PEL 6 is located in northern New South Wales, north
east of Santos’ Narrabri Gas Project and Wilga
Park Power Station in PEL 238 permit.
On 21 June 2012, Comet Ridge announced that it had signed
an Asset Sale Agreement for the acquisition of Petrel
Energy Limited’s interests in PEL 6, PEL 427 and
PEL 428 in the Gunnedah Basin in northern New South
Wales. At the conclusion of the acquisition of Petrel
Energy’s Gunnedah Basin assets, Comet Ridge will
have a 22.5% CSG interest in PEL 6, which covers an
area of 5,162 sq km. Comet Ridge will also have a 20%
conventional petroleum interest in PEL 6.
An initial resource booking was announced on 7 March
2011 for PEL 6, which was assessed by independent reserves
certifiers MHA Petroleum Consultants LLC. Resources
have been booked in the the Early Cretaceous Bungil
Formation. This certification confirms the CSG potential
of this permit, with Comet Ridge’s share of these
resources presented below:
* Data is correct as at the completion of the asset
acquisition from Petrel Energy
Between March 2009 and June 2010 the Joint Venture drilled
three CSG exploration wells; Gwydir-1, Milguy-1 and
Camurra-2. Situated in the southern half of PEL 6, each
of these wells was designed to test the Middle Triassic
coals of the Moolayember Formation. This programme confirmed
the consistent widespread presence and gas content of
the Moolayember Formation coals.
In addition to the CSG exploration wells, the Joint
Venture drilled two conventional oil & gas wells
in the northern half of PEL 6. Willaroo-1 and Toenda-1
were drilled to test targets in the Permian Back Creek
Group. Both wells were plugged and abandoned.
Comet Ridge will now extend the review of the magnetic
and gravity data, completed over its permits PEL 427
and PEL 428 in early 2012, to include PEL 6.
A 75km seismic acquisition programme is scheduled in
PEL 6 in 2013, followed by a core hole.