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New QLD CSG permit for Comet Ridge

The tenement is adjacent to ATP 743, which was awarded to Comet Ridge in September. The company now wholly owns both blocks covering a combined total area of approximately 13,000 sq km.

Comet Ridge has finalised a drilling contract with Atlas Drilling and will focus on an eight-well drilling program targeting the Permian coals in the area to obtain coal thickness and gas content values.

Technical work undertaken by MBA Petroleum Consultants indicates significant reserves of up to 36 Tcf of gas-in-place within the ATP 743 and ATP 744.

The drilling program is progressing ahead of schedule and is now expected to commence in November 2009.

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