NEW COMMERCIAL DIRECTOR FOR COMET RIDGE

CHRISTOPHER Pieters has been appointed to the role of Commercial Director at Comet Ridge Limited (ASX:COI) and as a result, share prices have jumped by 6.7per cent to $0.24.

Managing Director Tor McCaul says the move reflects the company’s focus on the conversion of its large gas resource base to reserves.

“A tightening gas market in eastern Australia provides the company with a range of commercial opportunities, and I am very pleased to be working with Chris, in an executive capacity, to drive this focus for the company.”

Pieters has been involved with COI since April 2009 as a non-executive director, and has previously worked with companies such as Tlou Energy Limited and Sunshine Gas Limited.

COI currently has a number of significant Coal Seam Gas projects underway in key regions of Queensland, northern New South Wales and New Zealand, as well as oil and gas interests abroad.

Pieters will provide his services as a consultant at a rate of $2000 per day, effective immediately for a term of four months with an option to extend as required.