Strong start for State Gas

A map of PL 321 in the Bowen Basin.

A map of PL 321 in the Bowen Basin.

Shares in State Gas Limited closed up 75 per cent on its debut on the ASX yesterday, with over a million shares traded.

State Gas shares closed at $0.35, with the company’s market capitalisation sitting at $47 million after the first day of trading.

State Gas holds a 60 per cent interest in PL 231 (Reids Dome) in the Bowen Basin in southeast Queensland, which holds a conventional gas project in the Denison Trough.

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