Comet Ridge Starts Galilee Basin Program

Coal seam gas explorer Comet Ridge Limited has announced that a three-well drilling campaign in the Galilee Basin has started with the spud of the Gunn 2 well. The company holds 100 per cent equity in the permit.

The well is expected to reach a depth of approximately 1,050 meters. Following the drilling of Gunn 2, the rig will move southeast to Schmitt One and Cernan One as part of the farm-in to the Lake Galilee Farm-in Area which was announced in late July.

In 2010, the company had announced a contingent recoverable gas resource of 1,870 PJ over the Gunn Project Area with an additional 597 PJ of prospective resources.