Latest Eastern Gas (ASX:EGA) News

Eastern Gas has signed a non-binding term sheet for up to A$10 million in R&D-backed debt, including an initial drawdown of up to A$1.5 million. The proposed funding comes with 9% interest, multiple fees, options and security over future R&D rebates.

Eastern Gas’s Venus-2H horizontal well in Queensland’s Surat Basin reached total depth, intersecting Venus-1 and revealing extensive Macalister Lower coal with peak gas readings of 42.3%. The integrated well system now advances to dewatering and flow testing to gauge production potential.

Eastern Gas Corporation reports robust gas indications and steady progress at its Venus-2H horizontal appraisal well in Queensland's Surat Basin, advancing toward a key well intersection and flow testing phase.

Eastern Gas Corporation has initiated drilling of the Venus-2H horizontal appraisal well in Queensland’s Surat Basin, marking a significant advancement in evaluating its contingent gas resources and potential commercial development.

Eastern Gas Corporation Limited has addressed ASX concerns regarding trading by a non-executive director and a related entity during a closed period, outlining remedial actions and governance reviews.

Eastern Gas Corporation Limited is set to raise $5.5 million through an IPO to fund drilling and flow testing at its Queensland gas exploration permits, aiming to prove commercial viability in the Surat and Cooper Basins.