Sunshine Gas (SHG)

Shares / Stock Code

SHG

Stock Exchange / Sharemarket

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Sunshine Gas (SHG) is a gas production company principally focused on the exploration, evaluation and development of conventional gas and coal seam gas (CSG) and oil reserves. The Company is undertaking exploration activities for CSG in Queensland. SHG is also involved in the exploration of conventional gas at Overton in the Bowen and Surat Basins in Queensland. Sunshine Gas listed on the Australian Stock Exchange (ASX) on 3rd July, 2002. SHG owns potential coal seam gas landholdings in Queensland, which are in different stages of exploration, evaluation and development. The holdings include 12 authorities to prospect (ATPs) together with three production licenses spanning over an area of 30,000 square kilometers in the Bowen, Surat and Cooper Basins. The Company’s other advanced projects are Atria CSG project and CSG projects with WestSide Corporation Ltd farming-in to 50%. The principal projects of the Company are Lacerta - ATP 795P & ATP 767P; Polaris - ATP 768P; WestSide Farm-In - ATP 688P, ATP 769P, ATP 693P and ATP 811P, and Red Rock - ATP 684P. Lacerta CSG project is the most developed project of the Company, with three pilot wells producing an average of 40.7mcfd. The company operates a joint venture project with Hurricane Exploration, UK Continental Shelf project and it holds a 50% interest in offshore blocks in the UK. Sunshine Gas Limited was compulsorily taken over by Queensland Gas Company on December 5, 2008.

Sunshine Gas History

SHG holds a balanced asset portfolio comprising high-risk but high-impact projects like the UKCS JV with Hurricane Exploration plc. The JV now comprises 14 blocks west of the Shetland Islands on the UK Continental Shelf, a high-impact play. As at 2Q07, 16 pilot wells were completed at the Lacerta Project together with 12 coreholes to collect geological information to estimate resources. Lacerta hosts 230Bcf contingent resources of CSG.