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The latest announcement is out from State Gas Ltd. ( (AU:GAS) ).
State Gas Limited has commenced drilling at its Rolleston West Project in Queensland, with two exploration wells, Rougemont 5 and Rougemont 6, underway. This initiative is part of the company’s strategy to establish a maiden 2P gas reserve of 30–50 petajoules, supported by a $5.5 million grant from the Queensland Government. The successful drilling program is expected to confirm the quality and continuity of the coal seams, potentially leading to a petroleum lease application and advancing discussions with end users and infrastructure providers.
More about State Gas Ltd.
State Gas Limited is an energy company focused on the exploration and production of natural gas. The company primarily targets the East Coast energy markets in Australia, aiming to supply high-quality gas.
YTD Price Performance: -25.00%
Average Trading Volume: 205,415
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$12.96M
See more data about GAS stock on TipRanks’ Stock Analysis page.