- Comet Ridge (COI) enters a mid-week trading halt pending the release of a capital raising announcement
- The company will remain in the halt until Friday, September 9, or when the announcement is released to the market, whichever occurs first
- Comet is yet to disclose how much it intends to raise or what it will use the funds for once received
- Shares in Comet last traded at 24.5 cents on September 6
Comet Ridge (COI) has entered a mid-week trading halt pending the release of a capital raising announcement.
The company will remain in the halt until Friday, September 9, or when the announcement is released to the market, whichever occurs first.
Comet is yet to disclose how much it intends to raise or what it will use the funds for once received.
Prior to entering the trading halt, the company’s most recent news was confirming the gas flow from its Mahalo North 1 pilot well.
The well exceeded 1.7 million cubic feet per day (MMcfd), the highest recorded gas flow in the Mahalo Gas Hub area so far.
Moreover, the performance of the Mahalo North pilot well has confirmed that the adjoining Mahalo Gas project high productivity fairway extends into Mahalo North.
Shares in Comet last traded at 24.5 cents on September 6.