The Coal Seam Gas (CSG) Sector is currently experiencing...

The Coal Seam Gas (CSG) Sector is currently experiencing increased interest following the decision announced over the weekend by Queensland Gas Corporation that it had made a financial investment decision to proceed with QCLNG, the first CSG LNG Project in Queensland. The Company also notes the coverage in the Australian Financial Review on Monday 1 November in relation to smaller cap CSG companies.
There are a number of other factors which may impact market perceptions of Comet Ridge?s long term value:
Market speculation that the Santos GLNG and APLNG projects will reach FID (final investment decision) by the end of the year;
The Company?s recent Announcement of 25 October in relation to a Contingent Resources booking in ATP 337P Mahalo where the Company shares equity participation with both Santos and APLNG;
The Company?s recent Announcement in relation to doubling of equity in PEL 428 Gunnedah Basin to 40%;
Comet Ridge?s statement in its announcement of 25 October and in its quarterly report released on 28 October that the company is working towards obtaining a resources booking in ATP 744P Galilee Basin in the near future.