Comet goes full Mahalo for CSG project
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.