Comet Ridge Limited (ASX:COI) is pleased to announce that the Comet Ridge - Vintage Deeps Joint Venture in the eastern Galilee Basin has recorded a stabilised gas flowrate of 230,000 scf/d (standard cubic feet per day) across a 13 metre interval in the Lake Galilee Sandstone Reservoir from 2582 to 2595 metres at its Albany 1 well.
Comet Ridge Limited
Comet Ridge Limited (ASX:COI) has a 40% interest in the Mahalo Coal Seam Gas (CSG) project located in ATP 1191 in Queensland’s Bowen Basin. The Company is currently acting as agent for the Exploration Operator to manage work in the block. The Company also holds a 70% effective interest (consequent on the successful Farm-in of Vintage Energy Limited) in the Albany conventional gas project and 100% in the Gunn CSG project in the Galilee Basin (ATP 743, ATP 744 and ATP 1015). The Company also has CSG equity of 29.55%, 59.09% and 68.42% respectively in PEL 6, PEL 427 and PEL 428 in the Gunnedah Basin in New South Wales. Gas resources have been certified by independent professional certifiers at several projects, and gas reserves were certified in 2014 and expanded in 2015 and 2018 for the Mahalo project. The Company is listed on the Australian Securities Exchange (ASX Code: COI) and is based in Brisbane. The Board and Management are experienced in establishing and developing energy projects. Comet Ridge's early entry into well-located exploration areas, has allowed shareholders to gain substantial leverage into the considerable upside value potential associated with exploration success.
Australian Market Report of November 25, 2010: Comet Ridge (ASX:COI) Announces First Coal Seam Gas Resource Certification in Galilee Basin
Australian Market Report of November 25, 2010 includes: Comet Ridge Limited (ASX:COI) today announced its first Coal Seam Gas Resource Certification in Galilee Basin; Energy Ventures Limited (ASX:EVE) is to commence diamond drilling at the Aurora uranium deposit in USA; Dragon Mining Limited (ASX:DRA) reported near surface high grade drill results in Finland; Mantle Mining Corporation Limited (ASX:MNM) announced Barkly Phosphate Project drill results.