Wireline logging and preliminary analysis of the well showed that multiple gas bearing sands had been penetrated between 1,058 metres and 2,067 metres, with a minimum of 32 metres of gas bearing sands identified.

The company has said that further gas zones are likely to be present at greater depth, with gas present at the base of the well. Metgasco said it will review the current resource estimate for the Kingfisher field in the coming week, which is expected to significantly increase.

Managing Director David Johnson said “Kingfisher is a major new gas discovery. This is the first significant conventional gas discovery in over a century of exploration in New South Wales. Over the next three months, we will be undertaking further testing on the Kingfisher field. This will allow us to determine the full potential of the field.”

Metgasco has previously said it plans to investigate the feasibility of supplying the proposed 30 megawatt gas-fired Richmond Valley Power Station with conventional gas from its Kingfisher field.

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The company has also recently completed land requirements and connection studies required for the Richmond Valley Power Station, as well as environmental studies for the 145 km Lions Way Pipeline, which will run from Casino, northern New South Wales, to Ipswich in Queensland, providing Metgasco with access to larger and growing markets in South East Queensland.