Comet Ridge to Spud Oz Appraisal Well

Australian Comet Ridge has completed preparations for its Albany 1 deep sandstone appraisal well in the country’s east-coast Galilee Basin and is intending on spudding the well in mid-May, the company said April 24.

CEO Tor McCaul noted that it is an appraisal well, rather than an exploration well, because the structure had already produced gas during testing in 1995. An independent resource certification has indicated 417 PJ of recoverable gas at the 3C contingent resource level, 154 PJ at the 2C level and 56 PJ at the 1C level, Comet said.

“Drilling of the Albany 1 well will commence as soon as possible after this rig has been released from current drilling operations for another operator and we expected to arrive on site around the middle of May,” McCaul said. The well is in Queensland on Australia’s east coast, which is currently facing tight supply conditions.