(1) That the underground stratum or formation sought to be acquired is suitable for the underground storage of natural gas and that its use for such purposes is in the public interest; and
(2) The amount of recoverable oil and native gas, if any, remaining therein. However, the commission shall issue no certificate until after public hearing is had on the application, pursuant to notice served in compliance with notice in civil actions in the circuit court, together with notice published at least once each week for two (2) successive weeks in some newspaper of general circulation in the county or counties where the gas is proposed to be stored. The first publication of the notice must be at least ten (10) days prior to the date of the hearing.