Nyanda-4 Spudded
Brisbane, Nov 22, 2018 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) advises that the Nyanda-4 coal seam gas and conventional gas well at the Reid's Dome Gas Project (PL 231) was spudded at approximately 8am AEST today.
The Nyanda-4 well is located approximately 13.5km south of the Primero West-1 well (completed last week by State Gas Limited, TD 250.77m) and 50m southwest of Nyanda-1 which was drilled in 1987 and reached TD in the Cattle Creek Formation.
The Nyanda-4 well has a planned depth of 1,000 metres to investigate both the gas potential of tight gas sands and coal seams within the Reid's Dome Beds. The well is a jointly-funded well in accordance with the terms of the Joint Operating Agreement, with 60% of the costs being met by State Gas Limited. The Reid's Dome Joint Venture is utilizing the Sliver City Drilling Rig-25 for the current drilling program.
The Nyanda-4 well has been designed to be plugged and abandoned on completion of drilling and evaluation. In the event of success, additional seismic data may be acquired and interpreted to improve planning of future appraisal/production wells.
State Gas Limited is sole Operator and 60%-owner of the Reid's Dome Gas Project.
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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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