State Gas Begins Fully Funded Exploration Program at Rolleston West

State Gas Limited (ASX: GAS) has commenced its fully funded two-well exploration program at the Rolleston West Project within ATP 2062. The drilling will focus on areas near Rougemont 2/3, which have demonstrated proven gas content and good permeability. Gas from these wells will be captured using the company’s high-density natural gas (HDNG) plant, reducing fugitive emissions while generating revenue. Positive drilling and production testing results could lead to accreditation for a maiden 2P reserve of 30-50PJs, strengthening the project's commercial viability.

The exploration program is fully funded through the Queensland Government’s AU$5.5 million Frontier Gas Exploration Program grant. The company has strategically aligned supplier payments with grant milestones to ensure financial stability. Establishing a 2P reserve will support State Gas' goal of securing a petroleum lease and engaging with potential end-users and infrastructure providers to connect the Rolleston West Project to key gas pipeline networks.

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