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Comet Ridge First Pilot Well Confirms Presence of Productive Coals

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Australia-listed Comet Ridge revealed Wednesday that the drilling results from its coal seam gas pilot well, Mira 3, at its ATP 337P Mahalo asset in Queensland’s Bowen Basin "have been positive."

In its disclosure, Comet Ridge said that the well – which was drilled to a depth of 1,050 feet (320 meters) – intersected 29 feet (8.9 meters) of coal over four, closely spaced intervals in the Castor Pollux reservoir.

"Wire testing was conducted on all four of these coal intervals. The results indicate good to excellent coal productivity at this pilot location," Comet Ridge said.

Mira 3 is the first well in an eight-well program for the Mahalo joint venture and the first of four pilot wells in the Mira field. The drilling program started on the block is part of the JV’s ongoing efforts to further define the extent and quality of coal in the Mahalo block.

Comet Ridge is also in the midst of constructing field facilities and tanks needed at the Mahalo pilot, it disclosed at an annual general meeting address in November. The company is targeting for start-up of the facilities this year.

Comet Ridge holds a 35 percent stake in the permit, while Santos and APLNG each hold a 30 percent stake. Stanwell Corporation, which retains an option to increase its share in the project, holds the remaining five percent stake.

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