COMET RIDGE LIMITED — Major Shareholding Notification 2004

Apr 20, 2004

Comer Ridge 230404.doe

21 April 2004

Mr Andy Lydyard Comet Ridge Limited Level 10 International House 26 St George's Terrace Perth WA 6000

Dear Andy

NOTICE OF INITIAL SUBSTANTIAL SHAREHOLDER

I attach for your attention Notice of Initial Substantial Shareholder on behalf of Kolmar Limited and Strike Energy Pty Ltd shareholdings.

Yours faithfully PERILYA LIMITED

JOHN TRAICOS Company Secretary

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	COMET RIDGE LIMITED
ACN/ARSN	ACN 106 092 577
1. Details of substantial holder (1)
Name	KOLMAR LIMITED
ACN/ARSN (if applicable)	ACN 009 232 464

The holder became a substantial holder on

19 $\gamma$ 04 $\gamma$ 2004

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a refevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary Shares	9,921,552	9.921.552	16.22%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Kolmar Limited	Registered Holder	8,993,779 Ordinary Shares
Strike Energy Pty Ltd	Registered Holder	927,773 Ordinary Shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Kolmar Limited	Kolmar Limited	Kolmar Limited	8,993,779 Ordinary Shares
Strike Energy Pty Ltd	Strike Energy Pty Ltd	Strike Energy Pty Ltd	927,773 Ordinary Shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest.	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash.
Kolmar Limited	19 December 2003		紫	4,029,471 Ordinary Shares
Kolmar Limited	29 December 2003	645,360.04		4,964,308 Ordinary Shares
Strike Energy Pty Ltd	19 December 2003		*	415,669 Ordinary Shares
Strike Energy Pty Ltd	29 December 2003	66,573.52		512,104 Ordinary Shares

* Entitlement as a shareholder in Strike Oil NL

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
[Strike Energy Pty Ltd (ACN 078 343 094)	Wholly owned subsidiary of Kolmar Limited

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Kolmar Limited	Level 2, 31 Ventnor Avenue, West Perth WA 6005
Strike Energy Pty Ltd	Level 2, 31 Ventnor Avenue, West Perth WA 6005

Signature

	print name JOHN TRAICOS	Capacity COMPANY SECRETARY
sign here		/2004 date 21 / 04

DIRECTIONS

• $\left( 1\right)$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the refevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out 份 the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to $\langle b \rangle$ which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• $(9)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.