InvestSMART

Eastern Gas Corporation Limited (ASX:EGA)

ALERT: Price-sensitive ASX Announcement for EGA
Current share price for EGA : $0.135 -0.025 (-15.63%)+
Announcement
Release
30 Apr 2026 6:48PM
Price at Release
$0.160
Full Release
download
Summary
Eastern Gas Corporation Limited, an Australian natural gas development and exploration company, released its March 2026 Quarterly Activities Report and Appendix 5B Cash Flow Report. The company is focused on advancing its main project, Project Venus, located in the Surat Basin of Queensland, which is a proven coal seam gas area. During the quarter, Eastern Gas successfully completed its initial public offering (IPO), raising $5.5 million, and was listed on the ASX. The funds are being used to advance appraisal activities at Project Venus, including a planned multi-well drilling program. The company held $4.4 million in cash at the end of the quarter and reported progress in technical evaluations and operational planning for the Windorah Project in the Cooper Basin. Eastern Gas aims to support domestic energy supply through strategic development of its gas resources.
Key Points
  • Eastern Gas Corporation Limited completed its IPO, raising $5.5 million.
  • Project Venus is their flagship coal seam gas asset located in the Surat Basin.
  • The company plans a multi-well drilling program at Project Venus targeting the Upper Juandah Coal Measures.
  • Eastern Gas progressed technical evaluations at the Windorah Project in the Cooper Basin.
  • As of 31 March 2026, the company held $4.4 million in cash.
  • The IPO funds are primarily allocated for drilling and testing at Project Venus.
  • Eastern Gas listed on the ASX on 26 February 2026.
  • The company reported a net cash inflow from financing activities of $4.583 million for the quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.