COMET RIDGE LIMITED — Capital/Financing Update 2004

Apr 15, 2004

13 April 2004

MARKET RELEASE TO AUSTRALIAN STOCK EXCHANGE LTD PRE-QUOTATION DISCLOSURE

Please find attached the following documents:-

• Shareholders' distribution schedule; $1)$
• Top 20 Shareholder listing; $2)$
• $3)$ Updated pro-forma Statement of Financial Position as at 31^st March 2004, based on the \$5 million funds raised, and
• Statement, setting out a summary of the securities, subject to escrow $4)$ arrangements.

We confirm that the Statement of Commitments set out in the prospectus remains unchanged and confirm that all contracts, the subject of the Company's projects, have been finalised.

COMET RIDGE LIMITED

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Andy Lydyard Managing Director

Comet Ridge Limited ACN 106 092 577

Level 10, International House 26 St George's Terrace, Perth, Western Australia 6000

61 8 9225 7108 Phone: Facsimile: 61 8 9225 4448

H (RSP510:16.26:080404) PAGE	× * TOTAL		148	351	499		42180740	18977500	61158240		女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女	$16***$ 长女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女女 I A A A A A A A A A A A A A A A A A A A
* * *
08/04/2004
RANGE OF UNITS SUMMARY	$\frac{5}{2}$ 100001	(MAX)	$\frac{3}{4}$	$^{\rm 22}$	59		38464881	8101000	46565881
RUN NUMBER 0024	$\frac{5}{4}$ 10001	100000	$\frac{8}{8}$	243	331		3545859	10016500	13562359
***	50 5001	10000		17 86	103		170000	860000	1030000	499	61158240
	$\overline{t}$ o .001	5000										I
CRP/COMPUTERSHARE INVESTOR SERVICES PTY LTD COMET RIDGE LIMITED/COI	$^{0}_{0}$	1000 *G1/ORDINARY SHARES	rsuer Holders	Chess	Total	Units	Issuer	Chess	Total	TOTAL HOLDERS FOR CLASSES SELECTED	TOTAL UNITS	**** NUMBER OF PAGES WRITTEN

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	$ * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ PTY LTD CRP/COMPUTERSHARE INVESTOR SERVICES COMET RIDGE LIMITED/COI	RUN NUMBER 0024 $\circ$ $\mathbf{\hat{c}}$ $\mathbf{p}$ $\circ$	15/03/2003 L D E R S $\circ$ $\mathbb{Z}^4$	$\begin{array}{l} \ast \ \ast \ \ast \end{array}$		(RSP520:16.25:080404) PAGE:
ALL CLASSES HOLDER NO	NAME AND ADDRESS		UNITS	I/C æ	RANK
	Ю 31 VENTNOR AVENUE WEST PERTH WA 600 KOLMAR LIMITED LEVEL 2		8,993,779	14.71	$\overline{\phantom{0}}$
	LEVEL 10 INTERNATIONAL HOUSE 26 ST GEORGE'S TERRACE STRIKE OIL NL PERTH WA 6000		6,250,000	10.22	$\mathbf{\Omega}$
	A/C PERPETUAL TRUSTEES AUSTRALIA $\sharp$ <macquarie investment9 CASTLEREAGH STREET SYDNEY NSW 2000 LIMITED		2,526,154	4.13	$\sim$
	$\hat{c}$ <durrant aWATERFORD WA 6152 14 ROSCREA CLOSE PONTIA PTY LTD		2,000,000	3.27	4
	S & Y ASHTON NOMINEES PTY LTD TLY A/C> KRA NOLHSP NONIS> 47 NAPIER STREET COTTESLOE WA 6011		2,000,000	3.27	ഗ
	<telluride investment="" tel0001AUSTRALIA PERMANENT TRUSTEE SYDNEY NSW 2001 GPO BOX 4270 LIMITED A/C		1,852,377	3.03	$\omega$
	Ю WEST PERTH WA 600 29 ORD STREET ANZOIL NL SUITE 6		1,500,000	2.45	r
	AUSTRALIA 2001 $\sigma$ $\geq$ JP MORGAN NOMINEE ROYAL EXCHANGE NS LOCKED BAG 7 LIMITED		1,250,000	2.04	${}^{\infty}$
	LTD $\overline{\mathbf{r}}$ E, NEFCO NOMINEES GPO BOX W2024 PERTH WA 6001		1,250,000	2.04	Q)

