Queensland Gas Company Limited

The Chairman of Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF), Bob Bryan, today welcomed one of BG Group's most senior executives as an Alternate Director of the Board of QGC.

The Chairman, Managing Director and a non-executive Director of Sunshine Gas (Sunshine) have today formally accepted into the agreed takeover Offer by Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF), five days earlier than a 29 September deadline.

Share markets around the world rebounded strongly on Friday as regulators took steps to shore up the financial system. The Australia sharemarket regained much of its losses last Friday, closing 4.3% higher, but still down 2% for the week.

Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF) today welcomed the conclusion by an Independent Expert that an agreed takeover Offer by QGC for all the issued shares of Sunshine Gas is 'fair and reasonable'. The Offer from QGC is also being unanimously recommended by voting Directors of the Sunshine Board in the absence of a superior proposal.

The Australian share market closed lower yesterday despite a positive lead from US markets and the United States central bank's rescue of global insurer American International Group (AIG). Overnight Wall Street plunged more than 4% after the US Federal Reserve has announced it would provide AIG with an $US85 billion rescue loan to save it from bankruptcy.

Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF) has achieved another significant increase in its Proved (1P) reserves and its Proved and Probable (2P) reserves, after analysis of production data and final confirmation by independent certifiers, Netherland, Sewell & Associates, Inc (NSAI). The new figures include BG Group's 20 per cent interest.

The Australian stock market has received negative leads from Wall Street on Friday. Oil rose again in anticipation of Hurrican Gustav making landfall in the continental US.

Leading Australian coal seam gas producer Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF) today announced record financial results, including net profit after tax (NPAT) of A$244.6 million and underlying NPAT of A$30.6 million.

Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF) will release its 2008 Full Year Results on Thursday 28 August 2008.

The Boards of Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF) and Sunshine Gas Limited (Sunshine) are today pleased to jointly announce an agreement for an offer by QGC for all the issued shares in Sunshine (the Offer).