COI, page-6

Welcome, I'd also add that at current MC my sentiment would be Hold unless capital is needed elsewhere. Also I've had a bit more time to look over the company and the first assessment might of been a little harsh.

If I was still interested in ASX gas explorers I'd even consider this a high risk buy with a very small initial bid, keeping to a very strict long term investment plan,only averaging up (never down) gradually over time, while keeping amount of total capital exposed to absolute mimimum.

Reason being two fold, Comet could actually start to add value to investors in the near short term if the Mahalo pilot programme starts to pick up a little pace and show promising signs of a good reserve certification. Mainly because they do hold a significant amount of interest in the project and larger gas companies are always going to buy up interest in proven certified reserves especially under current climate for CSG and expectations for the Aus exports ahead..

That might give Comet a considerable cash boost and/or steady revenue to then develop their 100% owned Galilee Basin Gunn Project, which imho could end up being a real jewel in the crown for the company if they have enough capital to fully pilot it for reserves certification.

I see they currently have it at >4m 3/t which isn't bad over 10m is considered high gas content, I think the world average is around 3m so the economics are good to continue especially with the close proximity of good infrastructure.

Secondly in addition to the two projects above, this company has a very strong CSG experienced board and management. Not only that but its good to see a spec explorer board and management team not at exorbitantly high remuneration rates which is normally not the case. Comet team seems to be genuinely focused on moving the companies gas resources forward to reserve certifications which should add considerable value to shareholders equity, possibly within the next 2-3 years.

Certainly one to keep an eye on.

GLTA


Kat.