NEW multi TCF well to be drilled come xmas
needs news on farmouts imo
boom boom coming imo
Borba Natural Gas Prospect – The company is gearing up for drilling of the Borba (aka Anzus) Prospect and a preferred location has been chosen for the Well with an application to drill also being prepared as informed in the prior quarter update. It is located less than 2 miles from the existing sales gas pipelines, and the vertically stacked conformance of seismic anomalies is much greater than at the Dempsey 1-15 well, which had over 4,000 feet of gas saturated sediments when drilled by Sacgasco. The surveying of the well location, which was earlier delayed due to wet surface conditions, was completed after the end of the March 2019 quarter.Also, the company believes that the Borba prospect is in an optimal location to test potential for channel fill sand reservoirs for its next drilling target. The well’s location is within a 3D seismic data volume. An undrilled amplitude anomaly interpreted to indicate gas filled sands will be intercepted in the shallower Forbes Formation by the Borba 7-1 well. The interpreted individual gas traps range from structural to stratigraphic in nature. The interception of good reservoirs at this location will calibrate more extensive seismic anomalies and gas resource potential in the region..
At the end of January 2017 prior to Dempsey share price was around 8 cents from memory.
no different this time except we have "Borba the Beast".
267 million shares on issue.
46% stake for $1.2 MILLION outlay without extra farm out arrangement.
chasing a 6 +Tcf field of gas.
Do the math !!!
looks like feb drill IMO another CR is a must imo BIG target ..very exciting play over next few months
both sgc and xst have little cash expect CR soonish imo..
Here are December’s top 10 oil & gas small caps"
from st0ck head.
SGC makes the list.
#9 Sacgasco (ASX:SGC) +18%
Meanwhile, Sacgasco is gearing up to spud the Borba 1-7 well in California after receiving a drilling permit from the California Division of Oil, Gas and Geothermal Resources.
Borba is expected to have high pressures in the target reservoirs, which should result in high gas flow rates.
There is access to gas infrastructure and a major gas market in California, which is seven times larger than the Western Australian gas market.
Drilling of Borba 1-7 is expected to start in late January or early February.
looks like a march drill imo
march my drill call and a CR before ..imo
smashed ,, a gift imo drill in march imo