Ann: Comet Ridge Issues Share Purchase Plan, page-4

The share price has not tanked – it doubled over the previous two months to reflect progress at Mahalo and still retains much of that uplift.

Now that the rigs at Mahalo have been released and with the new share placement successfully raising $10m at 23.5 cents - the share price has merely drifted slightly.

Everyone’s eyes are now focussed on the 2P reserve upgrade at Mahalo which is expected after the anticipated increase in flow rates have been assessed.

Currently we sit at 30PJ of 2P and we are shooting for 100+ PJ of 2P which will be the next big news for us.

Sinking holes in the ground in the correct location is critical – to do so on budget is equally important – with us ticking both boxes - but the ultimate objective has to be to achieve a reserves upgrade which justifies past works with the associated expenditure.

As to Santos and any take-over rumours - our 40% of Mahalo is unaffected.

All looking good to me and no worries if there are those offloading loose shares to a safe pair of hands.