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.
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.