Just came across this after reading the paper this morning. I loved what I read so I dipped my toes in the water. Seems like Canaccord are keen too:
Comet Ridge's big reserves upgrade is likely the first of many, says Canaccord. Proven and probable reserves at Comet Ridge's Mahalo gas project have jumped by 473% to 172 petajoules, well ahead of Canaccord's expectations and ranking it among one of biggest undeveloped gas reserves on Australia's east coast. "At 989 square meters Mahalo is very large and appraisal activities have really only focused on the northern portion of the block," says Canaccord, moving its price target up 18% to A$0.40/share. With Mahalo close to infrastructure, the domestic gas market stretched and an LNG market tightening rapidly, Canaccord thinks development could be approved toward end-2018. ([email protected]; @dwinningWSJ)
COI Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
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