Eastern Gas begins work on 130PJ project
- Eastern Gas has started field operations at its 100%-owned Venus Project in the Surat Basin.
- Following the operational announcement, the company's share price remained unchanged at $0.135.
- The campaign aims to progress the appraisal of an independently certified 130-petajoule contingent gas resource.
Eastern Gas Corporation (ASX:EGA) has commenced field operations at its 100%-owned Venus Project to evaluate a 130-petajoule gas resource.
This initiative marks the first operational campaign for the explorer since listing on the Australian Securities Exchange earlier this year.
Construction of the drilling pad has started for the Venus-2H horizontal appraisal well in Queensland's Surat Basin.
The company stated that workover operations on the existing Venus-1 well will begin on July 8.
Following the announcement, the Eastern Gas Corporation share price was unchanged at $0.135.
The project aims to collect technical data on gas deliverability and reservoir pressure across the Walloon Coal Measures.
The programme serves as an important step towards future commercial gas development.
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