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COMET RIDGE LIMITED — Capital/Financing Update 2009
Apr 5, 2009
64686_rns_2009-04-05_61a9cde6-2fe0-4096-9fd9-53540518c94e.pdf
Capital/Financing Update
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ASX Announcement
Drilling commences at PEL 428 in northern NSW: 20% Greenpower Energy interest
6 April 2009: Drilling has commenced at the Kurrabooma-1 coal seam gas (CSG) corehole in PEL 428 in northern NSW. Through its wholly owned subsidiary Davidson Prospecting Pty Ltd Greenpower Energy Limited (ASX:GPP) has a 20 per cent interest in this venture and will be entitled to this share of any resource results.
The corehole has been designed to test the coal seam gas potential of Mesozoic coals 70 km west of the Moree Township.Kurrabooma-1 will be the first comprehensive well test of the CSG potential of this region of PEL 428.
Coring of the target coal members will provide important information to assess thickness, gas content and reservoir properties of coals that the well encounters.
Eastern Star Gas (CSG joint venture operator) has contracted McDermott Rig 27 to carry out drilling operations for this 430 m well.
CSG Participating Interests – PEL 428 Davidson Prospecting: 20% Orion Petroleum: 20% Eastern Star Gas: 40% (Operator) Comet Ridge: 20%
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Enquiries:
Gerard King Rudi Michelson Greenpower Energy Monsoon Communications 0418 852 700 03 9620 3333
Ron McCullough Greenpower Energy 0409 680 772
About Greenpower Energy Ltd
Greenpower Energy Limited is an Australian publicly listed explorer and supplier of ‘coal seam natural gas’ (‘CSG’). With a mature CSG industry that provides some 12 per cent of the United States’ natural gas production, modern exploration and completion techniques have led to the exponential growth of CSG in both the US and Australia. Greenpower Energy has approximately two million hectares of commerciallyattractive CSG tenements in three Australian states – Gippsland and Otway Basins in Victoria, the Eromanga and Willochra Basins in South Australia, the Perth Basin in Western Australia, and the Gunnedah Basin in New South Wales.