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Comet Ridge Ltd ( (AU:COI) ) has shared an announcement.
Comet Ridge Limited has announced the independent certification of 51.8 Petajoules (PJ) of 2P Reserves and 118.5 PJ of 3P Reserves for its Mahalo East Project. This increase in gas reserves bolsters the Mahalo Gas Hub’s potential as a significant gas-producing region in Australia. Supported by the Queensland Government’s Frontier Gas Exploration Grants Program, this development enhances Comet Ridge’s strategic positioning in the energy market, contributing to a 27% increase in 2P Reserves and a 29% increase in 3P Reserves within the company’s portfolio.
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 Limited is an energy company focused on developing gas reserves in the Mahalo Gas Hub area on the east coast of Australia. The company is engaged in building a substantial portfolio of gas reserves, with a strategic emphasis on coal seam gas (CSG) exploration and production.
Average Trading Volume: 788,877
Technical Sentiment Signal: Sell
Current Market Cap: A$161.5M
See more data about COI stock on TipRanks’ Stock Analysis page.