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State Gas Ltd. ( (AU:GAS) ) has issued an announcement.
State Gas Limited has reported promising drilling results from its new Rougemont 5 and 6 wells at the Rolleston West Project, indicating strong coal and gas consistency. These results are expected to support the establishment of a maiden 2P reserve, which will facilitate negotiations for pipeline access and the application for a petroleum lease, potentially enhancing the company’s operational capabilities and market positioning. Additionally, State Gas is expanding its high-density natural gas (HDNG) supply arrangements, aiming to increase its revenue stream by supplying HDNG for a dual fuel engine trial, which could lead to improved transportation and logistics efficiencies.
More about State Gas Ltd.
State Gas Limited is a company operating in the energy sector, focusing on the exploration and production of natural gas. It is actively involved in projects within Queensland’s Southern Bowen Basin, particularly the Rolleston West Project, where it aims to establish significant gas reserves.
YTD Price Performance: -22.50%
Average Trading Volume: 213,383
Technical Sentiment Signal: Buy
Current Market Cap: A$12.17M
For detailed information about GAS stock, go to TipRanks’ Stock Analysis page.