Natural gas developer Comet Ridge has inked a memorandum of understanding (MoU) with ammonia producer Orica on potentially signing a long-term gas offtake agreement at Comet Ridge’s Mahalo North gas project.
Under the MoU, the parties will commit in the coming months to progressing an initial gas sales agreement and development funding structures through term sheet and binding documentation phases.
Comet Ridge has received a notice from Santos to acquire the additional 12.86% option interest in the Mahalo Gas Project, per previously announced arrangements between the parties.
Comet Ridge has announced that drilling operations at the Mahalo North-1 vertical well in ATP 2048 have successfully concluded with very positive coal thickness and permeability measured in the coal reservoir and good quality coal samples recovered for lab analysis.