State Gas Limited (ASX: GAS) – Trading Halt, page-275

I listened this afternoon to GAS Chairman Trevor Cottee make his passionate 15 minute presentation at the Noosa Mining Conference.

The best part was that he has found a geological fold (called it the Kiwi Kiss) on the new exploration lease (and much closer to the main 2 QLD pipelines than the current gas drill holes that found gas only 50km away from those pipelines), that looks very like his major gas find over a decade ago with his previous company QLD Gas.

He is going to target that geological fold with two drill holes asap and is very excited about it.

He does say it may take until Q3/Q4 2021 to ascertain (if he does finds gas in these drill holes) that 1. see if its connected to the existing gas discoveries GAS has made so it becomes a major gas field and 2. production testing to work out how much gas is there.

He also points out that if he finds gas and gets it to the QLD pipeline it will be just around the time when the East Coast of Australia virtually runs out of surplus gas supplies and goes into deficit in 2022. He will be leveraging the increasing spot gas price to the benefit of GAS (and unltimately TEG) shareholders as the east coast gas deficit gets worse from 2023 onwards.

Now this is all my listening to his mining conference presentation today and my interpretation of what he said. So don't rely on me and go and listen to the recording of his verbal presentation yourself and make up your own mind as TEG shareholders what you think.