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State Gas Ltd. ( (AU:GAS) ) has provided an update.
State Gas Ltd. has announced a significant milestone with the conversion of 30 petajoules of contingent resources into 2P reserves at its Rolleston West Project. This development underpins the economic viability of a substantial gas project, valued between $360 million and $510 million, and opens up new funding and partnership opportunities. The company is focused on advancing project development milestones, including infrastructure studies and commercial discussions with potential gas offtakers. The positive macroeconomic outlook for energy markets in Australia, coupled with the company’s pioneering technology, positions State Gas well to address the east-coast gas shortfall and support the transition to renewable energy.
More about State Gas Ltd.
State Gas Ltd. operates in the energy sector, focusing on the exploration and development of coal seam gas (CSG) projects. The company is known for its High-Density Natural Gas (HDNG) technology and is actively involved in the Rolleston West Project, aiming to provide alternative fuel solutions and contribute to Australia’s energy transition.
Average Trading Volume: 723,479
Technical Sentiment Signal: Sell
Current Market Cap: A$11.79M
For a thorough assessment of GAS stock, go to TipRanks’ Stock Analysis page.