Drilling Rig mobilisation to Reids Dome Gas Project
Brisbane, Dec 22, 2020 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) advises that on 19th December Target Depth of 1212m was reached at Nyanda 7. The drilling showed net coal of over 30 metres with very encouraging gas readings on drilling. Nyanda 7 is presently being under-reamed after logging. The well will be cased to total depth and the casing cemented to surface. After which the rig will move to Nyanda 8. This should occur by the end of this week. The arrival of the Completion/Workover Rig is anticipated later this week which should allow pumps to be installed at both Nyanda 7 and 8 after the Christmas break with production testing to commence in the early new year.
On completion of drilling of Nyanda 8 and with the site at Aldinga 2 fully prepared, State Gas will make a decision on whether to move the rig to Aldinga 2 based on the weather forecast at that time.
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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