An exciting opportunity to invest in the supply side of the gas market

This is an exciting time to be an investor in the supply side of the Queensland gas market, with the gas industry on the east coast undergoing significant structural change with the growth of demand from the Queensland-based liquefied natural gas (LNG) export industry causing a tight supply market.

State Gas Limited, has an 80% interest in and is the operator of, a petroleum lease (PL 231) in central-eastern Queensland, approximately 545 km northwest of Brisbane and 50 km southwest of Rolleston.

PL 231 hosts a coal seam gas and conventional gas project located in the Denison Trough, first discovered in the 1950s.  The primary area of focus for State Gas is the Reid’s Dome Beds, which hosts net coal thicknesses of >38m from 390m to 1,200m bearing overpressured coal seam gas, along with conventional and tight gas targets. In addition to the Reid’s Dome Beds within PL 231, a number of wells have flowed gas from the Cattle Creek Formation, which was reached at depths of as shallow as 130 meters with methane content of approximately 97% CH4.

In order to accelerate the options for bringing gas from PL 231 to market, State Gas has recently lodged a pipeline survey licence application with the Queensland Department of Natural Resources and Mines (PSL 2028) with the intention to investigate suitable routes for a feeder pipeline to connect PL 231 with the Queensland Gas Pipeline and the broader east coast gas market.

WSP Primero-1 testing at night

Testing of Primero-1 well at night

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