Brisbane-based conventional gas developer State Gas Limited (ASX:GAS) is pleased to provide its inaugural Quarterly Activities Report, for the March Quarter, 2018.

HIGHLIGHTS:

- Received results of flow testing and sampling of historic wells undertaken during previous Quarter, indicating significant flows of pipeline quality gas.

- Completion of Phase 1 reprocessing of seismic for the northern permit area.

- Identification of new potential gas pool target in the north-west of PL 231 from seismic reprocessing.

- Commenced planning for drilling new potential gas pool target, with drilling of one firm and one contingent well expected during the September Quarter.

- Commenced Phase 2 (Southern Area) seismic data reprocessing.

- Commenced desktop review of Reid's Dome (deeper) gas and oil targets within PL 231 using previously unavailable data.

- Continued investigation of monetisation options for Cattle Creek Formation gas.

- Appointment of Chief Executive Officer.

Background

State Gas Limited (State Gas or the Company) has a 60% interest in, and is operator of, a petroleum lease (PL 231) in central eastern Queensland, approximately 545 km northwest of Brisbane and 50 km southwest of Rolleston, in the Bowen Basin Central Queensland.

PL 231 hosts a conventional gas project located in the Denison Trough, first discovered in the 1950s. PL 231 is not a coal seam gas target. The initial area of focus for State Gas is the shallow, conventional gas target in the Cattle Creek Formation, a marine sandstone source rock, with a major secondary target in the underlying Reid's Dome beds. Both targets have produced gas during the drilling of exploration and appraisal wells on PL 231. A number of historical wells have flowed gas from the Cattle Creek Formation, which was reached at depths of as shallow as 130 meters.

To view the full report, please visit:
http://abnnewswire.net/lnk/3X34O025


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.

 

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



Link: Quarterly Activities Report



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