Ann: Results of Comet Ridge Annual General Meetin, page-2

re: Ann: Results of Comet Ridge Annual Genera... The Chairman's clear articulation of the near future suggests the rerating of this company is not all that far off. Comments from players like BG align with this strategy

I believe the Company is very well positioned for growth in the coming year. The last
financial year was tough for the sector with delays in Government approvals for the LNG projects,
perceived environmental problems, tough financial markets and importantly the sector pausing after a
number of incredible boom years fuelled by takeovers as companies positioned themselves for the future.
The next year looks much brighter following Federal Government approval of two LNG projects, BG?s
positive FID and the looming GLNG decision.
Our belief is that whilst there may be sufficient coal seam gas reserves for the planned first trains, the
nature of LNG is that significant profits usually require subsequent trains utilising pre-invested
infrastructure and that there will be either strong demand for third party gas or another round of
consolidation of reserve holders. Comet Ridge?s plan and challenge is to build significant reserves,
particularly in Queensland and NSW.