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Australian Gas Company (AusGasCo) Pty Ltd is a new entrant into the Australian energy industry focused on prospective gas exploration and appraisal opportunities with access to the Australian East Coast Gas Market. The founders of AusGasCo have a proven Australian petroleum industry track record.

 

AusGasCo's Strategy:

 

           Secure low cost onshore gas assets with access to the Australian east coast market

 

           Develop a vertically integrated model with strategic midstream and downstream partnerships

 

           Remain agile and implement a lean operating model backed by an experienced team

 

           Focus on delivery to Australian domestic industrial and retail customers​​​

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AusGasCo's current portfolio includes four (4) Authority to Prospect (ATP) tenures covering >240,000 acres which are prospective for Coal Seam Gas (CSG) in both the Surat and Bowen Basins, Queensland, Australia. CSG production from these two basins account for ~80% of the Australian East Coast Gas Market (ECGM) or >4PJ/day. AusGasCo's tenures have a best estimate contingent and prospective resource of 376PJ with upside potential to 761 PJ (evaluated by third party reserve estimator Netherland, Sewell & Associates, NSAI).

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The ECGM forecast prevailing gas flow and gross demand synopsis:

  • CSG dominates Queensland and the Australian ECGM production supplying >1500PJ/year (Bowen and Surat CSG)

    • ~580 wells drilled in 2024, ~680 wells drilled in 2025, 204 wells drilled 2026 Q1

  • The Walloon Coal Measures, Surat Basin, supplies the largest volume contributing >65% to the ECGM with an avg. 2024 daily production of ~3.5PJ at the lowest estimated production cost

    • In comparison total conventional gas production in Queensland during 2024 was ~3% of the gas volumes produced from the Walloon Coal Measures

    • Published 2C Resources production costs are >20% less in the Surat Basin than published 2P Reserves conventional production costs in the Cooper Basin

  • The Queensland CSG to LNG industry is only ~11 years into the project lifecycle with a consistent supply imbalance narrative

    • Wallumbilla LNG netback 2026 forward price forecast jumped from $13.68/GJ to $21.09/GJ (>50%) on the back of recent global events

    • Average gas producer domestic contract prices for long term supply in 2026/27 range between $13.00/GJ to $14.00/GJ

    • ECGM step change supply shortfall forecast in 2030 with peak-day supply shortfall risks earlier in 2028 dominated by southern states demand and existing field decline

  • In the absence of commercial gas discoveries in new plays and/or frontier basins the reliance will increase on Queensland’s CSG supply through incremental development with existing infrastructure coupling

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