Comet Ridge (ASX:COI) looks to new deal to connect early gas

Company News

by Rachael Jones

Comet Ridge’s (ASX:COI) Mahalo North Project is a step closer to market after the company signed a non-binding letter of intent with adjacent gas producer and infrastructure owner Denison Gas (Queensland) today.

They are looking to explore possible options of gas processing and transport services.

The deal will allow discussions for up to 10 terajoules per day of gas to be processed and transported from Comet Ridge’s recently awarded Mahalo North block via the Denison Gas Pipeline.

This pipeline runs down the western side of Mahalo North and connects to the Queensland Gas Pipeline that links to Gladstone and the domestic market.

Shares in Comet Ridge (ASX:COI) are trading 2.3 per cent higher at 23 cents.