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COMET RIDGE LIMITED — Capital/Financing Update 2009
Mar 8, 2009
64686_rns_2009-03-08_896d02e4-f58d-4ded-9878-902a20ec4b90.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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9 March 2009
Chartwell Energy: Drilling Commenced 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]
| AUSTRALIAc/- Endeavour CorporateSuite 8, 7 The Esplanade,Mt Pleasant,Western Australia 6153Phone: +61 8 9316 9100Fax: +61 8 9315 5475 | ASX CODE: COIASX Listed: 19 April 04Shares on Issue: 105 millionUnlisted Options: 8.275 millionTop 20: 44%Directors: 12% | |
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| 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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9 March 2009
“Drilling Commenced on PEP 50279 – Painkiller Creek-1C “
Chartwell Energy Limited advises that the Painkiller Creek-1C exploration core well spuded at 1300 hrs (NZ time) on Saturday 7 March 2009, near Reefton in the West Coast region of the south island of New Zealand.
Painkiller Creek-1C is designed to assess the development of the Eocene age Brunner coal measures. The well has a planned total depth of 540m and will take approximately 11 days to drill. The drilling of this well will meet work programme requirements for Year 1 of this exploration permit.
Chartwell is operator of PEP 50279 and holds a 60% equity stake through the wholly owned subsidiary Chartwell NZ Pty Limited. The remaining 40% equity is held by Macdonald Investments Limited.
For additional information, 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