Spud of Rougemont-2 Well
Brisbane, May 31, 2021 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) is pleased to announce the spud of Rougemont-2, the second well in its new Rolleston-West Gas Project (ATP-2062) in Central Queensland.
Following the successful drilling of Rougemont-11, State Gas has commenced drilling Rougemont-2, located some 3.7 km to the northeast of Rougemont-1. The well spudded at 8.40am on 29 May 2014. As at 6am this morning drilling had reached 75m.
Rougemont-2 is targeting the highly prospective gas-bearing Bandanna Formation coal measures on the eastern flank of the south-plunging Consuelo Anticline. The coals in this location are expected to commence up to 100m shallower than at Rougemont-2 and will provide valuable information about the coal seam gas potential at a range of depths within the Project area. The Bandanna Formation has been highly productive at this range of depths in the analogue fields of Arcadia Valley (Santos/GLNG) and Mahalo (Comet Ridge/Santos/APLNG) at similar distances to the south-east and north-east of ATP 2062 respectively.
State Gas will determine the thickness and gas content of the coal in the well through sampling the coals (coring) and wireline logs. Permeability testing will also be undertaken. These initial tests should confirm important information about the potential of this area of ATP 2062 and inform preparations for production testing in the future. Once these initial tests are completed the well will be suspended until production testing is commenced.
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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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