Comet Ridge (ASX: COI) is drilling three coal seam gas wells to appraise the extent and characteristics of the coals in a new extension of the Gunn Project Area in Queensland.
The first well, a pre-pilot production well, will be drilled in the company’s wholly owned ATP 744P while two core holes will be acquired in the Lake Galilee Area, which it is acquiring up to 75% from Queensland Energy Resources.
Two of these wells will provide valuable information across the Gunn Project Area while the third and most easterly well will test a different play concept.
All permitting and approvals are progressing to schedule and the first well is expected spud in September this year.
Lake Galilee farm in
Comet Ridge is acquiring up to 75% in the 852 square kilometre Lake Galilee Farm-in Area, which is located in the southeast of QER’s ATP 1015P and between the eastern and western parts of ATP 744P .
Under the three stage farm-in, Comet Ridge will drill two wells by 30 November 2012 to fulfil the Stage 1 commitment, giving it a 20% stake in the area.
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The first well, a pre-pilot production well, will be drilled in the company’s wholly owned ATP 744P while two core holes will be acquired in the Lake Galilee Area, which it is acquiring up to 75% from Queensland Energy Resources.
Two of these wells will provide valuable information across the Gunn Project Area while the third and most easterly well will test a different play concept.
All permitting and approvals are progressing to schedule and the first well is expected spud in September this year.
Lake Galilee farm in
Comet Ridge is acquiring up to 75% in the 852 square kilometre Lake Galilee Farm-in Area, which is located in the southeast of QER’s ATP 1015P and between the eastern and western parts of ATP 744P .
Under the three stage farm-in, Comet Ridge will drill two wells by 30 November 2012 to fulfil the Stage 1 commitment, giving it a 20% stake in the area.
Read More
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