Comet Ridge intersects coal seams via Mira 4 well in Queensland's Bowen basin

1/9/2013

Comet Ridge intersects coal seams via Mira 4 well in Queensland's Bowen basin

ADELAIDE -- U.S. indedepdent Comet Ridge Resources has announced that the coals, which intersected Mira 4 well, at its ATP 337P Mahalo asset in Queensland’s Bowen basin, are consistent with the earlier well drilled at the Mira field. The well intersected 8.7 m of coal over four separate, closely spaced intervals in the Castor Pollux reservoir.

The drilling rig is currently moving 500 m to the east to the Mira 5 well location and is expected to spud that well shortly. Mira 5 is the third pilot well to be drilled in the Mira field.

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

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