small producers. No new results are evident. Text is truncated.
25 Aug 2023material agreement● Neutral
The CleanCo gas sales agreement is moving through each party's approvals and is expected to be signed in mid-September 2023. The negotiating period, which was due to expire 31 August, is extended a fourth time, to 30 September.
18 July 2023auditor change● Neutral
Pitcher Partners is appointed auditor after an audit tender and PwC's resignation, with ASIC consent. PwC had served four years. The board will seek shareholder ratification at the next AGM. No reason beyond the tender process is given.
23 June 2023material agreement▲ GoodMajor
The CleanCo gas sales agreement is now substantially completed, with the negotiating period extended a third time, to 31 August 2023, so final Federal gas code requirements (expected in July) and board approvals can be included. It is still unsigned; it would be COI's first Mahalo gas sales agreement.
7 June 2023investor presentation● Neutral
Managing Director's Bell Potter East Coast Energy Roundtable presentation recaps achievements of the last 18 months and the east coast supply outlook. No new results are evident. Text is truncated.
16 May 2023material agreement▲ GoodMajor
COI signed a non-binding MOU with Orica for long-term Mahalo North gas supply to its Yarwun plant near Gladstone. Binding terms and funding structures are still to come, and the deal depends on securing a pipeline connection to the Queensland Gas Pipeline.
12 May 2023material agreement▲ GoodMajor
COI signed an MOU and pre-FEED agreement with Jemena for a roughly 73 km pipeline from Mahalo North to the Queensland Gas Pipeline, for at least 25 TJ/d. Jemena would build and own it. It runs parallel to the Denison route and adds a larger option.
14 Mar 2023half year report● Neutral
Half-year to 31 December 2022: loss $3.67m (prior period $2.49m), higher due to finance costs. Cash $16.3m. COI's share of Mahalo Hub 2P reserves plus 2C resources is 406 PJ. Text is truncated.
14 Mar 2023material agreement▼ Bad
The CleanCo gas sales agreement negotiating period is extended again, to 30 June 2023, because the draft Mandatory Code of Conduct has not yet been released. This is the second extension, and no agreement is signed.
9 Feb 2023investor presentation● Neutral
Managing Director's Bell Potter Unearthed presentation repeats the Mahalo strategy and the recent Mahalo North reserves and Mahalo East resources. No new results are evident. Text is truncated.
30 Jan 2023joint venture update▲ GoodMajor
COI and Denison Gas will jointly fund a Verbrec FEED study to upgrade Denison's infrastructure to process up to 10 TJ/d from Mahalo North. Commercial terms follow the study, advancing the early-gas route to market.
21 Dec 2022material agreement▼ Bad
The CleanCo gas sales agreement negotiating period is extended from end-2022 to 31 March 2023, missing the end-December execution target. COI cites recent market uncertainty; the agreement is still unsigned.
19 Dec 2022resource reserve update▲ GoodMajor
Sproule certified Mahalo East (100% COI) at 31 PJ 2C and 122 PJ 3C contingent resources, delivering the year-end certification expected. If appraisal converts them to reserves, COI's net 3P across Mahalo would be nearly 500 PJ. A pilot test is still required first.
25 Nov 2022other▲ Good
Chairman's AGM address calls 2021/22 the most successful year yet, recapping the APLNG purchase, Santos option, Mahalo North reserves and $24m placement. It expects CleanCo's agreement by end of December and a Mahalo East contingent resource before year end. No new figures.
25 Nov 2022investor presentation● Neutral
AGM presentation shows 3P reserves at 372 PJ (up 103% on a year earlier) and 2P at 195 PJ (up 84%). Share price was $0.185, market value $187m. Otherwise repeats the strategy. Text is truncated.
10 Nov 2022investor presentation● Neutral
Managing Director's Noosa conference presentation repeats the strategy: build Mahalo reserves, pursue an early Mahalo North gas scheme, develop Mahalo with Santos, and appraise Mahalo East (target 2023). No new results. Text is truncated.
10 Nov 2022investor presentation● Neutral
This is Vintage Energy's own Noosa conference presentation, covering its Cooper Basin Vali gas start-up (first gas expected December 2022) and reserves. It carries no new COI information, though Vintage is COI's Galilee Basin partner. Text is truncated.
