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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17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $188.3M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.0¢ | $303.4K | 1.835M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 528521 | 17.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 705000 | 5 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| COI (ASX) Chart |