# COI - Comet Ridge



## breakeven (8 November 2006)

COI has built some nice areas for CSG in the US and will have an active exploration program before Xmas.  Given the market cap and the tight holding it is a very undervalued company in my opinion.  While the technicals haven't looked impressive of late, COI  appears to have built a base around 30 cents and the move yesterday was impressive in terms of both price and volume.  For those interested in reading up on COI try this site:     

http://www.stockinterview.com/cbm-tips.html


----------



## itchy (1 February 2007)

According to stock analysis by Peter Stracken, tollhurst have comet valued at 95c!
Peter loves COI and constanly reports on them.
Great management with experience in US markets and an excellent, aggressive exploration calender ahead! Not to mention own many of the US stuff with STX, proven experience in the field.
One that could do some serious upwards movement soon.
I'll have to keep my eye on them.


----------



## yogi-in-oz (16 April 2007)

Hi folks,

COI ... chart looking better now, as price lifts off recent lows.

Will be alert for news from COI, over the next couple of days ... 

happy days

 paul




=====


----------



## yogi-in-oz (16 May 2007)

Hi folks,

COI ... today's announcement triggered liftoff for this one,
as traders get set early, before drilling of target, expected
late in 3rd quarter.

 Expecting two positive time cycles, later this month for COI:

      17052007 ..... negative cycle ... finance-related???

      28052007 ..... significant and positive cycle here

      31052007 ..... positive light to shine on COI here ... ???


 08-11062007 ..... negative news expected here

 15-18062007 ..... significant positive cycle ... finance-related???

 22-25062007 ..... minor and negative cycle here ???

      02072007 ..... negative spotlight on COI ..... 

happy days

 paul



-----


----------



## Horace (14 May 2008)

Florence was scheduled for early May, halfway through still no action reported. Anyone know when?? :jump:


----------



## Trader Paul (10 February 2009)

Hi folks,

COI ... has just merged with Chartwell, which has also given it
a cash injection, so we are expecting some very significant
news/moves, over the next couple of weeks ..... 

       16-17022009 ..... 4 x positive time cycles expected here

           23022009 ..... a positive cycle to bring more good news

..... more later.

have a great day

   paul




=====


----------



## Horace (4 September 2009)

COI have just announced they are ready to go on the Gallilee permits targeting 36 trillion cubic feet off CSG. That seems to be quite significant,


----------



## matty77 (18 January 2010)

anything more on this stock? have had a buy reccomendation from someone.  so would be interested on what people now think.


----------



## eddyeagle (18 January 2010)

This one actually caught my eye today from an article in The Bull. Wilson HTM suggested that Comet had a fair bit of upside potential. I will do some research into it.


----------



## grace (2 February 2010)

eddyeagle said:


> This one actually caught my eye today from an article in The Bull. Wilson HTM suggested that Comet had a fair bit of upside potential. I will do some research into it.




Yes, it is on my radar too, but still speculative at present.

Interesting drill in Shoemaker 1.  Depth complete at 698 metres after intersection 20 metres of coal.  Samples of core now taken off for testing.

I will be very interested in the gas sats, permeability etc of that core.  The ASX announcements sometimes miss out on the tech data which is sad for us.

The good news that the depth is not at 1000metres like some in the gallilee.  The shallower the better (not above 200 metres though) but down at 700metres is a nice depth.

Anyway, stay tuned folks.  I am keen to hear how these pioneer drillers go in the new coal seam basin play.  One to keep an eye on IMHO.


----------



## bobowens (5 March 2010)

Hi Grace,:
Been on this for over 6 years.. they just had to go overseas to better them selves, so they said more opportunities, so they sold off Tippon West to Arrow who are making a killing look at ASX AOE

 Now there back here playing around because they couldn't make a go of it in
the USA.
Today 23c not bad eh 3c over 6years.


----------



## bobowens (5 March 2010)

itchy said:


> According to stock analysis by Peter Stracken, tollhurst have comet valued at 95c!
> Peter loves COI and constanly reports on them.
> Great management with experience in US markets and an excellent, aggressive exploration calender ahead! Not to mention own many of the US stuff with STX, proven experience in the field.
> One that could do some serious upwards movement soon.
> I'll have to keep my eye on them.




