COMET RIDGE LIMITED — Board/Management Information 2007

Nov 7, 2007

ASX CODE: COI

ABOUT COMET RIDGE

The Company Announcement Officer Australian Stock Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 By Electronic Lodgement

APPOINTMENT OF US BASED DIRECTOR

The Board of Directors of Comet Ridge Limited is pleased to announce the appointment of Mr. David Bradshaw to the board effective immediately. Mr. Bradshaw, who is a resident of Denver, Colorado, has an accomplished 30 year career that includes his being CEO and Chairman of the Board of US based Tipperary Corporation, a public energy company listed on AMEX, from 1996 through 2005. Tipperary was majority owner of the very significant Fairview coal seam gas field in eastern Queensland. During his tenure as CEO and Chairman of Tipperary, the Company’s proved gas reserves grew from 37 BCF to 581 BCF. In 2005, when the company was sold to Santos Limited in a transaction valued at approximately AUD$600 million, the Company had proved plus probable gas reserves in excess of 1.3 TCF. Beginning in early 2002, Tipperary served as operator of the Australian coal seam gas property and had also owned numerous operated and non-operated properties throughout the midcontinent of the US.

Prior to joining Tipperary in 1986, Mr. Bradshaw was a partial owner and officer of a private oil and gas company that specialized in structuring drilling partnerships. Mr. Bradshaw received his CPA in 1978, an MBA from Texas A&M University in 1977 and a BBA, Accounting from Texas A&M University in 1976 and worked for three major accounting firms including Price Waterhouse.

Mr. Bradshaw brings a unique experience base to the board with a wealth of hands-on US public company experience as well as extensive knowledge of the energy business in North America and Eastern Australia. He brings with him an extensive network of industry contacts and is expected to be able to broaden the Company’s reach as far as the capital markets and deal flow are concerned.

Mr. Bradshaw currently serves on the board of Triangle Petroleum Corporation, a US public energy company with properties in the US and Canada. He has also provides management consulting services to the industry in the US and Canada.

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JEFFREY W.SCHNEIDER Chairman Comet Ridge Limited

Comet Ridge is an Australian-listed oil and gas explorer transitioning to producer with projects in Australia & USA

The Company’s strategy is to control large acreage positions covering oil and gas opportunities in mature fields and in proven, but overlooked, basins. As much as possible, it operates these projects in order to directly control desired outcomes.

Comet Ridge draws on considerable prior experience in the USA to develop its Pacific Northwest & Rocky Mountain projects

Comet Ridge is also advancing a number of key projects in Australia

USA

Pacific Northwest

• Grays Harbor (100%)

• Chehalis Basin (40%)

Rocky Mountains

• Florence (39%)

• Tow Creek (37.5%)

• Bear River (33.75%)

AUSTRALIA Queensland

• Mahalo (40%)

• Galilee Basin (100%)

New South Wales

• Gunnedah Basin (60 – 70 %)

ASX CODE: COI

ASX Listed: ……………….19 April 04 Shares on issue: ………..104 million Unlisted options: ……… 9.9 million Top 20: …………………… 44% Directors: ………………… 12%