Significant gas reserves and resources upgrade for Mahalo Gas Project
Comet Ridge Limited has announced a material reserves upgrade for their share of the Mahalo Gas Project (Mahalo Project) located in ATP1191 (formerly ATP337P).
Comet Ridge Limited has announced a material reserves upgrade for their share of the Mahalo Gas Project (Mahalo Project) located in ATP1191 (formerly ATP337P).
The underwater operations will be undertaken by Aker BP's contractor, Subsea 7.
In order to drill the well the Joint Venture was required to apply to the Ministry of Mines and Energy in Namibia for permission to enter the next phase of the licence, the Second Renewal Exploration Period.
The Company increased proved reserves by 20% or 1 756 000 bbls after production and increased proved plus probable reserves by 18% or 2 837 000 bbls after production.