capital · May 22, 2026
Comet Ridge Revises Mahalo Acquisition Terms to $18M Cash Plus Shares
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Comet Ridge (ASX: COI) amended its agreement to acquire a 42.86% interest in the Mahalo Gas Project from Santos QNT Pty Ltd. The upfront cash consideration reduced to $18 million with an additional $10 million in shares subject to shareholder approval and up to $30 million in contingent payments after 10 PJ, 20 PJ, and 30 PJ gas sales milestones. Funding satisfaction date extended to August 14, 2026 and full conditions precedent to September 30, 2026 amid federal gas reservation policy uncertainty.
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