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$5m funding for State Gas

Funding State Gas

State Gas has been awarded $5.5 million of exploration grant funding through the Queensland Government’s Frontier Gas Exploration Program.

The funding will be used to further delineate gas resources and reserves within the company’s Rolleston West coal seam gas project, through drilling of two new vertical wells.

Successful results from this will accelerate the company’s application for a petroleum lease over a substantial portion of the project area.

State Gas executive chairman Richard Cottee said the exploration grant funding is a strong endorsement for the Rolleston West Project.

“It demonstrates that the Queensland Government shares State Gas’ view that the area is highly prospective and capable of supporting new gas project development,” Cottee said.

“State Gas’ HDNG facility will enable it to capture and commercialise production testing gas from these wells, thereby supporting the Frontier Grant Program dual objectives of increasing geological knowledge of the area and accelerating new gas supply to Queensland and the East Coast domestic gas market.”

Cottee noted that the Queensland Government’s support for increased natural gas supply should be acknowledged.

“The state’s objectives are consistent with those outlined in the Federal Government’s recently released Future Gas Strategy report which identifies the critical role natural gas will continue to play in supporting an orderly transition to lower emission fuel sources over time,” Cottee said.

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