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Comet Ridge Drills Humboldt South 1 Corehole in Mahalo Block

Source: www.gulfoilandgas.com 8/28/2017, Location: Not categorized

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Comet Ridge Limited is pleased to announce the spud of the Humboldt South 1 corehole at 1630 hrs on Saturday 26 August 2017 in the north-eastern part of the Mahalo Block in central Queensland. The hole was drilled to 131 metres and 7” diameter casing is currently being cemented. The well will then be cored through the coal section from the base of the cased hole through to the total depth.

Humboldt South 1 is located approximately 240 km west of Gladstone and 6 km to the east north-east of the Mira pilot scheme. Mira has been the focus of field work for the past several weeks where three pilot wells were successfully under-reamed and one well was prepared for a horizontal well intercept. The field programme has now shifted into a two-well drilling phase, with the start of the drilling programme at Humboldt South 1.

The corehole is expected to reach a total depth of approximately 280 metres and is programmed to core through and recover all coals in the Bandana Formation. The well is being drilled to gather further data on net coal thickness, gas content and reservoir productivity. It should also provide key technical information for an updated 2P and 3P reserves assessment for the Mahalo Block.

Humboldt South 1 is the first new well to be drilled by Comet Ridge in the Company’s capacity as Agent for the Exploration Operator in the Mahalo Block. This agency arrangement and the Joint Venture approval of the amended exploration work programme was announced to the market in April 2017.

Comet Ridge holds 40% equity in the Mahalo Block with Santos and APLNG each holding 30% equity.

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