$\frac{1}{2}$

$2.04$

1,250,000

WESTPAC CUSTODIAN NOMINEES
LIMITED
50 PITT STREET
SYDNEY NSW 2000

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$\overline{\phantom{a}}$

	$ * * $ PTY LTD ES 티 CRP/COMPUTERSHARE INVESTOR SERVIC COMET RIDGE LIMITED/COI	RUN NUMBER 0024 $\circ$ $\sim$ $\mathbf{a}$ $\frac{1}{2}$	15/03/2003 S $\alpha$ ß. $\begin{array}{c}\n\Box \ \Box\n\end{array}$ $\circ$ $\mathbb{H}$	$***$		$\mathbf{\Omega}$ (RSP520:16.25:080404) PAGE
HOLDER NO ALL CLASSES	NAME AND ADDRESS		UNITS	I/C oip	RANK
	A/C <smart investmentCF SMART PTY LTD WEMBLEY WA 6014 PO BOX 454		1,000,000	1.64	급
	ഹ CITY BEACH WA 601 SUPARELL PTY LTD 30 SUDBURY WAY		1,000,000	1.64	$12$
	ANZ NOMINEES LIMITED GPO BOX 2842AA MELBOURNE VIC 3001		962,000	1.57	$\frac{1}{1}$
	STRIKE ENERGY PTY LTD C/- PERILYA LIMITED ഗ 31 VENTNOR AVENUE WEST PERTH WA 600 LEVEL 2		927,773	1.52	14
	ى MR ANDREW JOHN LYDYARD MS CHERYL LEE LYDYARD DALKEITH WA 6009 18 VIKING ROAD		900,000	1.47	15
	LTD INVIA CUSTODIAN PTY GPO BOX 4595SS MELBOURNE VIC 3001 $C/-$ M3788304H		869,902	1.42	$\frac{6}{1}$
	LTD CALM HOLDINGS PTY 2 LILLIAN STREET COTTESLOE WA 6011		600,000	0.98	$\overline{17}$
	MCDOUGALL STREET $\overline{H}$ CLEMENT MR ROBERT COLLIN SINGAPORE 120106 BLOCK 106 0		534,615	0.87	18
	CEP HOLDINGS LTD 12777 JONES ROAD TEXAS 77070 SUITE 335 HOUSLON USA		520,299	Б $\frac{8}{10}$	$\frac{9}{1}$
	MS MICHELE DAVIES 1A LILLIAN STREET MR MARK DAVIES &		500,000	0.82	20

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COMET RIDGE LIMITED/COI	CRP/COMPUTERSHARE INVESTOR SERVICES PTY LTD	$ * * $	TOP 20 HOLDERS RUN NUMBER 0024	15/03/2003	***		(RSP520:16.25:080404) $\infty$ PAGE :
ALL CLASSES HOLDER NO	NAME AND ADDRESS			UNITS	3/10	RANK
	COTTESLOE WA 6011
	REPORT TOTAL $+ +$	$ * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $
	REMAINDER ***	$ * * $		36,686,899 24,471,341	59.98 40.02
	GRAND TOTAL $ * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $	***		61, 158, 240 100.00 --------------------------------------- --------------------------------------

,,,,,,,,,,,,,,,,,, TOTAL NUMBER OF CURRENT HOLDERS FOR ALL NAMED CLASSES IS 00000499 --------------------------------------

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Comet Ridge Ltd

Pro-Forma

Statement of Financial Position on Competion of IPO

	Pro forma 31 Mar 2004 \$
CURRENT ASSETS
Cash assets Receivables Other assets	4,762,942 35,262 21,382
Total current assets	4,819,586
NON-CURRENT ASSETS
Exploration and evaluation expenditure Plant & equipment	3,230,801 9,876
Total non-current assets	3,240,677
Total assets	8,060,263
CURRENT LIABILITIES Accounts payable and borrowings Provisions	210,765 4,444
Total current liabilities	215,209
Total liabilities	215,209
NET ASSETS	7,845,054
EQUITY Contributed equity Current period loss	8,041,672 196,618
TOTAL EQUITY	7,845,054

Comet Ridge Limited Summary of Issued Capital Detailing Restricted Securities

Class of Security	Issued Capital	Unrestricted	Restricted 12 months from issue	Restricted 24 months from date of list on ASX	Total Restricted Securities
Ordinary Shares	61,158,240	35.015.356	9.864.020	16,278,864	26 142 884
Options*	5,350,000	$\blacksquare$	1,250,000	4.100.000	5.350.000

* Unlisted and exercisable at 20 cents, expiring 1 December 2006 (Date of Issue 15 January 2004)

Issue Date of Ordinary Shares Restricted for 12 months

Number of Shares	Issue Date
	8,208,633 29 Dec 2003
	155,387 02 Feb 2004
8,364,020
	1.500,000 08 Apr 2004
9,864,020

$\frac{1}{2}$

$\frac{1}{1}$