Latest Eastern Gas News

Eastern Gas has completed its Venus-2H horizontal appraisal well with 445 metres of interpreted coal contact, but the result now faces a more immediate test: whether the company can fund flow testing with only A$654,000 in cash. Gas deliverability remains unproven, while a proposed A$10 million R&D-backed facility is yet to be finalised.

Pure One Corporation Limited (ASX:P1E) ended September with A$1.219 million in cash after a A$5.971 million quarterly outflow. The company reports A$7.302 million in unused financing facilities, but its stated funding coverage remains just 2.32 quarters at the latest burn rate.

Pure One Corporation Limited (ASX:P1E) reported FY26 net profit after tax of A$5.070 million, alongside A$7.191 million in cash and term deposits. The company is positioning battery-swappable heavy vehicles and electric vans as its growth engine, while retaining sizeable interests in gas and clean-energy ventures.

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.

Pure One Corporation has made strides in zero-emission commercial vehicles with new battery-swap and electric models arriving in Australia, backed by a strengthened balance sheet from a $3.5 million tranche of Turquoise Group sale proceeds.

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.

Pure One Corporation Limited has advanced its zero-emission mobility strategy with a new local vehicle assembly partnership, expanded US hydrogen market collaborations, and progressed the spin-out of its Australian gas assets via Eastern Gas IPO.

Eastern Gas Corporation Limited, a new ASX-listed subsidiary of Pure One Corporation, has lodged a Replacement Prospectus to raise $5.5 million for advancing its Queensland gas projects, targeting commercial production through horizontal drilling and fracture stimulation.