State Gas Limited is an Australia-based company. The Company is focused on oil and gas exploration business. The Company’s project PL 231 is located in the Denison Trough in central eastern Queensland, approximately 545 kilometer northwest of Brisbane and 50 kilometer southwest of Rolleston. PL 231 hosts two targets: the primary focus for State Gas in the short to medium-term is a conventional, shallow gas target in the Cattle Creek Formation, a marine sandstone source rock. A secondary target is the underlying Reids Dome beds. The underlying Reids Dome beds are anticipated to be at least 2,770 meters thick.