• Rougemont 5 and Rougemont 6 wells spudded and cased to an initial depth
• Surface casing successfully set at Rougemont 6 to a depth of 152 metres
• Rougemont 6 expected to reach its total depth of 540 metres by the weekend

State Gas Limited (ASX: GAS) has announced the commencement of drilling at its Rolleston West Project in Queensland, with two new exploration wells underway within ATP 2062. The program forms part of the Company's broader Exploration Program targeting a maiden 2P gas reserve of 30-50 petajoules (PJ), supporting State Gas's strategy to supply high-quality gas to the East Coast energy markets. The Rougemont 5 and Rougemont 6 wells have been spudded and cased to an initial depth of 12 metres. Surface casing has been successfully set at Rougemont 6 to a depth of 152 metres, and Rougemont 6 is expected to reach its total depth of 540 metres by the weekend. The two-well program remains on track for completion by the end of May 2025 and is fully funded through a $5.5 million exploration grant from the Queensland Government. Drilling results from Rougemont 5 and 6, including wireline logs and production testing, are expected to confirm the continuity and quality of the coal seams and support accreditation of a maiden 2P reserve of 30-50 PJ for the Rolleston West Project. Successful outcomes from the program will enable the Company to submit a petroleum lease application over a substantial portion of ATP 2062 and advance discussions with potential end users and pipeline infrastructure providers.

Drilling results are expected to support the establishment of a maiden 2P reserve targeting 30-50 PJ at the Rolleston West Project.