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STATE GAS LIMITED - Corporate Spotlight

State Gas Limited is a Queensland based company focused on developing new gas supplies... State Gas Limited is a Queensland based company focused on developing new gas supplies from its Reid’s Dome and Rolleston-West Gas Projects. The Reid’s Dome and Rolleston-West Projects are contiguous, enabling co-development of this “super” gas region in the Bowen Basin in Central Queensland. The Projects are strategically located in easy reach of infrastructure, with the Queensland Gas Pipeline less than 30 km from the eastern arm of Rolleston-West.More

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Corporate Spotlight

State Gas Limited is a Queensland based company focused on developing new gas supplies from its Reid’s Dome and Rolleston-West Gas Projects.
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Richard Cottee Interview with The Market Herald

STATE GAS TABLES NEW PROJECT

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State Gas (ASX:GAS) tables new project after identifying coal seam gas play

Energy

ASX:GAS
State Gas (ASX:GAS) finds gas-bearing coal at second Rougemont well
Drilling at Rougemont-1 well. Source: State Gas.

  • Results from State Gas (GAS) Rougemont-2 well testing have given way to a potential coal seam gas play within its Rolleston-West Project in Queensland
  • Testing intersected gas-bearing Bandanna coal measures indicating a strong correlation with measures identified by coal exploration and conventional wells
  • Drill-stem tests for Rougemont-2 are said to show "excellent permeability", with State Gas' Executive Chairman estimating a "high likelihood of a project"
  • Planning for production testing of the Rougemont wells is underway ahead of determining production metrics for both gas and water

Results from State Gas (GAS) Rougemont-2 well testing have given way to a potential coal seam gas play within its Rolleston-West Project in Queensland.


Rougemont-2 intersected gas-bearing Bandanna coal measures which indicate a strong correlation with measures identified by coal exploration holes and historic conventional wells in the area.


Drill-stem tests for Rougemont-2 are said to show "excellent permeability", with eight metres of net coal confirmed.


Additionally, State Gas said initial Rougemont gas analysis indicates near-pipeline quality gas and that field values of gas content of the coals indicate a promising commercial viability.


Planning for production testing of the Rougemont wells is already said to be underway with facilities to be installed "at the earliest opportunity" to determine production metrics for both gas and water.


State Gas Executive Chairman Richard Cottee said the results indicate a high likelihood of a viable project at Rolleston-West.

"The results of the drill stem tests at Rougemont-2 have established the presence of excellent permeability," he said.


"The correlations with other well and coal exploration data across the area, gives me great confidence of an exciting new era for the company."


Read the Full Article on The Market Herald here

GAS FINDS GAS-BEARING COAL AT WELL

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State Gas (ASX:GAS) finds gas-bearing coal at second Rougemont well

Energy

ASX:GAS
State Gas (ASX:GAS) finds gas-bearing coal at second Rougemont well
Drilling at Rougemont-1 well. Source: State Gas.

  • State Gas (GAS) intersects gas-bearing Bandanna coal at its Rougemont-2 well
  • The energy stock says the finding confirms the wider Bandanna Formation within the Rolleston-West project hosts significant volumes of gas
  • It's now testing core samples taken from the second well, which was spudded on May 29 and hit its total target depth of 540 metres on June 5
  • The coal measures from the Rougemont-2 well were intersected 295 metres down, with eight metres net coal intersected and gas bubbling sighted

State Gas (GAS) has intersected gas-bearing Bandanna coal at its Rougemont-2 well, similar to that found at its Rougemont-1 well in Central Queensland.


The company said the finding confirms the wider Bandanna Formation within its Rolleston-West project could play host to significant volumes of gas.


Executive Chairman Richard Cottee said it was a pleasing development.


"These results suggest good consistency across the extensive Bandanna coal measures in this region of the Rolleston-West Project," Mr Cottee said.


"Assuming further positive results from the wells, a gas project of significant scale may be possible in this area, to complement our neighbouring project at Reid’s Dome."


The energy stock has begun testing core samples taken from the second well, which was spudded on May 29 and hit its total target depth of 540 metres on June 5.


It explained the coal measures from Rougemont-2 were intersected 295 metres down, 200 metres shallower than the first well.


Around eight metres of net coal was intersected in both wells, while gas bubbling was also sighted from the coals in Rougemont-1 and Rougemont-2.


Read the Full Article on The Market Herald here

GAS FINDS EARLY SUCCESS AT GAS WELL

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State Gas (ASX:GAS) finds early success at Rougemont Gas Well

Energy

ASX:GAS
State Gas (ASX:GAS) - Executive Chairman, Richard Cottee - The Market Herald
Executive Chairman, Richard Cottee
Source: Courier Mail

  • State Gas (GAS) has found early success in its first well at its new Rolleston-West Gas Project in Central Queensland
  • The Rougemont-1 well confirmed the existence of gas-bearing coal seams in the Bandanna coal measures within the project area
  • Core samples have been taken from the well with 100 per cent recovery

State Gas (GAS) has found early success in its first well at its new Rolleston-West Gas Project in Central Queensland.


