Sydney Gas (SGL)

Shares / Stock Code

SGL

Stock Exchange / Sharemarket

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Sydney Gas (SGL) is a coal seam methane gas Company. Its core focus is on the exploration, development, production and marketing of coal seam methane gas projects in the Sydney Basin, NSW. Sydney Gas listed on the Australian Stock Exchange on June 27, 1996. The joint venture (JV) projects of the Company are Camden Gas Project JV, Hunter Exploration JV and Sydney Exploration JV. Sydney Gas formed a joint venture with AGL in 2005 for the operation of Camden Gas Project. AGL and Sydney Gas are also undertaking exploration activities at Hunter Gas Project for the coal seam natural gas resources. The significant coal resource available at Hunter and the Company’s ideal location to deliver gas to the key markets of Sydney, Newcastle and Wollongong provide competitive advantages to SGL. SGL is situated in the close proximity to Sydney resulting in the low transportation costs to supply the gas to the market. Presently New South Wales is sourcing natural gas from South Australia and Victoria. Coal seam natural gas is ideal transition energy for NSW to move towards greener energies as it produces far less greenhouse gases as that of burning coal. Sydney Gas is focused on sourcing coal seam natural gas locally in order to make NSW self-sufficient in its increasing energy demands. SGL received an injection of investment from the AJ Lucas Group Ltd in 2008. At present, AJ Lucas has the 19.9% shareholding in Sydney Gas. AJ Lucas has contributed significant expertise and resources to SGL.

Sydney Gas History

Sydney Gas was the first Australian commercial producer of natural gas, founded in 1987, with its initial production based in the Camden area. SGL floated on the Australian Stock Exchange in June 1996. The company re-focused its activities in 1998 from mineral exploration to CBM development. The Company previously operated as Desertstone. The Company’s one subsidiary still holds one exploration tenement in South Australia, with its other subsidiaries either disposed of or in the process of being disposed.