Rougemont 6 drill data reinforces confidence in Rolleston West coal seam continuity
Drill Data Reinforces Confidence in Rolleston West Project
Brisbane, April 7, 2025 AEST (ABN Newswire) - State Gas Limited (
ASX:GAS) (STGSF:OTCMKTS) is pleased to announce successful drilling, wireline logging and casing of the Rougemont 6 vertical well at its Rolleston West Project (ATP 2062) in the Southern Bowen Basin in Queensland.
HIGHLIGHTS:
- Rougemont 6 well reached total target depth of 572 metres in maiden 2P Reserve drilling at Rolleston West
- Coal intersections commenced at ~404 metres, with 8.1 metres of net coal logged
- Elevated gas shows during drilling from the Bandanna coal seams and deeper Black Alley Shale
- Results confirm continuity of gas-bearing coal seams north-east of Rougemont 2/3, reinforcing a large and permeable gas production zone
- Rig relocation to Rougemont 5 vertical well underway
- Drilling results will support the establishment of a maiden 2P reserve targeting 30-50 PJ at Rolleston West
- Drilling is funded under a $5.5M Queensland Government Frontier Gas Exploration Program.
Rougemont 6 is 1.5 kilometres north-east of the existing Rougemont 2/3 dual lateral well system. The well intersected the Bandanna coal measures at 403.8 metres, with 8.1 metres of net coal close to the expected range. Elevated gas shows during drilling further validate the commercial gas potential of the formation. State Gas will incorporate wireline log data from Rougemont 6 into its geological model for ATP 2062. Data demonstrates strong correlation between with previously drilled wells.
State Gas Managing Director, Doug McAlpine, commented: "These results suggest strong consistency across the extensive Bandanna coal measures at Rolleston West. Assuming further positive results from completion of this drilling program, State Gas remains optimistic about the prospects of developing a substantial gas project at Rolleston-West.
Establishing a maiden 2P reserve in conjunction with production testing of Rougemont 5 and 6 remains the Company's immediate objective."
Drilling results from Rougemont 5 and 6, including wireline logs and production testing, are expected to support accreditation of a maiden 2P reserve of 30-50 PJ for the Rolleston West Project. Successful outcomes from the program will enable the Company to submit a petroleum lease application over a substantialportion of ATP 2062 and advance discussions with potential end users and pipeline infrastructure providers. Drilling at the two new exploration/appraisal wells is fully funded under a $5.5 million Queensland Government Frontier Gas Exploration Program.
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About State Gas Limited
State Gas Limited (ASX:GAS) (OTCMKTS:STGSF) is a Queensland-based gas exploration and development company with highly prospective gas exploration assets located in the southern Bowen Basin. State Gas Limited's mission is to support east coast energy markets through the efficient identification and development of new high quality gas assets.
It will do this by applying an agile, sustainable but low-cost development approach and opportunistically expanding its portfolio in areas that are well located to gas pipeline infrastructure.
State Gas is 100%-owner of the contiguous Reid's Dome (PL-231) and Rolleston-West (ATP 2062) gas projects, both of which contain CSG and conventional gas. The Projects, together some 1,595km2 , are located south of Rolleston, approximately 50 and 30 kilometres respectively from the Queensland Gas Pipeline and interconnected east coast gas network. State Gas intends to accelerate commercialisation of these assets through the application of an innovative virtual pipeline ("VP") solution which will see the Company transport compressed gas by truck to existing pipeline infrastructure or to an end user.
State Gas also holds a 35% interest in ATP 2068 and ATP 2069 in joint venture with Santos QNT Pty Ltd (65%). These two new areas lie adjacent to or in the near vicinity of State Gas and Santos' existing interests in the region, providing for the potential of an alignment in ownership interests across the region over time and enabling synergies in operations and development.
State Gas is also participating in a carbon capture and sequestration initiative with minerals explorer Rockminsolutions Pty Ltd in respect of EPM 27596 which is located on the western border of ATP 2062. This project is investigating the potential of the unique basalts located in the Buckland Basaltic Sequence (located in EPM 27596) to provide a variety of in-situ and ex-situ carbon capture applications.
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