Reid's Dome Drilling Program and Analysis Outcomes
Reid's Dome Drilling Program and Analysis Outcomes
Brisbane, Jan 21, 2019 AEST (ABN Newswire) - State Gas Limited (ASX:GAS) provides the Company's latest presentation.

Highlights: REID'S DOME UNLOCKED

PRODUCTION LEASE & PIPELINE SURVEY LICENCE

- PL-231 is located in central Queensland, granted under the 1923 Act over 181 km2 on the elongated apex of the Springsure-Sericold anticline for a 30 year term from 15/12/2005. Pipeline Survey Licence PSL-2028 was granted for a 2 year term from 01/08/2018

OWNERSHIP

- State Gas is Operator with 80% of PL-231 - transitioning to 100% under the terms of the Joint Operating Agreement (Offer/Acceptance Notices for remaining 20% issued December 2018)

PROVEN GAS FLOWS

- 17 wells drilled between 1955 - 2018. Gas flows both from sandstone reservoirs in the Cattle Creek Formation and Reid's Dome Beds

NEW PROVINCE - LARGE CSG PROJECT

- Permian Reid's Dome Beds coal measures are extensive throughout the entire PL-231

CSG CONFIRMED IN 2018 DRILLING

- Nyanda-4 (2018) was the first CSG well drilled in Reid's Dome/PL 231

- Nyanda-4 allowed first modern suite of core and logs over Reid's Dome Beds

CONVENTIONAL/ TIGHT GAS

- Cattle Creek Formation: 3-way dip closed structural and stratigraphic traps, over-pressured. Primero West-1 discovery in November 2018

- Reid's Dome Beds: ~1500m thick section with multiple prospective, overpressured sandstone reservoirs in an anticlinal setting. Regional conventional gas analogues nearby at APLNG's Westgrove/Merivale gas fields

SIGNIFICANT CSG PROJECT CONFIRMED IN REID'S DOME BEDS

- CSG confirmed in 40.4m of net coal and 25m of carbonaceous shale + conventional/tight gas in sands and shales of Reid's Dome Beds. Desorption ongoing, average gas content to date of 11.6m3/t in cored coal seams from 392m + gas bubbling/hissing from sandstones in Nyanda-4 core

CONSIDERING PARTNERING AND OTHER TRANSACTIONS

- State Gas operates successfully with a small team and limited resources and has received initial approaches and interest to progress the Reid's Dome Gas Project, including partnering and corporate transactions. The Board seeks to ensure that discussions include all qualified and interested parties

To view the full presentation, please visit:
http://abnnewswire.net/lnk/B9K47827


About State Gas Limited

State Gas Limited ASX:GASState Gas Limited (ASX:GAS) is a Queensland-based developer of the Reid's Dome gas field (PL 231), which includes both CSG and conventional gas, originally discovered in 1954 during oil drilling prior to the existence of a pipeline network and an east coast gas market. The Reid's Dome field is located in the Bowen Basin in Central Queensland on the apex of the Springsure-Sericold Anticline. State Gas is sole Operator and 80%-owner (transitioning to 100%) of PL 231, which is well-located 30 kilometres southwest of Rolleston, approximately 47 kilometres from the Queensland Gas Pipeline.

http://www.stategas.com

 


Contact

Lucy Snelling
Chief Executive Officer
M: +61-439-608-241
E: lucy@stategas.com

Greg Baynton
Executive Director
M: +61-414-970-566
E: greg@stategas.com



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