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Comet Ridge Ltd ( (AU:COI) ) has provided an announcement.
Comet Ridge Limited has announced the start-up of its Mahalo East Pilot Production Scheme, marking a significant operational milestone. The project, supported by a $5 million grant from the Queensland Government, involves the Mahalo East 1 vertical and Mahalo East 2 lateral wells, which are part of the company’s strategic development in Central Queensland. The successful drilling and commencement of gas desorption testing indicate promising production prospects, reinforcing Comet Ridge’s position in the east coast gas market.
More about Comet Ridge Ltd
Comet Ridge Limited operates in the energy sector, focusing on the exploration and development of gas resources. The company is engaged in projects that contribute to the gas supply on the east coast of Australia, leveraging government support to enhance its exploratory operations.
YTD Price Performance: 3.57%
Average Trading Volume: 832,603
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$173.5M
For detailed information about COI stock, go to TipRanks’ Stock Analysis page.