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COMET RIDGE LIMITED — Capital/Financing Update 2009
Jun 29, 2009
64686_rns_2009-06-29_b90166f3-10f5-4085-b1a6-d874136f1407.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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30 June 2009
COMET RIDGE SECURES 100% INTEREST IN NEW ZEALAND EXPLORATION BLOCKS
Comet Ridge Limited advises that Crown Minerals has today consented to the transfer of the forty percent (40%) interest held by Macdonald Investments Limited (“MIL”) in the Petroleum Exploration Permits (PEP) 50279 and 50280 to Chartwell NZ Pty Ltd.
Chartwell NZ Pty Ltd, a wholly owned subsidiary of Comet Ridge Limited, now holds a one hundred percent (100%) interest in these exploration blocks with effect from 9 April 2009.
MIL made a strategic decision to withdraw from these exploration permits in order to concentrate resources on the Greymouth (PMP 50100) block, where drilling of a five well coal seam gas pilot scheme will commence in 3Q 2009.
Year 2 of the exploration phase for both PEP 50279 and 50280 is underway, with the Comet group technical team continuing exploration studies work on these large blocks.
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 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:
Or Media Tor McCaul Richard Owen Managing Director Associate Comet Ridge Limited Three Plus [email protected] [email protected] +61 7 3221 3661 0412 869 937
AUSTRALIA
ASX CODE: COI
210 Alice Street Brisbane Qld 4000 Phone: +61 7 3221 3661 Facsimile: +61 7 3221 3668
Comet Ridge Limited ABN 47 106 092 577 E-mail: [email protected] Website: www.cometridge.com.au