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State Gas Ltd. ( (AU:GAS) ) has shared an update.
State Gas Limited has announced an update on the timing of its $5.5 million Exploration Grant Funding from the Queensland Government. The grant supports a two-well exploration program, delayed due to a land access dispute, now expected to commence in March 2025. Funding is released in stages as project milestones are achieved, aligning with supplier payments to ensure the program remains fully funded. This development is crucial for State Gas’s strategic expansion and operational efficiency in the southern Bowen Basin, enhancing its market positioning and providing potential benefits for stakeholders.
More about State Gas Ltd.
State Gas Limited is a Queensland-based gas exploration and development company focused on supporting east coast energy markets through efficient identification and development of high-quality gas assets. The company owns the Reid’s Dome and Rolleston-West gas projects, which contain coal seam gas (CSG) and conventional gas, and aims to commercialize these assets using innovative transport solutions. State Gas also holds interests in joint ventures with Santos and participates in carbon capture initiatives.
YTD Price Performance: -5.00%
Average Trading Volume: 332,857
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$14.92M
For a thorough assessment of GAS stock, go to TipRanks’ Stock Analysis page.
