Comet Ridge Limited advised that the Mahalo North 1 pilot well continues to record increases in gas production and is currently flowing at more than 1.25 MMcfd. This represents a 65% improvement in flow rate over the past three weeks. The well's bottom hole pressure also continues to gradually decline each day whilst still being materially above the targeted level (which will replicate how the well would operate during long term production).

This is a positive indicator for production wells in this area. Produced water is being maintained at approximately 1180 barrels of water per day or less. The data collected is providing firm technical information, enabling fine tuning and upgrading of development plans.