Comet Ridge Consolidates Full Control of Mahalo Gas Hub
Comet Ridge Limited (ASX: COI) has entered a binding agreement to acquire Santos QNT Pty Ltd’s 42.86% interest in the Mahalo Gas Project, lifting its ownership to 100% on completion and securing operatorship of the entire Mahalo Gas Hub. The transaction involves AU$40 million in firm consideration, payable at Final Investment Decision or by 30 June 2026, alongside up to AU$20 million in contingent payments linked to early production milestones.
Full consolidation significantly strengthens Comet Ridge’s position in the east coast domestic gas market, with combined 2P Reserves and 2C Resources rising to 677 PJ. The simplified ownership structure enables more efficient development planning, improved capital allocation and complete strategic control across the 1,850 km² hub, where key development approvals and engineering work are already well advanced. Management highlighted that the acquisition removes joint venture complexities and enhances funding flexibility, with advanced discussions underway to finance both the transaction and future development, positioning Mahalo as a meaningful long-term domestic gas supply source.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Comet Ridge Consolidates Full Control of Mahalo Gas Hub
Comet Ridge Limited (ASX: COI) has entered a binding agreement to acquire Santos QNT Pty Ltd’s 42.86% interest in the Mahalo Gas Project, lifting its ownership to 100% on completion and securing operatorship of the entire Mahalo Gas Hub. The transaction involves AU$40 million in firm consideration, payable at Final Investment Decision or by 30 June 2026, alongside up to AU$20 million in contingent payments linked to early production milestones.
Full consolidation significantly strengthens Comet Ridge’s position in the east coast domestic gas market, with combined 2P Reserves and 2C Resources rising to 677 PJ. The simplified ownership structure enables more efficient development planning, improved capital allocation and complete strategic control across the 1,850 km² hub, where key development approvals and engineering work are already well advanced. Management highlighted that the acquisition removes joint venture complexities and enhances funding flexibility, with advanced discussions underway to finance both the transaction and future development, positioning Mahalo as a meaningful long-term domestic gas supply source.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au