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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Comet Ridge
Comet Ridge (COI) investor relations material
Comet Ridge H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2026 earnings summary23 Sep, 2026
Executive summary
Achieved 100% ownership of the Mahalo Gas Project after acquiring Santos's 42.86% interest, consolidating control over the Mahalo Gas Hub and adjacent assets.
Certified 2P gas reserves at Mahalo East (51.8 PJ) and 3P reserves (118.5 PJ), boosting total 2P+2C reserves/resources to over 670 PJ.
Completed $40.9 million equity placement and SPP, with additional $9.4 million raised post-year-end, strengthening the balance sheet.
Loss after tax increased to $4.37 million (2025: $2.47 million), including $0.92 million in non-cash items.
Cash balance at 30 June 2026 was $27.7 million.
Financial highlights
Loss after tax: $4.37 million (2025: $2.47 million), driven by higher finance costs and non-cash items.
Cash and cash equivalents: $27.7 million at year-end, up from $13.3 million in 2025.
Exploration expenditure capitalised: $6.8 million (Mahalo Gas Project), $0.9 million (Mahalo North), $0.5 million (Mahalo East).
Net current liabilities: $11.0 million, including CleanCo financial liability and PURE loan.
No dividends declared or paid.
Outlook and guidance
Focus on optimising FEED for Mahalo Gas Project, integrating Mahalo North and East assets toward FID.
Actively pursuing funding options including debt, farm-out, and gas prepay arrangements.
Gas Sales Agreement with CleanCo extended, with new conditions requiring demonstration of gas production and no adverse change to CleanCo's requirements by March 2027.
Ongoing engagement with NAIF for potential debt facility.
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Latest events from Comet Ridge
- Full Mahalo Gas Hub ownership enables low-cost, development-ready gas supply for LNG and domestic markets.COI
Investor presentation - Raised $40.88 million and advanced Mahalo Gas Project acquisition, targeting 100% ownership.COITrading update
- Mahalo Gas Hub, now fully owned, is funded and ready to supply a gas-short east coast market.COIInvestor presentation
- Advanced Mahalo projects and funding, but faces material going concern risk from CleanCo liability.COIH2 2024
- Net 2P reserves up 26% to 247 PJ; FY2025 loss narrows, but funding risks persist.COIH2 2025
- Loss widened to $2.1 million amid project progress, but funding uncertainty persists.COIH1 2026
- Development-ready gas reserves and infrastructure aim to address looming east coast supply gaps.COIAGM 2025 Presentation
- Development-ready gas reserves and infrastructure access target east coast supply gaps.COIInvestor Presentation
- FEED progress, reserve certification, and strong cash position support east coast gas supply plans.COITrading Update
Next Comet Ridge earnings date
H1 20273 Mar, 2027
Comet Ridge
Next Comet Ridge earnings date
H1 20273 Mar, 2027
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Frequently asked questions
Comet Ridge Limited is an Australian energy company. It specializes in the development of natural gas resources, primarily focusing on meeting the demands of the east coast Australian market. The company is actively involved in the exploration and development of natural gas projects, with a significant emphasis on its flagship Mahalo Gas Hub project. This project is strategically located in Queensland, close to the major gas demand center of Gladstone, and includes low cost, sales-spec natural gas blocks that boast significant, low CO2 gas reserves. Comet Ridge Limited is headquartered in Brisbane, Australia, and its shares are listed on the ASX.