- Initial Public Offering (IPO) Completed, raising $5.25 million (prior to Issue costs), with tradingcommencing on the Australian Securities Exchange (ASX) on 10 October 2017.
- Successful flow-testing and gas sampling and analysis of existing gas wells at Reid's Dome -Cattle Creek conventional gas project (PL 231) undertaken during December 2017.
- Cattle Creek gas samples confirmed by analysis at PetroLab as pipeline-quality gas, with anaverage Methane (C1) content of approximately 96%, average Carbon Dioxide (CO2) content ofapproximately 1.5% and very low levels of interts.
- Reprocessing of historical seismic survey data for the Reid's Dome - Cattle Creek projectcommenced during November.
- Engagement of a drilling and completions co-ordinator during December to source long-leaditems and co-ordinate the 2018 drilling and completion program.
- Lucy Snelling LLB, BA, G.Dip Finance and Investment was appointed as inaugural CEO on 22February. Lucy was formerly Manager Gas Development for AGL Energy Limited and comesfrom a specialist background as a commercial and legal advisor in the oil and gas sector and asthe former Partner and head of oil and gas in a Queensland-headquartered law firm.
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About State Gas Limited
State Gas Limited (ASX:GAS) is a developer of a conventional gas field located in the Bowen Basin in Central Queensland. It is Operator and 60%-owner of the Cattle Creek and Reid's Dome Conventional Gas Project located 30 kilometres south west of Rolleston, approximately 50 kilometres from the Queensland Gas Pipeline.
State Gas Limited
State Gas Limited
Link: Half Year Accounts
State Gas Limited (ASX:GAS) Operational Update on PL 231 Reid's Dome - Cattle Creek Conventional Gas Project