Comet Ridge says Mahalo North pilot test achieves objectives
Sydney-listed Comet Ridge on August 31 said that the Mahalo North 1 pilot test in Queensland will be scaled down now that the company has confirmed “very high productivity from the evaluated area”.
“This pilot test has provided us with the high-quality data we need to commence development planning. Most importantly, we have confirmed the Mahalo North 1 well (working as a single pilot test) has successfully drained a large area of reservoir and we therefore expect production well gas recoveries to be high. Final operations at the Mahalo North 1 well site will be winding down by the end of this week,” Comet Ridge managing director Tor McCaul said.
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Comet Ridge’s focus for Mahalo North will now turn to finalising the necessary work to support a petroleum lease application, including gas reserves and resource certification and the completion of environmental fieldwork.
The Mahalo North 1 pilot well is located in ATP 2048 where Comet Ridge holds 100% equity. Comet Ridge has tenement interests and a suite of prospective projects in Queensland and New South Wales. Its flagship Mahalo gas hub project consists of natural gas blocks close to Gladstone in Queensland.