State Gas Limited (ASX:GAS), in Joint Venture with Santos Ltd (ASX:STO), has been appointed Preferred Tenderer of two new areas under the Queensland Government's latest Petroleum Land Release Program.
State Gas Limited
State Gas Limited (ASX:GAS) is a Queensland-based developer of the Reid's Dome gas field, originally discovered during drilling in 1955, located in the Bowen Basin in Central Queensland. State Gas is 100%-owner of the Reid's Dome Gas Project (PL-231) a CSG and conventional gas play, which is well-located 30 kilometres southwest of Rolleston, approximately 50 kilometres from the Queensland Gas Pipeline and interconnected east coast gas network.
Permian coal measures within the Reid's Dome Beds are extensive across the entire permit but the area had not been explored for coal seam gas prior to State Gas' ownership. In late 2018 State Gas drilled the first coal seam gas well in the region (Nyanda-4) into the Reid's Dome Beds and established the potential for a significant coal seam gas project in PL 231. The extension of the coal measures into the northern and central areas of the permit was confirmed in late 2019 by the Company's drilling of Aldinga East-1A (12 km north) and Serocold-1 (6 km to the north of Nyanda-4).
State Gas is also the 100% holder Authority to Prospect 2062 ("Rolleston-West"), a 1,414 km2 permit (eight times larger than PL 231) that is contiguous with the Reid's Dome Gas Project. Rolleston-West contains highly prospective targets for both coal seam gas (CSG) and known conventional gas within the permit area. It is not restricted by domestic gas reservation requirements.
The contiguous areas (Reid's Dome and Rolleston-West), under sole ownership by State Gas, enable integration of activities and a unified super-gasfield development, providing economies of scale, efficient operations, and optionality in marketing.
State Gas is implementing its strategic plan to bring gas to market from Reid's Dome and Rolleston-West to meet near term forecast shortfalls in the east coast domestic gas market. The strategy involves progressing a phased appraisal program in parallel with permitting for an export pipeline and development facilities to facilitate the fastest possible delivery of gas to market. State Gas' current focus has been to confirm the producibility of the gas through production testing of the wells.
State Gas Limited (ASX:GAS) announces that it has agreed terms with minerals company Rockminsolutions Pty Ltd for a Joint Venture for a Carbon Management project in Central Queensland.
State Gas Limited (ASX:GAS) notes the recent record increase in the price of liquefied natural gas (LNG) amid the Russia-Ukraine conflict and the sanctions on imports of Russian energy imposed by several countries, including Canada, the United Kingdom, and the United States.
During the March 22 Quarter State Gas Limited (ASX:GAS) continued to progress its 100% owned Reid's Dome (PL 231) and Rolleston-West (ATP 2062) Projects towards delivery of new gas supplies into a heated east coast market.
State Gas Limited (ASX:GAS) is pleased to give an update on its current production testing activities at its Reid's Dome and Rolleston-West Projects in Central Queensland.
The December 2021 Half Year Period saw State Gas Limited (ASX:GAS) focus on its program to confirm the commerciality of the Reid's Dome Project (PL231) in Central Queensland.
Good progress is being made in its production testing of the Rougemont-2 well at the Company's Rolleston-West Project (ATP 2062) in Central Queensland, where the Company is working to confirm the potential of the area for gas development.
Following the $8 million capital raising completed in September 2021 for State Gas Limited (ASX:GAS), the last quarter of the 2021 calendar year has been all about following up the tantalizingly good outcomes from the Rougemont 2 core hole.
State Gas Limited (ASX:GAS) is pleased to give an update on its current production testing activities underway within its Central Queensland gas projects.
State Gas Limited (ASX:GAS) advises that the three production test wells continue to provide encouraging results after early testing.