Second Lateral at Rougemont-3 Commenced
Brisbane, Oct 13, 2022 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) (STGSF:OTCMKTS) advises that drilling of the second lateral of the Rougemont-3 well has commenced.
The first lateral in the well successfully intersected with the Rougemont-2 vertical well as planned, and has now been lined to facilitate production from the full ~1300m of the coal seam.
The second lateral will be drilled through the coal seam approximately 30 metres below the first to also intersect with the Rougemont-2 vertical well. It too will be lined for production.
Together, the two laterals will provide direct access to more than 2 km of coals.
Upon completion of drilling of the second lateral Rougemont-2 will be recompleted with a new pump and the combined Rougemont-2 and -3 well pair will be placed on production.
The Rougemont-3 horizontal well is being drilled to confirm the gas potential of the Rougemont area within State Gas' 100%-owned Rolleston-West Project (ATP 2062) and to provide gas for a future pipeline to connect the project area with the east coast gas pipeline network.
The well is being drilled laterally through the coals of the Bandanna Formation (in commercial production at the Arcadia Valley to the south-east) to meet the vertical Rougemont-2 well.
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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