Comet Ridge Extends Key Conditions on CleanCo Gas Sales Agreement

An announcement from Comet Ridge Ltd ( (AU:COI) ) is now available.

Comet Ridge has secured a mutual extension with CleanCo Queensland for the remaining conditions under their Gas Sales Agreement, moving the deadline to 31 May 2026 for Comet Ridge to obtain project finance and gas transportation and processing arrangements. The company continues active engagement with CleanCo and other potential buyers to optimise gas sales from its Mahalo Gas Hub, a step that underlines its strategy to convert its Queensland gas portfolio into meaningful supply for the tight east coast market and could support its positioning as a key regional gas supplier.

The revised timetable provides Comet Ridge with additional flexibility to finalise critical commercial and infrastructure arrangements that underpin future gas deliveries from Mahalo. This may help de-risk project execution and monetisation of its reserves, while signalling ongoing buyer interest in east coast gas amid sustained domestic demand, which is important for investors and other stakeholders tracking the company’s progress toward first gas and revenue growth.

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 energy company focused on developing natural gas resources for the constrained east coast gas market. The ASX-listed group holds tenement interests and a portfolio of prospective gas projects in Queensland, anchored by its Mahalo Gas Hub near Gladstone, which comprises low-cost, low-CO2 sales specification gas reserves and additional exploration upside.

Average Trading Volume: 950,985

Technical Sentiment Signal: Hold

Current Market Cap: A$167.5M

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