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State Gas Limited (ASX:GAS)

ALERT: Price-sensitive ASX Announcement for GAS
Current share price for GAS : $0.011 -0.003 (-21.43%)+
Announcement
Release
13 Jul 2026 9:53AM
Price at Release
$0.014
Full Release
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Summary
State Gas Limited has completed a review with the Australian Taxation Office (ATO) regarding its Research and Development (R&D) tax concession funding for the fiscal year ending 30 June 2024. This review confirmed the eligibility of the company’s HDNG pilot plant expenditure, resulting in the release of $4.1 million in R&D funding. The funds will be used to repay working capital loans and bolster the company’s cash reserves. Additionally, State Gas Limited holds significant gas exploration and development assets in Queensland, with projects like Rolleston West and Reid’s Dome focused on conventional and coal seam gas production. These projects are strategically positioned to support the east coast energy market through innovative solutions such as virtual pipelines. The company is also engaging in detailed planning and discussions to progress its Rolleston West Project, which has confirmed substantial gas reserves.
Key Points
  • ATO review of R&D concessions is complete with $4.1 million funding approved.
  • Funds to be used for repaying working capital loans and increasing cash reserves.
  • State Gas Limited focuses on gas exploration and development in Queensland.
  • Rolleston West Project has significant gas reserves supporting development plans.
  • Company is progressing towards commercializing its gas assets with innovative solutions.
  • Projects aim to support the east coast energy market with pipeline-quality gas.
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.