Half Year Accounts
- 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 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.
State Gas Limited