Half Yearly Report and Accounts
Brisbane, Mar 11, 2022 AEST (ABN Newswire) - The December 2021 Half Year Period saw State Gas Limited (
ASX:GAS) focus on its program to confirm the commerciality of the Reid's Dome Project (PL231) in Central Queensland, as well as advance the exploration of its new Rolleston-West Project in adjacent ATP 2062. State Gas is appraising the Reid's Dome Project for rapid development to provide new gas supplies into the east coast gas market, with the gas at Rolleston-West envisaged to supplement and, over time, supersede the Reid's Dome supplies.
State Gas' previous programs have established very high gas contents in the Reid's Dome coal beds at PL231, and commercial levels of production at the Nyanda-4 well. The current works are to confirm the size and scope for development with production tests at additional wells.
At Rolleston-West the Company is targeting the Bandanna Formation coals, which are extensive across large areas of the permit. The potential of these areas is underpinned by Santos' commercial production of gas from the Bandannas at the Arcadia Valley field to the south-east, and Comet Ridge's progress towards commercial production from the Bandannas at Mahalo to the north-east.
The Period started with receipt of the final results from its drilling of the two Rougemont wells on ATP 2062. ATP 2062 was issued to the Company in October 2020, and the Company moved quickly, notwithstanding the challenges of Covid-19 and a heavy wet season, to obtain the relevant approvals and drill the two Rougemont wells in Q2 2021.
*To view the Half Year Report, please visit:
https://abnnewswire.net/lnk/7BAVTT24
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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