Comet Ridge (ASX: COI) has completed stimulation work at its Mahalo-3 coal seam gas well in Queensland and now plans to restart the well and dewatering to establish its effectiveness.
The company has also decided to delay stimulation of the Mahalo-5 well to observe the performance of work done on Mahalo-3.
Planning is underway for a rig to return to the area and stimulate Mahalo 5 in the next one to two months.
At the Mira pilot project, about 13 kilometres southeast of the Mahalo pilot, dewatering of the wells is ongoing.
In mid-January, the pilot began producing a small amount of measurable gas which has been increasing on a steady basis. All four wells in the Mira pilot project will continue pumping with further gas and water flows monitored.
Comet Ridge has a 35% interest in ATP 337P Mahalo Block. Santos (ASX: STO) has a 30% interest, Australia Pacific LNG (30%) and Stanwell Corporation (5%).
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