Ann: Good Oil Conference Investor Presentation, page-22

XSTATE RESOURCES LIMITED
ABN 96 009 217 154

INTERIM FINANCIAL REPORT :

For the six months ended 30 June 2019

https://hotcopper.com.au/threads/ann-30-june-2019-interim-report.4957602/


The below points are of interest re : SGC : taken from these interims :


a. '' • In the Sacramento Basin, California, USA, the operator has undertaken preliminary studies in preparation of a drilling and workover program in late 2019. The operator has identified a drilling location for the
Borba prospect well (Xstate 24% working interest) which the operator believes is in an optimal location
to test potential for channel fill sand reservoirs for its next drilling target. ''


b. '' The joint-venture operator, Sacgasco Limited (ASX: SGC), has lodged a blanket bond to the total of USD$200,000 with the Californian Department of Conservation and Division of Oil, Gas and Geothermal Resources (DoGGR) in respect of the well licenses held in the Sacramento Basin onshore California area of interest.

The blanket bond is for coverage of up to 50 idle wells, a number that is significantly higher than the number of idle wells held by the joint-venture at current . ''