Comet Ridge Ltd (AU:COI) has released an update.
Comet Ridge Ltd is poised to commence drilling a new lateral pilot well at Mahalo East, backed by a $5 million Queensland Government grant, while awaiting environmental approval for Mahalo North. The company is advancing planning for the Mahalo Joint Venture with Santos and has extended its position in the Mahalo Gas Hub with a new block award. Comet Ridge ended the June 2024 quarter with a strong cash position of $16.8 million.
For further insights into AU:COI stock, check out TipRanks’ Stock Analysis page.