Comet Ridge Limited (COI) - Favourable market to develop gas (Petra 1/5/2024)
COI’s Mahalo Gas Hub is strategically located in the Tier 1 jurisdiction of QLD and is at the forefront of new CSG developments able to supply the looming domestic gas deficits. Timelines for key State (EA, PL) & Federal (EPBC) approvals for Mahalo North are shifting to the right (prev. mid-2024, now end-2024); in the meantime, COI is advancing design work to become development ready.
The east coast gas sector is a bankable thematic – deficits looming, contract prices improving, and govt’s intervening to extend fossil fuel-based electricity (after previously only subsidising renewables).
Maintain BUY, PT A$0.35/sh (prev. A$0.38/sh) after deferring first production.
Comet Ridge Limited (COI) - Favourable market to develop gas...
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Last
18.5¢ |
Change
-0.010(5.13%) |
Mkt cap ! $204.9M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 19.0¢ | 18.5¢ | $30.12K | 160.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 376130 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 50000 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| COI (ASX) Chart |