State Gas (ASX:GAS) has begun drilling activities at its Rolleston West project in Queensland, with two new exploration wells underway within ATP 2062, according to a Thursday filing with the Australian bourse.
The Rougemont 5 and Rougemont 6 wells have been spudded and cased to an initial depth of 12 meters, per the filing.
The gas explorer said results will support the establishment of a maiden 2P reserve targeting 30 to 50 petajoules at Rolleston West.
State Gas' shares were up 3% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.