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Eastern Gas Corporation Limited (ASX:EGA)

ALERT: Price-sensitive ASX Announcement for EGA
Current share price for EGA : $0.130 -0.035 (-21.21%)+
Announcement
Release
31 Jul 2026 1:57PM
Price at Release
$0.165
Full Release
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Summary
Eastern Gas Corporation Limited, an Australian natural gas exploration and development company, reported its quarterly activities and cash flow for the quarter ending 30 June 2026. The company focused on advancing Project Venus in the Surat Basin, Queensland, by executing a drilling contract for the Venus-2H horizontal appraisal well. This project targets coal seam gas and includes technical evaluations and preparations for potential partnering opportunities. Cash flows from operating activities indicated a net outflow, with significant investments made in exploration and evaluation. The company's cash position at the end of the period was $3,356,000, with estimated funding sufficient for approximately 3.53 quarters. Payments to related parties for the quarter totaled $194,000, comprising directors' fees, consulting fees, and wages. Eastern Gas continues to manage regulatory and environmental requirements while preparing for future commercial assessments of its projects.
Key Points
  • Focus on Project Venus in the Surat Basin.
  • Executed drilling contract for Venus-2H well.
  • Investments in exploration and evaluation.
  • Net cash outflow from operating activities.
  • End of quarter cash position: $3,356,000.
  • Estimated funding available for 3.53 quarters.
  • Related party payments totaled $194,000.
  • Continued regulatory and environmental management.
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.