Re: TXP/SGC/FOG/88E/PANR... (Sacgasco (SGC) - Borba Drilling...)
Just a quick update on Sacgasco:
After various delays, they finally were able to spud the high-impact Borba well, which is now currently drilling.
They've kept the market informed along the way, and so far, things look VERY encouraging for this prospect, which may be a 'play-opener' for other large prospects in the area.
Here's their latest news release:
From my previous post in early 2020:
This is a small company that trades on the Australian Exchange. They have natural gas exploration and production acreage in the Sacramento Basin in California.
They, along with a few partners, are preparing to drill and test a potentially very large gas prospect called Borba over the coming weeks and months.
When they drilled and tested the nearby Dempsey prospect a few years back, it was a gas discovery, but flowed just modest quantities, due largely to poor reservoir quality at this location.
They think the Borba location offers the possibility for better reservoir quality.
If it's successful, there's infrastructure not too far away for monetization, plus this area receives a premium for natural gas prices compared to other areas in the US."
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|Msg #||Subject||Author||Recs||Date Posted|
|129860||Re: TXP/SGC/FOG/88E/PANR... (Sacgasco (SGC) - Borba Drilling...)||JS490||0||3/19/2021 3:32:24 PM|