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New block for Comet Ridge

gas exploration Qld

Comet Ridge has been awarded an additional gas block within the Mahalo Gas hub in Queensland.

The Queensland Government awarded Comet Ridge the new block on a 100 per cent equity basis.

The new block, which will be called Mahalo Far East Extension, covers an area of 66km2 and sits north of Mahalo East. The southern portion of the block sits over the Mahalo Gas Hub high-quality fairway.

“We are very pleased to receive continued strong support from the Department of Resources in Queensland,” Comet Ridge managing director Tor McCaul said.

“Natural gas is critically important for both keeping the lights on and manufacturing thousands of key products.

“The Mahalo Hub gas will contribute to both of those outcomes in eastern Australia and the award of this block increases our position in this strategically important asset.”

Now, the company will progress a standard condition environmental approval and native title arrangements in order for the formal authority to prospect to be awarded.

The announcement follows successful milestones for the company across Mahalo, including its $15 million placement to progress the joint venture and Mahalo North gas projects to a final investment decision.

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