QPM Energy Limited announced a significant upgrade to its Moranbah Gas Project reserve estimate. The independent evaluation by Netherland Sewell & Associates Inc has revised the project’s 2P gas reserves to 435 petajoules as of April 2025, marking an increase of 104 petajoules (or 31%) from the previous March 2024 estimate. The detailed assessment includes both proved and probable reserves, with figures reflecting substantial volumes in developed producing and undeveloped justified for development categories. Also notable is the company’s portfolio of over 300 petajoules in uncontracted gas reserves, positioning the project as one of the largest in the Eastern Australian gas market. Since acquiring the project in August 2023, QPM Energy Limited has already enhanced the reserve base by 166 petajoules, which underscores ongoing confidence in the asset’s potential. The announcement highlights a comprehensive reassessment that integrated historical production data and the outcomes of a successful workover program, reinforcing a growing understanding of the geological and resource base at Moranbah. CEO David Wrench expressed strong optimism, emphasizing that the milestones achieved support the view that the project is a tier 1 gas asset with considerable future growth prospects. While the company’s technical and economic assessments are based on current commercial contracts and reasonable cost estimates, forward-looking statements remind investors of inherent uncertainties in future performance and market conditions. Bullish sentiment stems from the dramatic reserve upgrade and the robust portfolio of uncontracted gas, signaling potential for accelerated commercialisation and further reserve enhancements. The upgraded resource base and strategic work programs suggest a promising trajectory for profitability and market expansion. Conversely, a bearish perspective might note the reliance on forward-looking assumptions and the inherent risks associated with future commodity price fluctuations and operational cost uncertainties. Overall, the announcement provides important technical insights and strategic direction for those monitoring emerging opportunities in the gas market.