Yeh right.. the same Peter Stracken 3years ago said GDN would go to $10
what is it now 0.72 boy o boy what a sucker I was.. wouldnt beleive any of them.


----------



## quarky (29 March 2010)

bought a small parcel of COI stocks.

COI closed in at 0.335 which is a movement of *$0.050* (*+17.241%*)


they were mentioned in an interview as "with potential", on CSG on Inside Business (ABC - 28/03/2010).

>> http://www.abc.net.au/insidebusiness/




> JOHN YOUNG: Favourite stocks until recently were Arrow, obviously it had a very large material resource base and I think had a very promising future, that processes, the acquisition processes is now rolling forward. We still like that stock.
> 
> In the emerging producers we are focussed on companies like Bow Energy, that's a small coal seam gas company with a growing reserve base, *Comet Ridge* is a company that is at an earlier stage of development but I think shows potential.
> 
> source:  http://www.abc.net.au/insidebusiness/content/2010/s2858134.htm





so, with ca$h in the bank and hopes of the wet weather clearing up, more appraisal drills in the tenements are planned this month and going into April, when heavy vehicle road access in the permit areas is possible.




> *Comet Ridge Updates On Galilee Basin Exploration Activities*
> Published: 01-Mar-2010
> 
> Comet Ridge has updated on its current exploration activities in both the Galilee Basin in central Queensland and on its pilot project in PMP50100 West-coast, New Zealand.
> ...


----------



## quarky (29 March 2010)

*ABC "Inside Business" Interview With COI CEO (28/03/2010)*

here's the transcript of the interview with COI's CEO, Tor McCaul




> *Asia buzzing around LNG industry*
> 
> ALAN KOHLER, PRESENTER: Speaking of Comet Ridge, here's its CEO Tor McCaul, currently perforating 3.6 million acres of Queensland with holes looking for gas.
> 
> ...



source:  http://www.abc.net.au/insidebusiness/content/2010/s2858136.htm


----------



## quarky (30 March 2010)

still taking time in QLD after the 'wet weather'...but NZ well was spudded, so that's alright news.


ASX Announcement - 30 March 2010

_
*OPERATIONAL UPDATE - NEW ZEALAND PILOTS AND GALILEE BASIN DRILLING*

Comet Ridge Limited (ASX Code: COI) is pleased to report on the Company’s current exploration activities in both its pilot well project in PMP50100 Westcoast, New Zealand and the Galilee Basin in central Queensland.


*PMP 50100 – Westcoast, New Zealand (Comet Ridge Group: 20% increasing to 50%)*
The Macdonald 6P pilot production well was spudded at 07:00 hrs (NZ time) on Tuesday 30 March near Greymouth in New Zealand with Horizon Drilling’s Rig 11. Two pilot production wells, Macdonald 4P and Macdonald 6P, will be drilled to access Coal Seam Gas (CSG) from the Brunner Formation and also to evaluate the deeper Paparoa Formation for gas production potential.

Initially the surface hole for both wells will be drilled in turn, to approximately 150 metres and then, after casing is set, each well will be drilled to an estimated total depth of up to 1200 metres. The wells are to be completed with pumps installed to allow lifting of the water from the coals.

Work on installing gas and water flowlines and treatment facilities for produced water is well advanced. Field installation of these facilities and pipelines will follow the drilling and completion of the two pilot production wells. A map indicating the location of these wells is attached.

Comet Ridge Limited’s Managing Director, Tor McCaul said commencement of the pilot wells was a significant milestone in the Company’s development and the culmination of many months of work by the exploration team.

This drilling and pilot testing operation is being operated by Chartwell NZ Pty Limited, a wholly-owned Comet Ridge Limited subsidiary, as part of the Phase 2 Farm-in programme which will earn the Company a further 30 per cent equity interest in PMP 50100.

Chartwell NZ Pty Ltd is the operator of PMP 50100 and currently holds a 20 per cent equity stake in the permit with the remaining 80 per cent being held by Macdonald Investments Limited.


*ATP 743P & ATP 744P – Galilee Basin – Central Queensland (Comet Ridge: 100%)*
Since the two Galilee Basin exploration permits were awarded to Comet Ridge late last year, one exploration well has been drilled in each of ATP 743P and ATP 744P to increase the understanding of the significant CSG potential of these blocks.

