Tuesday, July 31

Australia: Comet Ridge, QER Ink Farm-In Agreement



Coal seam gas explorer Comet Ridge Limited said it has signed a three-Stage farm-in agreement with Queensland Energy Resources Pty Limited (QER) to earn up to 75% of the Lake Galilee Farm-in Area.

The farm-in area is located in the south east of permit ATP 1015P, between the east and west parts of Comet Ridge’s ATP 744P, in which Comet Ridge has a 100% interest.

The Lake Galilee Farm-in Area consists of two separate areas totalling approximately 825 km2. These areas represent 21% of QER’s total permit area in ATP 1015P. QER will retain a 100% interest in the remaining area of ATP 1015P, while Comet Ridge will become Operator of the Lake Galilee Farm-in Area.

Comet Ridge Managing Director, Tor McCaul commented “This transaction creates a continuous acreage position across our key area in the Galilee Basin, expanding the Gunn Project Area to the east and allowing it to be appraised as a single project.


LNG World News

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