State Gas Limited Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Brisbane, Oct 31, 2018 AEST (ABN Newswire) - Brisbane-based conventional gas developer State Gas Limited (googlechartASX:GAS) is pleased to provide its Quarterly Activities Report for the September Quarter, 2018.

HIGHLIGHTS:

- Silver City Drilling engaged to shortly commence drilling to investigate targets identified within PL 231 via reprocessing of historic seismic below the already discovered gas pool in the Cattle Creek gas sands, and to investigate the potential for both coal seam gas and conventional gas within the Reid's Dome Beds.

- Commencement of experienced petroleum geologist, Mr James Crowley B.Sc(Hons), as Chief Operating Officer.

- Pipeline survey licence PSL 2028 issued to the Company to investigate options to connect with the Queensland Gas Pipeline.

- Completion of reprocessing of historic seismic data in southern area of PL 231.

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

To view the full report, please visit:
http://abnnewswire.net/lnk/4ZEEQM69


About State Gas Limited

State Gas Limited ASX:GASState 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.

 

abnnewswire.com 


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



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