Oz Comet Ridge Completes Mahalo North Work Programme

Sydney-listed Comet Ridge February 13 said Mahalo North planning is complete and work is set to start in Q2 2020 following the award of tenure.

In late October 2019, Comet Ridge was appointed preferred tenderer for the natural gas acreage ATP 2048 (Mahalo North), in the Southern Bowen Basin, as part of the Queensland government’s ongoing gas tender process. Comet Ridge holds a 100% interest in and is the operator of the block.

"Since being appointed preferred tenderer at Mahalo North, Comet Ridge has focused on completing the government procedural requirements for formally obtaining the tenure. Comet Ridge is working through the environmental requirements and is currently engaged in the Native Title process. It is expected that ATP 2048 will be formally awarded during Q2 2020,” it said.

Comet Ridge said it is evaluating a variety of development options as well as completing preparations for the initial work programme. “This additional subsurface analysis, combined with optimisation of well design and a review of additional third party seismic data (that runs through both Mahalo and Mahalo North), has allowed Comet Ridge to increase its confidence in the extension of the high production fairway from Mahalo into the Mahalo North acreage,” it said.

The company said it will execute a work programme that focuses on two objectives: pilot wells in the southern portion to evaluate the high production fairway (main coal seams) adjacent to Mahalo; and core holes further north to assess the northern extent of this fairway.