Comet Ridge (ASX:COI) reports that the Mahalo Gas Project has received petroleum lease approvals

Company News

by Rachael Jones

Comet Ridge (ASX:COI) is pleased to announce that the Mahalo Gas Project has been granted Queensland State Government Petroleum Leases.

These Petroleum Lease awards are the final regulatory approval required for the project to move forward to production and follows the Commonwealth Government Environment Protection and Biodiversity Conservation Act (EPBC) approval in May and the Queensland Department of Environment and Science environmental approval in June.

This project is held 40 per cent by Comet Ridge (ASX:COI), 30 per cent by Santos (ASX:STO) and 30 per cent by APLNG (where Origin Energy (ASX:ORG) is the development Operator).

Shares in Comet Ridge (ASX:COI) are trading 23.6 per cent higher at 11 cents.

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.