The second of these wells, Shoemaker 1, was drilled in the central portion of ATP 744P, intersecting approximately 20 metres of coal and a significant section of carbonaceous mudstone. Two successful drillstem tests were run over coal intervals before the well was plugged and abandoned as planned and the rig released.

Due to the influence of cyclone Olga and the heavy rainfall in the central Queensland area, a resumption of drilling operations has not yet been possible. However, the area is now drying out and the Company expects to resume drilling operations shortly.

Although the next exploration well in the programme had been expected to be Tuttle 1, located approximately 17km to the south of Shoemaker 1, road conditions in that direction are poor. Subsequently it has been decided to drill the next well at Montani 1, approximately 20km northwest of Shoemaker 1 where road access is possible.

_


----------



## quarky (28 April 2010)

*Comet Ridge Provides Operations Update* 
Tuesday April 27, 2010

Comet Ridge provided its current exploration activities in the Galilee Basin in central Queensland and on its pilot production project in PMP50100 Westcoast, New Zealand update, reporting at ATP 744P, Galilee Basin, after a significant delay in the Galilee Basin exploration programme due to wet weather, the Montani 1 coal seam gas exploration well, commenced drilling at 0000 hours on 26 April. At 0600 hours on 27 April the well was at a depth of 207m having run and cemented the 7" casing to 205m. The well is planned to take approximately 16 days to drill and is expected to reach a total depth of approximately 950m. At PMP 50100, NZ, at 0600 hours on 27 April, the Macdonald 4P pilot production well was at a depth of 290m and drilling ahead. Drilling recommenced on 26 April after being suspended temporarily while the drilling contractor made upgrading modifications to the rig. Two pilot production wells, Macdonald 4P and Macdonald 6P, are currently being drilled to access CSG from the Brunner Formation and also to evaluate the deeper Paparoa Formation for gas production potential.


----------



## bobowens (13 July 2010)

Hi,
Has anyone heard whats happening with Florence Oil Fields and Grays Harbour
that this mob is involved in.
Nothing since ,09
Bob


----------



## bobowens (12 October 2010)

Hi to all those who hold COI..can anyone tell me the several projects in "VARIOUS STAGES OF MATURITY" that T.McCAUL boss of COI keeps on waffling about:

BOB


----------



## quarky (1 November 2010)

====================================
*0.200* *+0.050 (33.33%)* 
Nov 1 - Close 

Open  0.15 
Range  0.15 - 0.20 
52 week  0.14 - 0.41 
====================================

Comet Ridge up 33.33% today and looks like a lot of buyer interest in it, with options issued to the Chief Commercial Officer exercisable at 50 cps & 65cps next year.

Anyone know any other news and where this is going?

Been holding shares from the highs of April 2010, at 33cps


----------



## grace (1 November 2010)

quarky said:


> ====================================
> *0.200* *+0.050 (33.33%)*
> Nov 1 - Close
> 
> ...




There was an announcement a couple of days ago in relation to PJ's of contingent resources, and also, there is BG spending big bucks in Gladstone.  I was hoping this one would stay off the radar for a little while longer.


----------



## pan (2 November 2010)

Up another 30% today. Got a please explain from the asx but said there was nothing up. nearly 80% in 2 days.


----------



## Dukey (2 November 2010)

grace said:


> There was an announcement a couple of days ago in relation to PJ's of contingent resources, and also, there is BG spending big bucks in Gladstone.  I was hoping this one would stay off the radar for a little while longer.




Just happened to be sitting around looking at tweaking investments this morning (a rare morning off wk) and stunned by COI's jump yesterday and again this morning...
Have been sitting on some COI for some time - and certainly they seem to be making good progress recently, but 15c to ~25 is quite a jump in a little over a day.
Anyone know what's going on here... volumes aren't huge - 
1.4 mill shares yesterday.
-d (still here - sometimes )


----------



## Trader Paul (2 November 2010)

Hi folks,

COI ..... a sharp rally over the past two days, albeit on low volume, but 
our astroanalysis looks positive for COI, especially in March/April 2011, 
when we expect some significant news/moves, out of this camp ... 

Looking ahead:

     10-11112010 - another gap up ... ???

         15112010 - positive news expected here.

         02122010 - a positive spotlight on COI 

         16122010 - a difficult aspect here - finances ???

