State Gas Ltd. ( (AU:GAS) ) has issued an announcement.
State Gas Limited has successfully drilled the Rougemont-5 well in the Rolleston West Project, confirming the continuity of gas-bearing coal seams in the Southern Bowen Basin. The drilling results, which include elevated gas shows, reinforce the commercial potential of the area and support the company’s plans to establish a new east coast gas supply source. The completion and flow testing of Rougemont-5 and 6 are expected by mid-May 2025, which will provide crucial data for a maiden 2P reserve, enhancing the company’s industry positioning and offering promising implications for stakeholders.
More about State Gas Ltd.
State Gas Limited operates in the energy sector, focusing on the exploration and development of gas resources. The company is primarily engaged in the extraction of coal seam gas, with a significant market focus on the east coast gas supply in Australia.
YTD Price Performance: -35.00%
Average Trading Volume: 228,150
Technical Sentiment Signal: Buy
Current Market Cap: A$10.21M
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