State Gas, in joint venture with Santos QNT Pty Ltd (State Gas 35%, Santos 65%), was announced preferred tenderer for two new exploration permits, ATP 2068 and ATP 2069. ATP 2068 was granted to the joint venturers in July 2022, while ATP 2069 is to be issued once native title processes are complete.

The two new areas are adjacent or in close proximity to both State Gas’ existing Reid’s Dome and Rolleston-West Projects. ATP 2068 effectively provides acreage connectivity between State Gas’ Reid’s Dome and the Santos interests to the east, while ATP 2069, when awarded, will provides both potential access to markets (it is bisected by two high pressure export pipelines) and connectivity to the Santos operated Arcadia Valley project to the east.
Both blocks are highly prospective for coal seam gas in the Bandanna Formation as indicated by commercial production on adjacent acreage. The blocks also contain targets for conventional gas. During the period, seismic reprocessing was completed on both tenements and exploration plans for the upcoming year are currently being approved by the joint venture operating committee.