Latest Comet Ridge (ASX:COI) News

Comet Ridge is set to consolidate 100% ownership of the Mahalo Gas Project, securing key environmental approvals and advancing engineering design and funding efforts to boost east coast gas supply.

Comet Ridge Limited has obtained federal environmental approval for its Mahalo North natural gas project, paving the way for expanded development in Queensland’s Bowen Basin. This milestone complements recent ownership consolidation and state approvals, positioning the company to boost east coast gas supply.

Comet Ridge Limited is set to acquire Santos’s 42.86% stake in the Mahalo Gas Project, consolidating full ownership and operator status. This move significantly increases the company’s gas reserves and positions it to better serve the east coast domestic gas market.

Comet Ridge has made significant progress in its Mahalo Gas Hub development, advancing engineering design and securing independent certification of substantial gas reserves. The company is moving closer to a Final Investment Decision amid ongoing regulatory and commercial negotiations.

Comet Ridge Limited has made significant progress in its Mahalo Gas Hub development, advancing engineering design, certifying substantial new gas reserves, and securing extended financing to support a Final Investment Decision.

Comet Ridge Limited has independently certified 51.8 PJ of 2P gas reserves and 118.5 PJ of 3P reserves at its 100% owned Mahalo East Project, significantly expanding its gas portfolio in Queensland’s Bowen Basin. This milestone advances the Mahalo Gas Hub’s potential as a key new gas supply region for Australia’s east coast.

Comet Ridge Limited reports significant progress on its Mahalo Gas Hub project, with upstream and pipeline FEED studies advancing, robust pilot production at Mahalo East, and active negotiations on gas sales and funding arrangements.

Comet Ridge has made significant strides in its Mahalo Gas Hub development, approving upstream FEED and progressing pipeline connections, supported by a strong cash position of $19.3 million. These developments position the company to address Australia's tightening east coast gas market.