Comet Ridge Says Dates for Conditions Precedent for Gas Sales Agreement Extended

MT Newswires Live

May 26

Comet Ridge (ASX:COI) said the dates of the two remaining conditions precedent for the gas sales agreement with CleanCo Queensland have been extended to March 31, 2026, according to a Monday Australian bourse filing.

Comet Ridge and CleanCo agreed to amend the date for the conditions to more closely align with an expected final investment decision for the Mahalo joint venture gas project in the Bowen basin.

The conditions relate to the firm securing finance and gas transportation/processing deals to satisfy the supply requirements under the agreement.

The project is currently in front-end engineering design with Santos (ASX:STO) for the compression, gas wells, and gathering system, and with Jemena for the pipeline connection.

The parties also agreed for gas supply to commence under the agreement in 2027 at a lower gas rate over the first nine months.

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