Mira 4 intersected 8.7m of coal over four separate closely spaced intervals in the Castor Pollux reservoir.

The well, which reached a total depth of 310m, is the second in an eight-well program for the Mahalo Joint Venture and also the second of four pilot wells in the Mira field.

Mira 4 is about 13km southeast of the Mahalo pilot area and about 250km southwest of Gladstone.

Production casing has been run and cemented and the well has been suspended as a future pilot production well.

It will be completed for production later this month with tubing and a pump installed downhole.

The drilling rig is moving 500m east to the Mira 5 well location and is expected to spud the well shortly.

Mira 5 is the third pilot well to be drilled in the Mira field.

Comet ridge has a 35% interest in ATP 337P Mahalo. It divested a 5% stake in the asset to Stanwell Corporation in 2011.

Under the terms of that agreement, Stanwell will fund Comet Ridge’s expenditure for the Mahalo field and Mira field pilot schemes.

The agreement also gives Stanwell an option to buy half or all of Comet Ridge’s equity in the Mahalo block, based on 2P reserves booked.

Other equity partners in ATP 337P Mahalo are Australia Pacific LNG (30%) and Santos QNT (30%).