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Sacgasco Reports Further Significant Gas Shows at Dempsey

Source: www.gulfoilandgas.com 9/13/2017, Location: North America

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Sacramento Basin-focused natural gas developer and producer, Sacgasco Limited (Sacgasco) advises that the Dempsey 1-15 well in the Sacramento Basin in California has completed drilling the 8 1/2” vertical hole. Drilling last night intersected two further zones of high gas shows.

Shareholders and investors are advised that the significance of these shows will become more apparent when the wireline logs are run to more fully evaluate the intersected gas shows and reservoirs. The hole is currently being conditioned for logging. The Dempsey 1-15 well has been drilled to 2,970 m (~9,750 feet) to create sufficient hole to allow logging tools to fully evaluate the target reservoirs intersected to date.

Dempsey is drilling the largest undrilled mapped structural closure in the northeastern part of the prolific Sacramento Gas Basin and is interpreted to be optimally located to trap gas migrating out of gas generating areas located to the west and south.

Working Interests (WI) in the Dempsey Gas Project:

Sacgasco Limited (ASX: SGC) (Operator) 50%; Empyrean Energy PLC 30%; Pancontinental Oil and Gas NL 10%; and Xstate Resources Limited 10%.

Gary Jeffery, Managing Director of Sacgasco commented:

“As previously observed it continues to be very encouraging that since drilling out of the 9 5/8” casing, all potential reservoir zonesinterpreted from mud logs have been associated with significant gas shows. We are very pleased with the manner in which the drilling team has completed the drilling despite numerous zones of high gas shows in an area with very little drilling data as a guide.

The well will now be prepared for wireline logging to assess potential reservoir thickness and petrophysical characteristics before deciding to run and cement a protective 5” liner prior to flow testing.Updates will be provided on meaningful results from the evaluation of the target sandstone reservoirs.”

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