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Comet Ridge Ltd ( (AU:COI) ) has issued an announcement.
Comet Ridge Limited has announced its acquisition of Santos QNT Pty Ltd’s 42.86% interest in the Mahalo Gas Project, resulting in Comet Ridge holding 100% ownership of the Mahalo Gas Hub. This strategic move allows Comet Ridge to optimize the development of the gas resource, increasing its 2P Reserves and 2C Resources to 677 PJ. The acquisition positions Comet Ridge as a key player in the east coast gas market, with plans to target domestic gas sales and enhance its operational capabilities as the sole operator of the Mahalo Gas Hub.
The most recent analyst rating on (AU:COI) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Comet Ridge Ltd stock, see the AU:COI Stock Forecast page.
More about Comet Ridge Ltd
Comet Ridge Limited is an Australian company operating in the energy sector, focusing on the exploration and development of gas resources. The company primarily targets the domestic gas market in Australia, aiming to contribute significantly to the east coast gas supply.
Average Trading Volume: 592,517
Technical Sentiment Signal: Sell
Current Market Cap: A$125.6M
For an in-depth examination of COI stock, go to TipRanks’ Overview page.