Coal Seam Gas (CSG) explorer Comet Ridge Limited has commenced a 2D seismic survey in Queensland's prospective Galilee Basin as part of its plan to develop a successful pilot project and upgrade its existing Contingent and Prospective Resources to 2P and 3P Reserves. This follows the drilling of five wells over a very large area, last year.
The company last November became one of the first to announce a CSG resource certification in the Galilee Basin, which was 67 PJ (2C) and 1870 PJ (3C) Contingent Resource (net recoverable) with an additional 597 PJ of Prospective Resource over an area of approximately 1500 km2. The company holds a total acreage position in the Galilee Basin of approximately 13,000 km2 (3.2 million acres).
Comet Ridge managing director, Tor McCaul said the seismic survey was the next step in the continuing appraisal programme in the Gunn Project Area, located within ATP 744P, and the Company's plans to develop a Galilee Basin gas project.
"The Galilee Basin has the potential to provide natural gas for power and also for LNG expansion in Gladstone and we are advancing our project after being very encouraged by the coal and core data already obtained in initial drilling," Mr McCaul said.
"The Hergenrother 1 and Gunn 1 wells, 17 km apart in the Gunn Project Area in the southwest portion of our acreage, has indicated a structural nose in this area. We believe that good quality 2D seismic will help further define this structure and enable us to better locate future pilot production and appraisal wells. All of this work is designed to allow the best quality subsurface decisions leading towards our objective of implementing a successful pilot project and progressing to 2P and 3P Reserves."
Comet Ridge has awarded the seismic acquisition contract to Brisbane-based contractor Geokinetics (Australasia) Pty Ltd to conduct a 280 km high resolution 2D seismic survey across the southern part of ATP 744P.
The field acquisition programme began on 13 September and will be undertaken in conjunction with another Galilee Basin exploration company, bringing improved economies of scale in this very large and relatively remote area. It is expected the survey will take approximately 25 to 30 days to fully acquire.
Mr. McCaul said, "While the main seismic acquisition focus is on the Gunn Project Area in the southwest, we will also be shooting a 76 km long, dip seismic line out to the eastern edge of our permit boundary to better define structure in this yet to be explored area. The Permian coals shallow as we move east and are worthy of analysis and consideration for further resource booking."