GAS FLOWS FOR COMET RIDGE

Written on the 23 April 2013

GAS FLOWS FOR COMET RIDGE

Comet Ridge Limited (ASX:COI) has announced the Mahalo Field pilot in Queensland's Bowen Basin was brought on-line late last week and closely monitored over the weekend, with one of the wells immediately flowing gas.

Well performance will continue to be monitored over the next few weeks with detailed tracking of water and gas rates from the wells as they stabilise.

Comet Ridge Managing Director Tor McCaul says he is pleased that the Mahalo Field pilot scheme is now operational and is "very encouraged" that a gas flow was recorded from one of the four wells as it came on-line.

"The objective of this pilot scheme, is to lift water from the coal seam, which reduces the pressure in the area around the wells, and allows gas to desorb from the coal and flow to the well,'' he says.

"Ultimately the aim of the pilot is that one or more of the wells will produce gas at commercial rates which will allow gas resources to be converted to gas reserves.''

Regular operational updates for the Mahalo Field Pilot Scheme will be provided as the wells stabilise and pumping rates are fine tuned.

At the Mira Field, construction activities continue with that pilot scheme expected to come on-line in the next several weeks.

Equity participants in ATP 337P Mahalo are Comet Ridge Mahalo Pty Ltd 35%, Stanwell Corporation Limited 5%, Australia Pacific LNG Pty Ltd 30% and Santos QNT Pty Ltd 30%.

Comet Ridge has significant coal seam gas projects in key regions of Queensland and New South Wales. It has other active exploration work in the Galilee Basin in Qld.


Latest News

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

EAST COAST PROPERTY BOOM BUILDS PROFITS FOR BRICKWORKS

AUSTRALIA'S residential property boom has helped drive a sharp rise in first half earnings for Brickworks (ASX: B...

COLLINS SUPERSIZES IN EUROPE WITH PURCHASE OF 16 KFC RESTAURANTS IN THE NETHERLANDS

COLLINS Foods (ASX:CKF) has stepped up its European expansion through the purchase of 16 KFC restaurants in the Ne...

CSIRO HELPS DEVELOP AUSTRALIAN PHARMA COMPANY FROM $10 MILLION TO $305 MILLION

GOVERNMENT backed scientists have helped multiply the market value of a previously small Australian pharmaceutical...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter