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State Gas Ltd. ( (AU:GAS) ) has issued an announcement.
State Gas Limited has provided an update on its financial position and strategic outlook, revealing that it has 0.44 quarters of funding available and is capable of meeting its debts. The company is advancing its Capital Management Strategy, including the Frontier Gas Exploration Grant-funded drilling program at the Rolleston West CSG Project, which is on track despite site access interruptions. Additionally, State Gas is progressing its HDNG technology development, supported by R&D grants, and is optimistic about securing further funding. The company is also pursuing insurance claims related to a previous access dispute and anticipates significant revenue from expanding its HDNG trial with mining trucks, potentially enhancing its financial capacity.
More about State Gas Ltd.
State Gas Limited operates in the energy sector, focusing on the exploration and production of natural gas. The company is involved in developing High Density Natural Gas (HDNG) technology, which aims to produce natural gas directly from coal seam gas for industrial applications. This technology provides a cost-effective and environmentally friendly alternative to diesel and LNG, targeting users lacking traditional pipeline infrastructure.
Average Trading Volume: 196,758
Technical Sentiment Signal: Sell
Current Market Cap: A$10.6M
Find detailed analytics on GAS stock on TipRanks’ Stock Analysis page.