I couldn't agree more with PleaseDYOR's comments, Antiques Of...

I couldn't agree more with PleaseDYOR's comments, Antiques Of Woodstocks or in fact Angry Bears and others. Anyone could be correct in their thinking as the volume of shares being traded at this price point is simply beyond belief. I will attach an analyst chart below comparing our peers in the sector (May 2017) which includes Comet when we had 30PJ's of 2P and prior to our last cap raising (fewer shares on issue). The chart will demonstrate that we had the lowest value applied to our 2P reserves of any company in the sector. Although simplistic in its comparison (I understand some of the other companies in the chart have also revised reserves or are in production) it shows what little value is attributed to the revised reserves of 172 2P's at the current share price. Below the chart I will populate the fields (not all and best I can) used to show our 2P value today..........


Comet Ridge COI.    .30.   674.   202. 172.    $1.17

The maths applied is simple, you divide the current market cap (which is share price .30 x shares on issue 674m =$202m) by the reserves (172pj's) to arrive at the staggering price of $1.17 per 2P reserve. This is obviously much lower than the value of $2.20 for a 2P reserve given in May last year. The most recents deals (last year) of similar companies suggest pricing of between $1.90- $3.70 for 2P's (all well above our current value) BUT none of these had a flow rate comparable to Comets (700 plus now and climbing). Additionally our reserves are uncontracted, making them very desirable to anyone!!  There are many ways of valuing the reserves, 2P,3P or even the C category can be used but all arrive at a similar value and highlight the share price should be at least in the very late .40's or .50's right now!  This company has long been under the radar and understandably with the delays of the past but I expect to hear a great deal more about them in the short term.
My closing thoughts are anyone wanting to make at least 100% in the very very short term and prior to any additional work performed by the company or potential corporate activity (extremely high chance in my opinion) should buy as many shares as this desperate or stupid entity have to sell. I would also encourage anyone to quantify exactly how much 172PJ's of gas is, for example the entire state of Queensland supplied for how many years............. I look forward to a response!