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COMET RIDGE LIMITED — Capital/Financing Update 2008
Jul 14, 2008
64686_rns_2008-07-14_5a8e5381-3d18-4be2-b6c1-3ec4f282cf67.pdf
Capital/Financing Update
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ASX Announcement
Comet Ridge Limited | ABN 47 106 092 577
14 July 2008 ASX CODE: COI
Comet Ridge
Operations Update - Florence
I GOLDEN #33-20, CURRENT DEPTH 3,248 FEET I PULLING INTO CASING FOR RIG REPAIRS I DRILLING TO RESUME WITHIN 36 HOURS
The board of Directors of Comet Ridge Limited (ASX Code: COI) provides the following update on drilling operations on the Florence project in south eastern Colorado.
Well Information:
Well Name: Golden #33-20 Operator: Comet Ridge USA* Location: Well is within the limits of the Florence oil field approximately 1km south west of the town of Florence, Fremont County, CO. Current Operation: Pulling into casing for rig repairs Proposed Total Depth: 4,926 feet measured depth (md) 4,500 feet true vertical depth (tvd) Current Depth: 3,248 feet md, 2,627 feet tvd Progress since last report: 2,552 feet Hydrocarbon indications: Nil Comet Ridge Limited Interest: 43.75% equity in Comet Ridge Resources, LLC** which has a 97.25% working interest Report Time: 6am Monday 14th July, 2008 Mountain Daylight Standard Time Next routine report: Tuesday 22nd July, 2008
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Comet Ridge USA is operating on behalf of Comet Ridge Resources, LLC/Pine Ridge Oil &Gas, LLC
- ** Comet Ridge Limited’s current equity interest in Comet Ridge Resources, LLC
Newly formed Pine Ridge Oil and Gas, LLC, a wholly owned subsidiary of Comet Ridge Resources, LLC, (COI 43.75%** equity interest) is paying 100% of the well costs and will own a 97.25% interest in the Florence project after drilling this well.
For further information please contact:
Andy Lydyard, Managing Director [email protected] +1 303.226.1303
David Waterhouse, Waterhouse IR [email protected] +613 9639 9099
AUSTRALIA
C/- Endeavor Corporate Suite 8, 7 The Esplanade Mt Pleasant, West Australia 6153 Phone: +61 8 9316 9100 Fax: +61 8 9315 5475
UNITED STATES
600 17th Street Suite 800-S Denver, Colorado 80202 USA Phone: +1 (303) 226.1300 Fax: +1 (303) 226.1301
ASX CODE: COI
ASX Listed: 19 April 04 Shares on Issue: 105 million Unlisted Options: 9.775 million Top 20: 44% Directors: 12%
Comet Ridge Limited | E-mail: [email protected] Website: www.cometridge.com.au USA Phone: 1-303-226-1300