Comet blazes a trail in Galilee Basin

BRISBANE-based CSG explorer Comet Ridge has spudded the final well of its three-well Galilee Basin drilling program in Central Queensland.
The Cernan 1 well is being drilled in ATP 1015P, for which Queensland Energy Resources (QER) has 100 per cent equity.
Under a farm-in agreement between it and Comet, the latter has a 20 per cent stake in the farm-in area thanks to Cernan 1: the second of two wells meeting the requirements of the first phase of the agreement.
Comet, which operates the 825 square kilometre farm-in area, can increase its holding to 75 per cent by committing to a further two phases: the second comprising three wells, and the third involving the drilling of five wells including a pilot.
Expected to reach a total measured depth of about 930m, Cernan 1 is part of Comet’s testing of a new geological play 13km east of its Gunn project area.
The well’s spudding came after the second well in the drilling campaign, Schmitt 1, was successfully drilled to reveal a net coal thickness of about 22m and an easterly extension of the Gunn project area.
According to a company statement, “the Gunn project area is extremely large (in excess of 1400sqkm) and extends to the east into ATP 1015P”.
Comet managing director Tor McCaul said the company was pleased with the results to date.
“The results from Schmitt 1 reinforce our decision to farm in to this key adjacent acreage and to approach these blocks as one very large project area,” he said.
Focussed on CSG exploration and appraisal, Comet has projects in the Galilee Basin and Mahalo, Queensland; the Gunnedah Basin in NSW; and North Waikato, Greymouth and the Buller Block in New Zealand.
According to a statement, the company “has gained early entry into well-located exploration areas”.

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