• Well pad construction planned to start in the next few days for the Memooloo 2, Struan 2 and Struan 3 leases
• Rig expected to mobilise to Mahalo during the week commencing 22 October 2018

Comet Ridge Limited (ASX:COI) is pleased to announce that it expects to spud the next round of evaluation drilling on the Mahalo Gas Project during the week commencing 29 October 2018. The earth moving contractor will soon be mobilised, with construction of the well pads planned to start in the next few days.

Memooloo 2 and Struan 2 are vertical wells, while Struan 3 will be the first of the dual lateral wells and will intercept Struan 2.

Comet Ridge has contracted Silver City Rig 20, the same rig that successfully drilled the Mira-6 well in late 2017.

Comet Ridge (40%) is operating under an Agency Agreement for Santos as Exploration Operator (30%). The other JV participant in the Mahalo block is APLNG (30%).

Comet Ridge Limited has a 40% interest in the Mahalo Coal Seam Gas (CSG) project located in ATP 1191 in Queensland’s Bowen Basin.