InvestSMART

State Gas Limited (ASX:GAS)

ALERT: Price-sensitive ASX Announcement for GAS
Current share price for GAS : $0.015 -0.008 (-34.78%)+
Announcement
Release
31 Jul 2025 2:57PM
Price at Release
$0.023
Full Release
download
Summary
State Gas Limited's Quarterly Activities and Cashflow Report for the quarter ended 30 June 2023 details the company's progress in advancing its Rolleston West and Reid’s Dome projects in Queensland. Key activities included successful completion of gas production testing, securing of a gas sales agreement to support East Coast markets, and significant progress on infrastructure, including a pipeline and compression facilities. The company also outlines its financial position, reporting its cash balance, expenditures, and planned activities for the next quarter focused on bringing its projects online and generating revenue.
Key Points
  • Quarterly report covers activities to 30 June 2023.
  • Significant progress made at Rolleston West and Reid’s Dome projects.
  • Completion of successful gas production testing.
  • Gas sales agreement signed to supply East Coast gas market.
  • Development of pipeline and compression infrastructure underway.
  • Cash position and expenditure details provided in Appendix 5B.
  • Planned activities for next quarter include project commissioning and revenue generation.
  • Emphasis on supplying much-needed gas to the Australian East Coast market.
  • Company is focused on transitioning from explorer to gas producer.
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.