Comet Ridge has received independent certification that identifies the possibility of nearly 500 petajoules (PJ) of gas across its Mahalo gas permits.
Comet Ridge’s 100 per cent owned Mahalo East project has received independent certification of 3C contingent resources equalling 122 PJ.
Notably, if the 3C contingent resources – a high estimate of the reserves being investigated – then the company would be sitting on a net interest in nearly 500 PJ of 3P gas reserves across its Mahalo gas permits.
Tor McCaul, Comet Ridge’s Managing Director, said that the certification increased the likelihood that the Mahalo Gas Hub will become an important supply option for near-term domestic LNG customers.
“We plan to continue to progress the development of these Queensland gas projects and engage with customers for future supply contracts, particularly working with those who understand the supply threats caused by short-sighted market intervention measures,” said McCaul.
The certification was carried out by global energy consulting and advisory firm Sproule Incorporated.
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