Comet Ridge Ltd (AU:COI) has released an update.
Comet Ridge Limited has secured a $5 million grant from the Queensland Government to pilot a new gas extraction scheme in its Mahalo East block, with operations commencing next quarter. The funding is part of the government’s efforts to boost gas supply in response to shortages and support the state’s renewable energy goals. Comet Ridge’s project aims to utilize advanced steering technology to enhance well efficiency and reduce environmental impact in the Bowen Basin’s Mahalo Gas Hub.
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