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Comet Ridge Limited (ASX:COI)

ALERT: Price-sensitive ASX Announcement for COI
Current share price for COI : $0.088 -0.037 (-29.60%)+
Release
31 Oct 2025 9:44AM
Price at Release
$0.125
Full Release
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Summary
Comet Ridge Limited's September 2025 quarterly activities report highlights progress in the Mahalo Gas Hub developments, including the Front End Engineering Design (FEED) for both upstream operations and the pipeline connection managed by Jemena. The Mahalo East project received independent certification of substantial gas reserves, adding significantly to Comet Ridge's portfolio. The company reported ongoing engagements for project and corporate transactions and ended the quarter with $10.6 million in cash. The cash flow report indicates net cash used in operating and investing activities, with exploration and evaluation activities being a major expenditure.
Key Points
  • Mahalo Joint Venture upstream FEED progresses with Santos.
  • Jemena continues FEED for Mahalo Gas Hub pipeline connection.
  • Independent certification of Mahalo East Reserves.
  • Comet Ridge submits Mahalo North EPBC referral.
  • Engagement in project and corporate level transactions.
  • $10.6 million cash at the end of the quarter.
  • Comet Ridge holds 100% equity in four Mahalo Gas Hub projects.
  • Final Investment Decision expected post-FEED completion.
  • September quarter saw significant exploration and evaluation expenses.
  • Current cash position at $10.6 million, down from previous quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.