    20-21122010 - a negative cycle in play

         31122010 - a negative spotlight on COI

         17012011 - positive cycle - finances ???

         21012011 - negative news expected here

     28-31012011 - 2 x minor and positive time cycles

         10022011 - minor and positive news expected here

         14022011 - negative aspect here

    25-28022011 - 2 minor and positive cycles

    07-10032011 - 3 x significant and positive cycles (a BIG move here???)

        15032011 - major and positive news expected here.

        31032011 - a positive spotlight on COI 

        04042011 - minor cycle

    14-15042011 - major and positive cycle expeted here

        29042011 - 2 x positive cycles ..... finances ???

..... more on COI, later.

have a great day

    paul



=====


----------



## quarky (2 November 2010)

in today's reply to ASX's "speeding ticket"...
_
*5. Is there any other explanation that the Company may have for the price change in the Securities of the Company?*

The Coal Seam Gas (CSG) Sector is currently experiencing increased interest following the decision announced over the weekend by Queensland Gas Corporation that it had made a financial investment decision to proceed with QCLNG, the first CSG LNG Project in Queensland.

The Company also notes the coverage in the Australian Financial Review on Monday 1 November in relation to smaller cap CSG companies.


There are a number of other factors which may impact market perceptions of Comet Ridge’s long term value:


Market speculation that the Santos GLNG and APLNG projects will reach FID (final investment decision) by the end of the year;
The Company’s recent Announcement of 25 October in relation to a Contingent Resources booking in ATP 337P Mahalo where the Company shares equity participation with both Santos and APLNG;
The Company’s recent Announcement in relation to doubling of equity in PEL 428 Gunnedah Basin to 40%;
Comet Ridge’s statement in its announcement of 25 October and in its quarterly report released on 28 October that the company is working towards obtaining a resources booking in ATP 744P Galilee Basin in the near future.
_

looking good! 

a lot more upside to this stock, to push it past its 52-week highs.


----------



## Miner (19 March 2011)

Trader Paul said:


> Hi folks,
> 
> COI ..... a sharp rally over the past two days, albeit on low volume, but
> our astroanalysis looks positive for COI, especially in March/April 2011,
> ...




Hi Trader Paul

An updated commentary reflecting the time linesfor COI  will be appreciated 
Would full moon affect the market on Monday ?

Cheers


----------



## springhill (29 July 2012)

MC - $36m
SP - 12c
Shares - 307m
Options - 26m
Cash - $6m

*COMET RIDGE ENTERS STRATEGIC GALILEE BASIN FARM-IN*
• Comet Ridge farms-in to additional 825 km² of acreage in key area of the Galilee Basin
• Farm-in area expands Comet Ridge’s interest in the Gunn Project Area further to the east
• Three Stage farm-in to earn up to 75% of the Lake Galilee Farm-in Area (within ATP 1015P)
• Comet Ridge plans to drill two exploration wells in 4th quarter 2012 to complete Stage 1

*Mahalo Drilling Programme Operations Update*
• Mahalo 3 achieves very positive well results with coal thickness and permeability
• Well cased and suspended to be completed as pilot production well
• Mahalo 6 spudded Sunday 22 July
Comet Ridge announce that the Mahalo 3 well, at its ATP 337P Mahalo asset in Queensland’s Bowen Basin, has returned very positive well results in terms of both thickness of coal intersected and permeability, across the main coal reservoir section. The well lies approximately 260km west of Gladstone in central Queensland and was drilled to target the shallow Bandanna Formation.
The Mahalo 3 well reached a total depth (TD) of 300 metres on Friday 19 July, intersecting a total of approximately eight (8) metres of net coal, with seven (7) metres of this coal in the main Castor-Pollux seam. The Castor-Pollux is the target of the reserves booking plan currently being executed by the joint venture.


