In a statement Comet Ridge MD Andy Lydyard said, “The NSW government has instituted a five year royalty-free period and continues to invest in the acquisition of geological and geophysical data. These incentives and the increasing demand for new sources of conventional and coal seam gas to feed New South Wales’ rapidly growing energy markets, makes the Gunnedah Basin a very attractive region to explore.”
“Comet Ridge is now strategically positioned to expand and develop this new, highly prospective hydrocarbon province. PEL 427 is strategic because it lies between Mosaic’s exciting new gas discoveries in the Bowen Basin to the north and Eastern Star’s discoveries in PEL 238 to the south,” he added.
