Operational Update Reids Dome Project
Brisbane, Jan 8, 2020 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) refers to its announcements on 16 and 30 December 2019 in relation to recent activities at the Reid's Dome Gas Project (PL 231).
The Company advises that it has commenced workover activities to complete the Serocold-1 well (drilling during December 2019) for production testing. The production test will be commenced following installation of surface facilities, expected to be at the end of next week.
In addition, the Company has taken the Christmas break opportunity to quality control and cross-verify the Nyanda-4 flow rates employing a Critical Flow Prover as well as further investigation of back pressure. We expect to have the results of this process early next week.
The Company will release flow testing results from both the Nyanda-4 and Serocold-1 wells as appropriate.
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https://abnnewswire.net/lnk/HTI4QO2G
About State Gas Limited
State Gas Limited (ASX:GAS) (OTCMKTS:STGSF) is a Queensland-based gas exploration and development company with highly prospective gas exploration assets located in the southern Bowen Basin. State Gas Limited's mission is to support east coast energy markets through the efficient identification and development of new high quality gas assets.
It will do this by applying an agile, sustainable but low-cost development approach and opportunistically expanding its portfolio in areas that are well located to gas pipeline infrastructure.
State Gas is 100%-owner of the contiguous Reid's Dome (PL-231) and Rolleston-West (ATP 2062) gas projects, both of which contain CSG and conventional gas. The Projects, together some 1,595km2 , are located south of Rolleston, approximately 50 and 30 kilometres respectively from the Queensland Gas Pipeline and interconnected east coast gas network. State Gas intends to accelerate commercialisation of these assets through the application of an innovative virtual pipeline ("VP") solution which will see the Company transport compressed gas by truck to existing pipeline infrastructure or to an end user.
State Gas also holds a 35% interest in ATP 2068 and ATP 2069 in joint venture with Santos QNT Pty Ltd (65%). These two new areas lie adjacent to or in the near vicinity of State Gas and Santos' existing interests in the region, providing for the potential of an alignment in ownership interests across the region over time and enabling synergies in operations and development.
State Gas is also participating in a carbon capture and sequestration initiative with minerals explorer Rockminsolutions Pty Ltd in respect of EPM 27596 which is located on the western border of ATP 2062. This project is investigating the potential of the unique basalts located in the Buckland Basaltic Sequence (located in EPM 27596) to provide a variety of in-situ and ex-situ carbon capture applications.
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