*COMET RIDGE ADDS TO GUNNEDAH BASIN ACREAGE POSITION*
• Comet Ridge is paying A$750,000 for Petrel Energy’s interests in PEL 6, PEL 427 and PEL 428
• Existing CSG interests in PEL 427 and PEL 428 increased to 50% and 60% respectively
• Prospective PEL 6 block added to Comet Ridge portfolio
• Santos holds remaining interests, as a result of its acquisition of Eastern Star Gas in 2011

*FROM MARCH QUARTERLY (JUNE NOT RELEASED YET)

**New Zealand Permits:*
PMP 50100 Greymouth Block – West Coast (Comet Ridge 100%)
PEP 50279 Buller Block – West Coast (Comet Ridge 100%)
PEP 50280 North Waikato – Waikato (Comet Ridge 100%)
Over the past several months, Comet Ridge has completed a significant piece of technical analysis across its entire 8,600 km² acreage position in NZ which included the interpretation of the recent aerial magnetic surveys and Airborne Gravity Gradiometry surveys.
This effort also achieved the first coal seam gas contingent resources independently certified on the West Coast of 244 PJ across the Greymouth coalfields.
Comet Ridge has made application to NZP&M (NZ Petroleum and Minerals) to extend the five year licence term for a further five years on both exploration blocks.

*USA*
Comet Ridge Resources LLC (Comet Ridge 17.257%)
During the quarter, Comet Ridge Resources LLC (CRR) continued to bring on line and open up the six new Florence producers that were drilled towards the end of 2011. Company production averaged 930 barrels of oil per day for the quarter.
The Yeti well at Grays Harbor in Washington State is on schedule for drilling in June 2012.
CRR continues to actively evaluate a number of farm-in and acquisition opportunities in the USA.


----------



## springhill (2 August 2012)

*Mahalo Pilot Drilling Programme Concludes Successfully

*
• Successful four well pilot drilling programme concluded with the drilling of Mahalo 5
• Mahalo 5 also intersected main Castor-Pollux coal seam with good permeability
• Mahalo JV (COI 35%) extremely pleased with results and moving to implement pilot production scheme


Comet Ridge Limited  announce that a successful four well drilling programme has been concluded at its Mahalo pilot project in ATP 337P, north of Rolleston in the Bowen Basin in central Queensland. The well results have been very positive, and facilities will now be constructed to develop the first production pilot in the Mahalo area.

The Mahalo field is located approximately 260 km west of Gladstone with Mahalo 5 situated 280 metres to the southwest of Mahalo 3. Mahalo 5 is the fourth and final well in the current pilot drilling programme.

The Mahalo 5 well reached a total depth (TD) of 312 metres on Monday 30 July, intersecting a total of approximately 7.8 metres of net coal, with 6.8 metres of this coal in the main Castor-Pollux seam.

The Castor-Pollux is the target of the reserves booking plan currently being executed by the joint venture. Production casing has been run and cemented in place. The rig is due to be released on 1 August.

Formation flow testing of this well has shown very good permeability.

This result means that all four pilot wells have exhibited good continuity and thickness of coal across the main reservoir section. Comet Ridge Limited Managing Director, Tor McCaul said the joint venture was extremely pleased with the Mahalo drilling results and also the speed, efficiency and safety of the drilling operation.

The JV intends to plan, design and construct the pilot facilities for expected commissioning late 2012.

Pilot well drilling in the Joint Venture’s second pilot, Mira, will be conducted later in the year, followed by a further four core holes to extend the delineation of gas in the block.

The objective of both these pilot production projects is to demonstrate commercial gas flows in ATP 337P Mahalo, with the intention of achieving an early initial reserves certification.


----------



## springhill (2 January 2013)

springhill said:


> MC - $36m
> SP - 12c
> Shares - 307m
> Options - 26m
> Cash - $6m




COI has performed well since this post in July. SP appreciation commenced around the 9th October and has since topped out at a high of 23c on 3rd Dec.
Although I haven't had the time to review their announcements during this period, the news flow has been quite astounding. The directors are certainly earning their remuneration. Well done.

Todays announcement here.
http://www.asx.com.au/asxpdf/20130102/pdf/42c7kwfzhmh9n8.pdf

COI layout (as of Sept quarter)
MC - $78m
SP - 19.5c
Shares - 402m
Options - Nil Quoted
Cash - $13.5m


----------



## Cam019 (3 April 2017)

Thursday saw a gap up closing on the days high with very high volume (effort). Today we had a wider range up bar on above average volume closing again on the days high. Nothing alarming yet. Would like to see a test for floating supply.


----------



## frugal.rock (14 March 2022)

A ten year chart. Increased volume over the last 2 trading days. Small.
10 year monthly chart.


----------

