Comet Ridge Limited provide an operational update for the Mahalo and Mira Pilot Schemes within the ATP 337P Mahalo Block, located approximately 240 km west of Gladstone in Central Queensland. Comet Ridge currently holds a 35% equity interest in the block, which will increase to 40% following completion of the conditions under the Deed of Option with Stanwell announced on 19 March 2014.

Mahalo Pilot Scheme

Following the completion of the under-reaming and jet wash stimulation on the Mahalo 3 and Mahalo 5 wells in January and February, the Mahalo Pilot wells have been continuously dewatering for most of the past three months. Mahalo 6 is being used as a pressure observation well, whilst the Mahalo 3, 4 and 5 wells are being pumped to produce water, allowing the reservoir pressure to be reduced which in turn allows gas to flow. The JV has adopted a strategy of intentionally dewatering slowly to protect the coal reservoirs.

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