With expectation to reach a total depth of about 1,050 meters, Comet Ridge has started off with the spud of the Gunn 2 well in ATP 744P of the basin, located 93 km NNW of Aramac and 576 km WNW of Gladstone.
In 2010, the company drilled Hergenrother 1 and Gunn 1 exploration wells in the Gunn Project Area (GPA) of ATP 744P, spread about 1,400km² and delineated it with 252km 2D seismic survey the following year.
According to the company, GPA has independently certified recoverable gas resource of 1,870 PJ with an additional 597 PJ of prospective resources.
Comet Ridge managing director Tor McCaul, said "With the market in eastern Australia tightening for natural gas, the company is pushing ahead with plans to convert its considerable resource base to reserves in both the Galilee Basin and at Mahalo (ATP 337P) in the Bowen Basin."
