Comet Ridge Drills Schmitt 1 Well, Australia

Comet Ridge announced the successful drilling and testing of its Schmitt 1 well, the second well in its current three-well Galilee Basin drilling campaign.

Comet Ridge Managing Director, Tor McCaul, said he was very pleased that the well results at Schmitt 1 show a substantial easterly extension of Comet Ridge’s Gunn Project Area into the Farm-in block. Coring of the entire Betts Creek Beds section indicated that all the target coals from the Gunn Project Area are present.

“This gives further confidence in the extensive nature of the target coals over the project area. Schmitt 1 has also showed thickening of coals, with net coal thickness in this location of approximately 22 metres” he said.

Gas desorption results will take a number of weeks to be fully processed. However early raw gas measurements from the coals in Schmitt 1 show a similar trend to results seen in the Hergenrother 1 and Gunn 1 wells in the Gunn Project Area, confirming that the Gunn Project Area is extremely large (in excess of 1400 km2) and extends to the east into ATP 1015P.

Wireline flow testing over key coals showed good productivity leading to the decision to case and suspend the well as a future producer.

“We are very pleased with the results of the Schmitt 1 well, which follows the recent successful testing of Gunn 2, the first production well for Comet Ridge in the Galilee Basin. The results from Schmitt 1 reinforce our decision to farm-in to this key adjacent acreage and to approach these blocks as one very large project area,” said Mr McCaul.

Schmitt 1 reached a total depth of 1,005 metres with extensive coring, logging and testing conducted. Production casing has been run and cemented in place and the well suspended as a future production well. The rig was released and has been moved to the Cernan 1 site, 13 km further to the east. It is expected that Cernan 1 will spud later today.

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LNG World News Staff, November 12, 2012; Image: Comet Ridge