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An update from State Gas Ltd. ( (AU:GAS) ) is now available.
State Gas Ltd. has successfully drilled and completed two new wells, Rougemont-5 and Rougemont-6, at its Rolleston West Project, intersecting approximately 8 meters of net coal in the Bandanna Formation. The company is conducting production testing and has engaged Netherland Sewell & Associates Inc. for reserve certification, which is expected to support the establishment of a 2P reserve estimate by September 2025. This development will enable State Gas to pursue a petroleum lease, negotiate pipeline access, and explore financing solutions, thereby enhancing its operational capabilities and market presence.
More about State Gas Ltd.
State Gas Ltd. is an energy company operating in the oil and gas industry, focusing on the exploration and production of coal seam gas (CSG) in Queensland, Australia. The company is engaged in developing its Rolleston West Project in the Southern Bowen Basin, aiming to establish a certified 2P reserve and enhance its market positioning through strategic infrastructure connections.
Average Trading Volume: 287,590
Technical Sentiment Signal: Sell
Current Market Cap: A$9.04M
See more insights into GAS stock on TipRanks’ Stock Analysis page.