COMET RIDGE LIMITED — Board/Management Information 2010

Jul 5, 2010

ASX ANNOUNCEMENT

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6 July 2010

COMET RIDGE APPOINTS OIL AND GAS SPECIALIST TO NEW ROLE

Comet Ridge Limited (ASX Code: COI) today announces the appointment of oil and gas industry specialist Martin Lee to the newly created role of Chief Commercial Officer as part of its strategy to pursue growth opportunities.

Mr Lee has worked with oil and gas majors including Woodside in Australia, and Hardy Oil and Gas and Petro-Canada internationally. His appointment with Comet Ridge is effective immediately and he will be based in the corporate head office in Brisbane.

Comet Ridge Limited Managing Director Tor McCaul today said Mr Lee had previously worked on a consultancy basis with Comet Ridge at regular intervals since 2008.

“We are delighted Martin is joining us on a full-time basis in the role of Chief Commercial Officer,” Mr McCaul said.

“Martin brings considerable and broad experience in LNG, domestic gas sales, mergers and acquisition and upstream exploration that will be invaluable to Comet Ridge over the next few years. This appointment is very significant in terms of our plans to drive Comet Ridge’s growth and development opportunities.”

Mr Lee holds degrees in both Engineering and Economics from Monash University and has 18 years’ experience in the broader oil and gas industry, primarily in commercial roles. He commenced his career with Woodside, working on the North West Shelf LNG project where he was involved in all commercial aspects of the business.

Mr Lee later spent several years working in London for Hardy Oil and Gas and Petro-Canada on projects in the North Sea, North Africa, North America, the Middle East, South East Asia and Australia. This was focussed most notably on LNG and domestic gas projects, merger and acquisition opportunities, and investment decision making for oil and gas exploration.

Immediately before joining Comet Ridge, Mr Lee worked as a consultant to Santos on their Gladstone LNG Coal Seam Gas project.

COMET RIDGE LIMITED - OVERVIEW

Comet Ridge Limited is a Brisbane based, ASX-listed (ASX Code: COI) coal seam gas (CSG) exploration and development company with a focus on Queensland, NSW and New Zealand. The

ASX CODE: COI

GPO Box 798 Brisbane Qld 4001 Australia Phone: +61 7 3221 3661 Facsimile: +61 7 3221 3668

Comet Ridge Limited ABN 47 106 092 577 E-mail: comet@cometridge.com.au Website: www.cometridge.com.au

ASX ANNOUNCEMENT

Company also has exposure to prospective conventional oil and gas fields in the United States via a joint venture.

The Company has several projects in various stages of maturity. Comet Ridge Limited plans to grow shareholder value through the establishment and development of gas reserves from the significant resource potential of its projects.

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Stephen Rodgers Company Secretary Comet Ridge Limited

For further information please contact:

Media: Tor McCaul Rhyll Cronin Managing Director Associate Comet Ridge Limited Three Plus tor.mccaul@cometridge.com.au rhyll@threeplus.com.au +61 7 3221 3661 0412 846 202

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