Quarterly Activities Report
Brisbane, July 12, 2022 AEST (ABN Newswire) - Recent months have highlighted the essential role of gas for the Australian and international economies, with intense focus on current and future demand and supply. Internationally gas is emerging as a commodity of strategic importance.
In this context, the June 2022 Quarter has seen State Gas Limited (
ASX:GAS) focus its efforts to bring new gas supplies to market, with an emphasis on soonest possible delivery. The Company is exploring options to minimise infrastructure and speed deployment to facilitate early delivery and sales. This work has focussed on the Reid's Dome conventional gas in the northern area of PL 231, as well gas from the Rougemont area in Rolleston-West ATP 2062, both of which require only dehydration and compression to meet export quality requirements.
QUARTER HIGHLIGHTS:
- Strategic review identifies Reid's Dome conventional gas for initial delivery to east coast gas market; options for rapid gas export under development.
- State Gas awarded two new Central Queensland exploration blocks in joint venture with Santos QNT Pty Ltd.
- JV terms agreed for carbon management project with Rockminsolutions Pty Ltd.
During the Quarter the Company undertook initial on-the-ground route survey work for an export pipeline from Reid's Dome, confirming the potential for a northern route that traverses through the Rougemont area to the high pressure pipeline network which provides access to both domestic and international markets. None of the Company's gas is subject to domestic reservation, enabling full optionality in gas sales.
During the Quarter, State Gas was appointed Preferred Tenderer with Santos QNT Pty Ltd for two new Central Queensland gas exploration areas in the most recent Queensland Government land release.
These two new blocks, ATP 2068 and ATP 2069 (previously PLR2021-1-2 and PLR2021-1-3), lie directly adjacent to the east and south of the State Gas' existing tenements PL 231 and ATP 2062, and to the west and in between existing Santos interests, including Arcadia Valley (see Figure 1 below*). As such they are of strategic importance to the Company in that they result in a commonality in interest across an entire gas-rich region, providing opportunities for optimisation of exploration and development, and economies of scale. Preliminary environmental and other approvals are currently being obtained, with the permits to be granted once complete.
The Quarter also saw State Gas progressing its carbon management initiative, agreeing to terms of a joint venture with minerals explorer Rockminsolutions Pty Ltd. The Joint Venture will investigate the potential of the Buckland Basaltic Sequence, located within EPM 27596 (within and adjacent to the western area of State Gas' Rolleston-West Project ATP 2062), to enable significant decarbonisation through carbon mineralisation, either in- and ex-situ.
The Joint Venture will initially investigate the potential of the Buckland basaltic ignimbrite for a range of ex-situ mineral carbonation purposes such as soil mineral carbonation, while also investigating its potential as a supplementary cementitious material to make low-carbon cements.
Important information as to potential of the deposit for in-situ mineral carbonation - applying the process currently being successfully implemented by Carbfix in Iceland - will be revealed as a consequence of this initial work.
Planning is currently underway for the drilling of two chipholes into the area to obtain samples for testing.
*To view the Quarterly Report, please visit:
https://abnnewswire.net/lnk/77I8OZ78
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.
| ||
|
