Galilee Basin

Comet Ridge has two 100% owned interests in ATP 743 and ATP 744 spanning ~13,000 square kilometres in the Galilee Basin, Queensland. The Galilee Basin is approximately 500km west of Gladstone and contains large quantities of highly volatile, low rank thermal coal. Recently, the basin has gained considerable interest as it is seen to have the potential as a major gas-producing region.

Both of these permits are considered prospective for CSG with extensive coals known to be present throughout the permits. There is an extensive coal exploration data set on the eastern side of the Basin from the 1970’s and 1980’s, and there has been renewed coal exploration activity in recent years. There have been some conventional and CSG exploration wells drilled in the Galilee Basin by a variety of companies.

The most prospective coals in this part of the Galilee Basin are within the Late Permian Betts Creek Beds which are equivalent to the Bandanna Formation. Coals within the Bandanna Formation are the producing horizons in the Fairview and Spring Gully CSG fields in the Bowen Basin. The Early Permian Aramac Coal Measures are also possible targets on the Western side of the Comet Ridge permits.

The exploration program for the blocks consists of eight coreholes in 2009/10 to determine gas content and permeability in the region. If successful this would be followed by a pilot program in 2010. Success would be followed by further appraisal wells and pilot testing.

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