Mount Pleasant-based Comet Ridge plans to raise $21 million to fund exploration efforts at its coal seam gas projects in Queensland and New Zealand for the next 18 months.
Directors in oil and gas explorer Comet Ridge have unanimously recommended a friendly merger with unlisted public company Chartwell Energy, which has coal seam gas assets in New Zealand.
Mt Pleasant-based oil and gas explorer Comet Ridge Ltd has divested its United States projects worth $7.3 million, in a deal with New York-based equity capital firm Pine Brook Road Partners.
Mt Pleasant-based Comet Ridge Ltd has launched an entitlement issue to raise up to $4.3 million in extra funds for its projects in the United States and Australia.
Perth company Comet Ridge has reported positive results from its Tipton West coal seam methane gas project in Queensland, adding to hopes it may join the ranks of gas producers in the region.
