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State Gas Ltd. ( (AU:GAS) ) has issued an announcement.
State Gas has reiterated the status of its contingent gas resources at its Reid’s Dome, Rolleston-West, ATP 2068 and ATP 2069 interests, confirming that the estimates, prepared under SPE–PRMS 2018 guidelines, are based on probabilistic methods and existing technical and exploration data, including seismic reprocessing, drilling and production testing. The company emphasised that further exploration and appraisal are required before any reclassification of these contingent resources to reserves, underscoring both the upside potential of its Queensland gas assets and the uncertainties and risks that remain for investors and other stakeholders.
The most recent analyst rating on (AU:GAS) stock is a Hold 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 Ltd is an Australian oil and gas explorer focused on unconventional gas resources. The company holds 100% interests in the Reid’s Dome and Rolleston-West gas projects and a 35% stake in ATP 2068 and ATP 2069, targeting contingent gas resources in Queensland’s onshore basins for potential future commercial development.
Average Trading Volume: 523,933
Technical Sentiment Signal: Sell
Current Market Cap: A$10.83M
Find detailed analytics on GAS stock on TipRanks’ Stock Analysis page.