The Rougemont-1 well confirmed the existence of gas-bearing coal seams in the Bandanna coal measures within the project area.


Gas observed bubbling from the coal and field values indicates gas content is likely to be within expectations.


The well spudded on May 14 and reached a target depth of 800 metres a few days later.


Core samples have been taken from the well with 100 per cent recovery.


Rougemont-1 confirmed the intersection of eight metres of net coal, hosted in a number of seams, with the thickest seam measuring around 2.2 metres.


"It is always gratifying to receive positive results that justify the decision to compete for new gas acreage," Executive Chairman Richard Cottee said.


"These results more than justify that decision, and indicate gas contents similar to those hosted in other Bandanna coals, which led to the company applying for this acreage," he added.


The Rougemont-1 well is the first of two planned wells being drilled to evaluate the highly prospective Bandanna coals in the eastern arm of the Rolleston-West permit.


Read the Full Article on The Market Herald here

GAS BEGINS DRILLING 1ST ROUGEMONT WELL

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State Gas (ASX:GAS) begins drilling 1st Rougemont well

Energy

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Liquefied Natural Gas (ASX:LNG) congratulates Delta Offshore for IRC



  • State Gas (GAS) has commenced drilling the first well in its new Rolleston-West Gas Project in Central Queensland
  • Rougemont-1 was spudded last Friday, and as of this Monday it has reached a depth of 75 metres
  • The company is planning to hit a total depth of 800 metres, targeting gas-bearing coals 500 metres onwards
  • Two wells will be drilled at Rolleston-West, as GAS tests the highly prospective Bandanna coals in the region
  • Meanwhile, State Gas also reported encouraging results from its appraisal testing of the nearby Reid's Dome Gas Project

State Gas (GAS) has commenced drilling the first well in its new Rolleston-West Gas Project in Central Queensland.


Rougemont-1 was spudded last Friday, May 14, and as of this Monday, May 17, it has reached a depth of 75 metres.


The energy company is planning to hit a total depth of 800 metres at Rougemont-1, targeting gas-bearing coals 500 metres onwards.


State Gas is planning to drill two wells at Rolleston-West, in a bid to test the highly prospective Bandanna coals in the eastern arm of its permit.


It explained the Bandanna Formation is well established as a host of commercially viable coal seam gas, with ASX-giant Santos (STO) also developing projects nearby.


Explaining the significance of today's spud update, GAS Executive Chairman Richard Cottee said it was a major milestone.


"This is the first well in the new acreage awarded by the Queensland Government to State Gas last year, increasing the Company’s potential many-fold," he explained.


Meanwhile, State Gas also reported encouraging results from its appraisal testing of the nearby Reid's Dome Gas Project.


The company noted since its last update, production at Serocold-1 well has reached 35,700 cubic feet (cft) per day - almost double the previous test.


Nyanda-4 well reached over 700,000 cft per day, before production resumed at the economic rate of around 100,000 cft per day, suggesting free gas in the intersected fractures has drained.


The production at Nyanda-4 well has begun increasing again since then and is currently producing 114,000 cft per day.


Nyanda-7 well has built up to producing 6700 cft per day, while Nyanda-8 well is currently approaching 44,000 cft per day.


Read the Full Article on The Market Herald here

THE GAS FIRED INVESTMENT OPPORTUNITY

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The “gas-fired” investment opportunity in the Australian energy sector

The “gas-fired” investment opportunity in the Australian energy sector
Source: Santos


  • The global energy market crashed in 2020 as weak demand, ramped-up production, and the COVID-19 pandemic sent oil prices tumbling
  • The sector gradually recovered in the 12 months after the crash, but U.S. petrol has hit a massive supply crunch just this month after a major cyberattack against fuel pipeline operator Colonial Pipeline
  • Yet, the Australian government has pegged the energy market as one of the catalysts for the nation's COVID-19 economic recovery
  • Prime Minister Scott Morrison and Energy Minister Angus Taylor have outlined a string of government measures to prop up the energy sector in coming months and years
  • On top of this, analysts like Deloitte, UBS and Goldman Sachs are all predicting rising oil prices over the next few years
  • Given the ASX energy sector is still far below its pre-pandemic glory, the energy market could present a unique opportunity to Australian investors
  • On the upper end of the market, the likes of Santos (STO) and Beach Energy (BPT) could offer relatively safe but smaller gains to investors
  • On the junior, more speculative side of the market, the likes of State Gas (GAS), Australis Oil and Gas (ATS) and ADX Energy (ADX) are on watch by investors
  • Whether ASX investors opt for safe or speculative plays, the energy market has been largely overlooked in Australia's COVID-19 market recovery so far

    Read the Full Article on The Market Herald here

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Richard Cottee Interview with The Market Herald



State Gas (ASX:GAS) tables new project after identifying coal seam gas


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