Quarterly Activities Report
Brisbane, Jan 31, 2019 AEST (ABN Newswire) - Brisbane-based gas developer State Gas Limited (
ASX:GAS) is pleased to provide its Quarterly Activities Report for the December Quarter, 2018.
HIGHLIGHTS:
- Successful drilling of Primero West-1 well and Nyanda-4 corehole.
- Primero West-1 encountered a net gas-bearing zone of up to 12.5m. Gas was flowed at a rate of 0.436 mmscf/d through a 48/64" choke.
- Nyanda-4 the first CSG well drilled in Reid's Dome / PL 231. 40.4m net coal and 25m carbonaceous shale confirmed, plus conventional / tight gas in sands and shales of Reid's Dome Beds.
- Gas bubbling and hissing from both coals and sandstones in Nyanda-4 core, with numerous gas peaks in logs.
- While gas desorption is continuing, average gas content recorded to date is 11.6m3/t in cored coal seams from Nyanda-4 commencing at 396m.
- State Gas increased its Participating Interest in PL 231 to 80% and is transitioning to 100%, with Offer/Acceptance Notices issued on 4 December under the Joint Operating Agreement.
To view the full report, please visit:
http://abnnewswire.net/lnk/TYY2B283
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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