Comet Ridge Ltd (AU:COI) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
For further insights into AU:COI stock, check out TipRanks’ Stock Analysis page.