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State Gas Ltd. ( (AU:GAS) ) has issued an announcement.
State Gas Limited has successfully completed the drilling of Rougemont-5 and Rougemont-6 wells at its Rolleston West Project in Queensland. These wells have entered the production testing phase, confirming the presence of a significant coal seam gas resource in the area. The drilling results will support the company’s efforts to obtain third-party accreditation for initial reserves, positioning State Gas as a key player in developing a new gas supply source in the region. The project is expected to contribute to the growing demand for reliable, lower-emission energy, with the potential for large-scale natural gas development in the Denison Trough region.
More about State Gas Ltd.
State Gas Limited is a company operating in the energy sector, focusing on the exploration and development of coal seam gas resources. Its primary market focus is on developing significant gas supply sources in Queensland, Australia, particularly in the Southern Bowen Basin.
Average Trading Volume: 317,073
Technical Sentiment Signal: Sell
Current Market Cap: A$7.85M
See more data about GAS stock on TipRanks’ Stock Analysis page.