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- State Gas (GAS) has found early success in its first well at its new Rolleston-West Gas Project in Central Queensland
- The Rougemont-1 well confirmed the existence of gas-bearing coal seams in the Bandanna coal measures within the project area
- Core samples have been taken from the well with 100 per cent recovery
- On the market, State Gas is down 1.89 per cent and is trading at 52 cents per share
State Gas (GAS) has found early success in its first well at its new Rolleston-West Gas Project in Central Queensland.
The Rougemont-1 well confirmed the existence of gas-bearing coal seams in the Bandanna coal measures within the project area.
Gas observed bubbling from the coal and field values indicates gas content is likely to be within expectations.
The well spudded on May 14 and reached a target depth of 800 metres a few days later.
Core samples have been taken from the well with 100 per cent recovery.
Rougemont-1 confirmed the intersection of eight metres of net coal, hosted in a number of seams, with the thickest seam measuring around 2.2 metres.
“It is always gratifying to receive positive results that justify the decision to compete for new gas acreage,” Executive Chairman Richard Cottee said.
“These results more than justify that decision, and indicate gas contents similar to those hosted in other Bandanna coals, which led to the company applying for this acreage,” he added.
The Rougemont-1 well is the first of two planned wells being drilled to evaluate the highly prospective Bandanna coals in the eastern arm of the Rolleston-West permit.
On the market, State Gas is down 1.89 per cent and is trading at 52 cents per share at 11:11 am AEST.
