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COMET RIDGE LIMITED — Capital/Financing Update 2009
Mar 19, 2009
64686_rns_2009-03-19_af9f8e4d-2d15-411d-86f6-2f0efcdb6b97.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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20 March 2009
Chartwell Energy: Drilling Completed on PEP 50279 – Painkiller Creek-1C
On 9 February 2009 the board of Comet Ridge announced the terms of a proposed merger with Chartwell Energy Limited. The attached advice relates to Coal Seam Gas exploration activity being undertaken by Chartwell Energy in New Zealand.
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Jeff Schneider Executive Chairman Comet Ridge Limited
For further information concerning the merger or an update on activities please contact Jeff Schneider (Executive Chairman)
Comet Ridge Limited Telephone: +61 419957084 Email: [email protected]
AUSTRALIA ASX CODE: COI c/- Endeavour Corporate ASX Listed: 19 April 04 Suite 8, 7 The Esplanade, Shares on Issue: 105 million Mt Pleasant, Unlisted Options: 8.275 million Western Australia 6153 Phone: +61 8 9316 9100 Top 20: 44% Fax: +61 8 9315 5475 Directors: 12%
Comet Ridge Limited ABN 47 106 092 577 E-mail: [email protected] Website: www.cometridge.com.au
Shareholder Drilling Update
Painkiller Creek‐1C
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20 March 2009
Chartwell Energy Limited provides the following update for its shareholders.
On 19 March 2009 the Painkiller Creek‐1C exploration well in the Buller Permit (West Coast region of the south island) in New Zealand (PEP 50279) was plugged and abandoned. The well was drilled to a total depth of 507 metres. The Brunner Coal Measures in this area were not developed. Wireline log and core data will be analysed in detail over the coming weeks. Data acquired during drilling will provide vital stratigraphic information in order to further develop the regional geological model.
Painkiller Creek‐1C is the first exploration well drilled by Chartwell in PEP 50279. This extremely large permit (8722 sq km) contains a number of prospective areas for CSG and includes a range of play types.
The rig will now be released.
For additional information in relation to the matter, please contact:
Tor McCaul Chief Executive Officer +61 7 3221 3661 +61 400 574 932 [email protected]
Chartwell Energy Limited Level 13 145 Eagle Street Brisbane Qld 4000 www.chartwellenergy.com.au