Rougemont-3 Enters Coal Seam with Strong Gas Shows
Brisbane, Sep 26, 2022 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) (STGSF:OTCMKTS) advises that its Rougemont-3 horizontal well entered the target coal seam overnight and is currently making good progress through the seam towards its intersect point with Rougemont-2.
Strong gas shows, (maximum 13.8%, average 11%-12%) at 99% methane are being observed from the coal seam traversed.
As indicated in recent announcements, State Gas is currently drilling the Rougemont-3 horizontal well to confirm the potential of the Rougemont area within its Rolleston-West Project (ATP 2062).
The well will be drilled laterally through the coals of the Bandanna Formation to meet the vertical Rougemont-2 well. Once completed, the wells will be placed on production as a combined vertical - horizontal pair.
The well reached target vertical depth on 20 September, following which the top hole was cased and cemented to prepare for drilling of the lateral. The target coal was entered as planned and drilling proceeds under close monitoring to optimise well length within the seam.
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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