Past year: ▼ 68%(0.90c – 3.10c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2026quarterly activities report▲ Good
June quarter: $4.1M R&D refund received 16 July 2026, repaying the R&D bridging loan and part of the director loans. The Rolleston West Concept Study is substantially complete with lower capital costs. A foundation HDNG customer is identified, with a funding proposal submitted to Queensland Treasury.
13 July 2026other▲ GoodMajor
The ATO completed its review of the FY2024 R&D claim and confirmed the costs claimed. $4.1M will be released before end-July 2026 and used to repay all working capital loans, resolving the open R&D thread; the remainder goes to cash reserves.
30 Apr 2026quarterly activities report● Neutral
March quarter: Rolleston West Concept Study began (10-30 TJ/d), and a re-evaluation of deeper Reid's Dome targets is reported. Early talks with partners on farm-in and co-investment. Confirms the unsolicited HDNG offer lapsed, though talks continue on synergies. Company says a sale was not the best value route.
30 Mar 2026asset acquisition disposition● NeutralMajor
Directors decided not to proceed with an unsolicited offer to buy the HDNG pilot plant plus a long-term gas supply deal, as terms could not be agreed. The ATO is seeking more information on the FY2024 R&D claim, which was expected to finish by 31 March 2026.
30 Mar 2026other● Neutral
ASX notice that the suspension will lift immediately after State Gas releases its update on the proposed asset sale and R&D claim. Administrative, no new information.
26 Mar 2026other● Neutral
State Gas requested a voluntary trading suspension until 30 March 2026 to finalise negotiations on a proposed material sale of its R&D pilot plant and clarify the status of its R&D incentive claims. This follows the 24 March pause; the reason is now disclosed.
24 Mar 2026other● Neutral
ASX paused trading in State Gas securities on 24 March 2026 pending a further announcement. The notice gives no reason.
16 Mar 2026half year report● Neutral
Interim report for the half year to 31 December 2025. Visible text covers the corporate directory and NSAI reserve competent person statements; financial figures are not visible in the readable text.
3 Mar 2026investor presentation● Neutral
Company update presentation dated 3 March 2026. The visible text is disclaimers and previously released material, including the 30.2 PJ reserve; no new information is shown.
30 Jan 2026quarterly activities report● Neutral
December quarter: restates the 30.2 PJ maiden 2P reserve (derived from four wells) and the $3.2 million convertible note raise. Company has begun early talks with potential co-investors about farm-out, joint venture, offtake or presale. HDNG discussions with coal mines continue; no new supply is reported.
14 Jan 2026debt financing▼ BadMajor
ASX waived Listing Rule 10.1, letting State Gas give directors St Baker and Stretch second-ranking security over all its assets for new working capital facilities and their earlier loans. The company says other lenders declined to advance debt funding. Security is behind an R&D funder.
8 Dec 2025capital raising announcement● NeutralMajor
State Gas has firm commitments for $3.2 million of unsecured convertible notes, convertible at $0.04, a 33% premium to the closing price, plus attaching $0.05 options. Directors will convert $0.5 million of loans. Issue needs shareholder approval in 2026; funds are treated as loans until then, and fund pre-development at Rolleston West.
20 Nov 2025resource reserve update▲ GoodMajor
NSAI certified a maiden 2P gas reserve of 30.2 PJ (44.1 PJ 3P) for Rolleston West, resolving the reserve report due end September. The company cites gross undiscounted value of $360-510 million and a 10 TJ/d pipeline-connected project; no 1P reserves are included.
20 Nov 2025investor presentation● Neutral
AGM company update presentation. It carries disclaimers and previously released material, including the 30.2 PJ reserve; the text provided shows no new information.
20 Nov 2025other▲ Good
AGM address by the chairman highlights the 30 PJ maiden 2P reserve and plans for studies, tenure applications and offtake talks. He says HDNG sales are slowed by coal markets, and claims asset value is many times market capitalisation. Largely repeats known facts.
