Comet Ridge Starts Drilling Humboldt Creek 2 Well

Coal seam gas explorer Comet Ridge has announced the commencement of drilling operations at the Humboldt Creek 2 well, at its ATP 337P Mahalo asset in Queensland’s Bowen Basin, on Friday 15 March 2013.

Humboldt Creek 2 is the third step-out core hole to be drilled following the recent drilling of pilot production wells in the Mira field. The well is located approx. 24 km south-southeast of the Mira field pilot wells and is approx. 245 km west of Gladstone in central Queensland. The well is expected to reach a total depth of approx. 500 metres.

Humboldt Creek 2 will be cored through the reservoir section and is being drilled to further define the key coal parameters in the southern part of the block.

Equity participants in ATP 337P Mahalo are Comet Ridge Mahalo 35%, Stanwell Corp 5% (with an option to increase), Australia Pacific LNG 30% and Santos QNT 30%.