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The latest update is out from Comet Ridge Ltd ( (AU:COI) ).
Santos Limited, a prominent player in the energy sector, has announced the divestment of its 42.86% interest in the Mahalo Joint Venture to Comet Ridge Limited for A$40 million upfront and up to A$20 million in contingent payments. This move, along with the completed sale of its interests in the Petrel and Tern fields to Eni Australia, underscores Santos’ strategy to optimize its portfolio by monetizing non-core assets and focusing on near-term priorities like the Barossa and Pikka projects, ultimately aiming to enhance shareholder returns.
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
Average Trading Volume: 592,517
Technical Sentiment Signal: Sell
Current Market Cap: A$125.6M
Learn more about COI stock on TipRanks’ Stock Analysis page.