Comet Ridge Gets Queensland Acreage

Sydney-listed Comet Ridge has been formally awarded the natural gas acreage ATP 2048 (Mahalo North) in the Southern Bowen Basin in Queensland, it said on April 30 in a statement. Last year, the company was appointed preferred tenderer for the acreage as part of the Queensland government’s tender process. 

Since being awarded the preferred tenderer status, Comet Ridge has obtained the environmental authority (EA) from the department of environment and science and concluded a formal native title agreement with the registered native title claimant.

“These have now been completed, clearing the way for DNRME [department of natural resources, mines and energy] to formally award the block to Comet Ridge Mahalo North Pty Ltd as 100% equity holder,” it said.

According to the company, this is the first block it has held as an operator that is close to infrastructure, with 100% equity. The block sits just north of the Mahalo joint venture area, where Comet Ridge is already 40% equity holder.

Earlier this year, Comet Ridge and engineering firm LogiCamms signed a memorandum of understanding to work together towards a 65-km pipeline connection option from ATP 2048.