31 Oct 2025quarterly activities report● Neutral
September quarter: NSAI's maiden 2P reserve certification for Rolleston West is 'well advanced', with an announcement expected next quarter. Field work was restricted to preserve capital. HDNG talks continue with coal mines, though sales are slowed by coal market conditions; a Concept Study is planned for early 2026.
9 Oct 2025agm notice● Neutral
State Gas will hold its 2025 AGM on 20 November 2025 at 3:00pm AEST. Director nominations close 17 October 2025. Administrative notice with no new operating or financial information.
30 Sept 2025annual report● Neutral
Annual report for the year to 30 June 2025. The chairman cites two milestones: positive results from the two new Rolleston West wells, and HDNG supplied to its first customer. Notes the landowner dispute consumed management time. Financial figures are not visible in the readable text.
30 Sept 2025other● Neutral
Corporate governance statement and Appendix 4G for FY25, describing board practices against ASX principles. Administrative; it carries no new operational or financial information.
25 Sept 2025price query● Neutral
ASX queried a jump in the share price from $0.022 to a high of $0.05 on heavy volume. State Gas replied it knows of no unannounced information or other explanation for the trading and says it is complying with disclosure rules.
24 Sept 2025other● Neutral
ASX paused trading in State Gas securities pending a further announcement. No reason is given in this notice; it follows the price query in the next release.
31 July 2025quarterly activities report● Neutral
June quarter: Rougemont 5 and 6 are dewatering, with production testing begun in July. Netherland Sewell (NSAI) is engaged to certify a maiden 2P reserve, report due end of September 2025. Grant balance and an interim insurance payment were received. HDNG supply remains paused, with the company citing a weak coal industry.
2 July 2025drilling result▲ GoodMajor
Rougemont 5 and 6 are completed with pumps installed, and dewatering and production testing can start. Each found 7.8 m of net coal. Results feed the resource model for an initial 2P reserve; the $5.5M Queensland grant fully funded the drilling.
5 June 2025regulatory community update▲ Good
State Gas and the landowner agreed on 4 June 2025 to let work resume immediately, resolving the 26 May blockade. The underlying dispute continues, including in the Land Court. Field teams are mobilising to complete Rougemont 5 and 6 and start flow testing by end of June.
27 May 2025other▼ BadMajor
Correcting its quarterly report, State Gas says it had 0.44 quarters of funding at 31 March 2025, not zero. It sets out a plan: grant funding, R&D claims with possible secured financing, an insurance recovery, and HDNG sales. Six-truck HDNG supply could start as early as Q2 FY26, and staffing has been cut.
26 May 2025regulatory community update▼ BadMajor
The Rolleston West landowner has again blocked access to the project assets, including the two partially complete Rougemont wells. State Gas says this breaches the access agreement and is going to the Land Court of Queensland to restore access. Repeats the November 2024 blockade.
30 Apr 2025quarterly activities report● Neutral
March quarter: Rougemont 5 and 6 were drilled and cased, with completion expected by end May 2025 and then production testing. The Appendix 5B reported zero quarters of funding (later corrected). HDNG expansion from two to six trucks (about 0.5 TJ/d) is still being worked on.
22 Apr 2025drilling result▲ GoodMajor
Rougemont 5 reached 579 m, logging 7.8 m of net coal from about 419 m with elevated gas shows, matching Rougemont 6. Confirms coal continuity across the area; both wells now to be completed and flow tested, by mid-May 2025, toward the maiden 2P reserve.
7 Apr 2025drilling result▲ GoodMajor
Rougemont 6 reached 572 m, intersecting 8.1 m of net coal from about 404 m with elevated gas shows. It confirms coal continuity 1.5 km north-east of Rougemont 2/3, supporting the 30-50 PJ maiden 2P target. Rig is moving to Rougemont 5.
3 Apr 2025drilling spud▲ GoodMajor
Rougemont 5 and 6 wells spudded, ending the delay from the access dispute. Rougemont 6 had surface casing set at 152 m and a target depth of 540 m. The two-well program is expected to finish by end of May 2025.
