Comet goes full Ma­halo for CSG project

The Australian Energy Review - - NEWS -

JU­NIOR east coast gas play Comet Ridge has raised $10 mil­lion to fund ap­praisal and pre-de­vel­op­ment pro­grams at its flag­ship Ma­halo project in QLD.

“The com­pany is now well po­si­tioned to con­tinue pur­su­ing its strat­egy of bring­ing ma­te­rial gas vol­umes into the East Coast mar­ket, as quickly as pos­si­ble, from low-cost on­shore as­sets,” Comet Ridge man­ag­ing di­rec­tor Tor Mc­caul said.

Fund­ing will also be used for com­pany costs to­wards the Al­bany sand­stone ap­praisal pro­gram in the Galilee basin, as well as ex­plo­ration and ap­praisals at its other per­mits in the re­gion.

Drilling has in­ten­si­fied in re­cent weeks at Ma­halo, with in­ter­cepts made be­tween its Mira 2 and Mira 6 wells, with hor­i­zon­tal well spuds con­firm­ing de­vel­op­ment po­ten­tial.

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