Located about 500m east of the recently drilled Mira 4 pilot well, the Mira 5 well is expected to reach a total depth of about 310m.
Mira 5 is about 250km west of Gladstone in central Queensland. It is the third well to be drilled in an eight-well program for the Mahalo Joint Venture and the third of four pilot wells in the Mira field.
Comet Ridge sold a 5% stake in the ATP 337P Mahalo to Stanwell Corp. in an agreement signed in September 2011, and currently holds 35% interest in the asset.
As a part of the deal, Stanwell will finance Comet Ridge’s expenses for the Mahalo field and Mira field pilot schemes.
Other participating companies in the ATP 337P Mahalo project includes Australia Pacific and Santos, with each holding 30% interest respectively.
