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The latest update is out from Comet Ridge Ltd ( (AU:COI) ).
Comet Ridge Ltd has reported significant progress in the development of its Mahalo Gas Hub projects, with the Front End Engineering Design (FEED) advancing for both upstream and pipeline components. The company has achieved independent certification of substantial gas reserves at Mahalo East and is moving towards a Final Investment Decision (FID) for the Mahalo JV Gas Project. The completion of these developments is expected to enhance Comet Ridge’s position as a key supplier in the east coast gas market, addressing the region’s gas supply challenges.
The most recent analyst rating on (AU:COI) stock is a Hold with a A$0.21 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 Ltd operates in the energy sector, focusing on the exploration and development of natural gas resources. The company holds significant interests in the Mahalo Gas Hub area in Queensland, Australia, aiming to supply the east coast gas market, which faces a structural shortage due to declining offshore fields and sustained demand for gas in manufacturing and power generation.
Average Trading Volume: 828,198
Technical Sentiment Signal: Sell
Current Market Cap: A$179.5M
For a thorough assessment of COI stock, go to TipRanks’ Stock Analysis page.