SGC 0.00% 0.4¢ sacgasco limited

Ann: High Gas Shows in Lower Guinda Formation Sandstone, page-265

  1. 89 Posts.
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    Well if you think that 90ft of pay may not qualify as commercial, please refer to below quick comparison from STX, and excuse me for mentioning another stock here but I feel the reference must be qualified.

    STX West Erregulla-2 well found Net pay of 10m, from 4,918m and porosity up to 16%.

    SGC/XST have found net pay of 28m at 3,795ft, and porosity of 14% to 27%.

    STX flow testing of this zone is further below. This individual zone was the only one tested I believe, and flowed 69 million cubic feet per day.

    69mmscf/d = 71,760 MMBtu @ $3.20 aud = ~$230k gross revenue per day. I didn't do too much research on current prices, this is calculated at $2.52USD per MMBtu, please correct me if this is wrong.

    Noting that this is only the first and also shallowest pay zone that XST/SGC have discovered, with already more substantial zones found lower with more to come.
    Ladies and gentlemen, we could have a monster producer here.



    https://hotcopper.com.au/data/attachments/3029/3029854-eb5263da6a069d5076646fac6127749e.jpg

    https://hotcopper.com.au/data/attachments/3029/3029856-8d888a497a64cc05c31a1f0fd4989710.jpg

 
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