State Gas Limited (ASX: GAS; OTC: STGSF) is a Queensland-based natural gas exploration and development company focused on the southern Bowen Basin in central Queensland, Australia. Incorporated in 2017 and headquartered at Suite 4, Level 1, 40 Edward Street, Brisbane, the company 100% owns and operates the contiguous Reid’s Dome gas project (PL-231) and Rolleston-West gas project (ATP 2062), spanning approximately 1,595 square kilometers and containing both coal seam gas and conventional gas resources; it also holds a 35% interest in ATP 2068 and ATP 2069 through a joint venture with Santos QNT Pty Ltd (65%). State Gas commercializes its assets via an innovative virtual pipeline solution for transporting compressed natural gas by truck to pipeline infrastructure or end users, alongside its High Density Natural Gas (HDNG) facility supporting alternative fuels for coal mining and industrial customers seeking to displace diesel and reduce emissions; operations target east coast Australian gas markets, with projects located 30-50 kilometers from the Queensland Gas Pipeline. Recent developments include the commencement of drilling for Rougemont 5 in April 2025 to confirm 2P reserves at Rolleston-West, advancement of new wells into production testing phase as of July 2025, restoration of site access in June 2025 following prior interruptions, progression of permanent tenure applications and pipeline connections, and anticipation of R&D grant funding to support expanded exploration and HDNG commercialization activities.