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State Gas Ltd. ( (AU:GAS) ) has issued an announcement.
State Gas has secured independent certification of a maiden 2P gas reserve of 30.2 petajoules at its Rolleston West Project in central Queensland, providing a resource base sufficient to underpin a long-life, 10 terajoules per day coal seam gas development linked into the Gladstone/Wallumbilla pipeline network and serving both domestic and export markets. The new reserve, derived from only four wells and supported by an additional 3P reserve, significantly enhances the project’s economics and valuation, enabling State Gas to accelerate pre-development work using $3.2 million raised via premium-priced convertible notes, and to intensify efforts on engineering studies, regulatory approvals, gas sales negotiations, infrastructure financing and securing strategic co-investment partners.
The most recent analyst rating on (AU:GAS) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on State Gas Ltd. stock, see the AU:GAS Stock Forecast page.
More about State Gas Ltd.
State Gas Limited is an Australian gas exploration and development company focused on coal seam gas projects in central Queensland. Its flagship Rolleston West Project targets pipeline-quality gas for both the East Coast domestic market and LNG export customers, positioning the company within the broader energy transition where gas-fired power remains important for grid reliability.
Average Trading Volume: 776,404
Technical Sentiment Signal: Sell
Current Market Cap: A$11.39M
See more insights into GAS stock on TipRanks’ Stock Analysis page.