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.
COI Price at posting:
19.2¢ Sentiment: Buy Disclosure: Held
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