Eastern Gas Corporation Limited (ASX: EGA) announced on 28 August 2026 that its Venus-2H horizontal appraisal well had successfully reached a total depth of 1,450 metres at Project Venus in Queensland’s Surat Basin. The well also intersected the existing Venus-1 vertical wellbore at approximately 927 metres, establishing the planned connection between the two wells. Across the production wellbore, the company identified 445 metres of interpreted net Macalister Lower target coal and recorded repeated gas shows, with a peak total gas reading of 42.3%.

The company will now complete the integrated Venus-2H/Venus-1 system before commencing dewatering and flow testing. This next phase will assess reservoir pressure, water production, gas breakthrough and subsequent flow performance. Eastern Gas noted that the gas shows demonstrate the presence of hydrocarbons but do not indicate future production rates or commercial recoverability. 

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au