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Comet Ridge’s ATP 337P Mahalo asset is located
in the Denison Trough area of Queensland’s Bowen
Basin near Rolleston, and covers an area of 989 sq km.
Comet Ridge has a 40% interest in ATP 337P Mahalo.

On 25 October 2010, Comet Ridge announced a Contingent
Resource Certification by NSAI, the first certification
for Comet Ridge in any of its Australian or New Zealand
acreage. The following table represents Comet Ridge’s
share of Joint Venture Contingent Resources:
Eleven wells have been drilled in the ATP 337P Mahalo
to date, with six of these drilled since Comet Ridge
was assigned its interest in 2004. Results from wells
drilled within the ATP 337P Mahalo permit have shown
favourable gas contents, gas saturations and net coal
parameters. Permeability data within the permit is limited,
but good permeability has been demonstrated in several
wells.
It is Comet Ridge’s objective to establish 2P
and 3P Reserves at ATP 337P Mahalo over the next twelve
months. To deliver on this outcome the ATP 337P Mahalo
Joint Venture is planning a multi-well appraisal programme
for 2011, including a Pilot Project. Success in the
2011 appraisal programme is expected to result in an
additional Pilot Project in 2012, followed by additional
core holes to further delineate the extent of the coals.
Coal Seam Gas activities exploration activities have
increased in the general area in recent years with the
drilling of Katrina 1 in 2007, Luka 1 in 2009 and Bungawarra
1 and 2 in mid 2010. These wells were drilled outside
the ATP 337P Mahalo area, but both Katrina 1 and Luka
1 were drilled near the permit boundary by Comet Ridge’s
ATP 337P Mahalo Joint Venture Partners.
The ATP 337P Mahalo Joint Venture drilled the Scrubber
Gully 1 corehole in July 2009, which successfully demonstrated
coal continuity from adjacent permits into the central-eastern
portion of the joint venture area.
ATP 337P Mahalo is well placed with respect to existing
infrastructure, with the gas pipeline linking the Northern
Denison Trough gas fields to the existing Wallumbilla
to Gladstone (Jemena) pipeline located along the western
boundary of the permit. A proposed gas pipeline linking
the Fairview CSG field to future LNG projects in Gladstone
is also expected to follow a similar route to the Jemena
pipeline in this area.
ATP 337P was awarded on 1 October 1983 for a period
of 4 years to CSR Ltd (60%) and OCA (40%), and included
181 blocks. The ATP 337P permit is now in its seventh
4-year renewal period, covers 58 graticular blocks,
and is due for renewal on 1 October 2011. ATP 337P Mahalo
is a subset of ATP 337P, and covers 14 graticular blocks.
Comet Ridge was assigned its 40% interest in ATP 337P
Mahalo in 2004, with Santos and APLNG retaining a 30%
interest each. Santos and APLNG each hold a 50% interest
in the remainder of ATP 337P.
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