Brisbane-based gas developer State Gas Limited (ASX:GAS) refers to its announcement on 16 September 2019 regarding the outcome of proceedings in the Supreme Court of Queensland between the Company and its former joint venture partner, Dome Petroleum Resources Plc (Dome).

As advised in that announcement, the Court ordered Dome to execute documentation as may be necessary to effect the transfer of Dome's remaining interest in PL 231 to State Gas Limited for the consideration fixed by the Joint Operating Agreement, namely $233,333. Further orders were made in favour of State Gas Limited for costs.

Notwithstanding their failure to appear at the hearing, Dome, which is representing itself, has filed an appeal against the Judgement.

State Gas's legal advice is that the appeal is entirely without merit. State Gas will defend the appeal.

The application for appeal by Dome will not impact the 2019 drilling and production testing activities at the Reid's Dome Gas Project that are scheduled to commence later this week.


About State Gas Limited

State 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 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

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



Link: Update on Supreme Court Proceedings



Related Companies

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