No. XST was planing to fund the re testing and drilling wells in...

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WhiteNoise

6,650 Posts.

01/09/16

09:24

Post #: 18846543
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Originally posted by agentm ↑

you have to think that SGC has some issues on being credible, i am not a shareholder there, but the announcements seem remarkable

2104

CORPORATE UPDATE
Summary:
 Potential investor withdraws from funding commitments
 Discussions progressing well with potential funding partners in North America
 Dempsey Prospect drilling application proceeding as planned
 AOC exploring options to commence drilling at Dempsey and Alvares Prospects earlier than anticipated

SEPTEMBER 2014 QUARTERLY ACTIVITY REPORT

 AOC working to commence drilling at Dempsey and Alvares
Prospects earlier than anticipated

2015

MARCH 2015 QUARTERLY ACTIVITY REPORT

 Discussions continuing with potential funding partners for drilling
of Dempsey and Alvares prospects

Furthermore, AOC continued to advance discussions with potential funding
partners who have expressed interest in participating in the development of the
Dempsey and Alvares prospects.

JUNE 2015 QUARTERLY ACTIVITY REPORT

 Discussions underway with a number of potential funding partners
for drilling of Dempsey prospect in calendar 2015.

AOC is working diligently to secure the required funding to drill the Dempsey
prospect and is continuing discussions with potential funding partners who
have demonstrated a strong interest.

SEPTEMBER 2015 QUARTERLY ACTIVITY REPORT

Discussions progressing with a number of potential funding partners
for drilling of Dempsey prospect in early 2016.

DECEMBER 2015 QUARTERLY ACTIVITY REPORT

Discussions progressing with a number of potential funding partners
for drilling of Dempsey prospect in 2016.

MARCH 2016 QUARTERLY ACTIVITY REPORT

 Positive outlook for oil and gas investment climate bodes well for
near term development of SGC’s conventional gas assets.

Furthermore, the Board is encouraged by increasing investor interest in the oil and gas sector, and in
particular Sacgasco’s conventional gas assets. Discussions around funding options are progressing
well, targeting the commencement of drilling at Dempsey Sacramento Basin in 2016.

JUNE 2016 QUARTERLY ACTIVITY REPORT

 Positive outlook for gas prices has created renewed interest in the
planned Dempsey well and near term development of SGC’s
conventional gas assets.

question remains

can they achieve any progress on this in 2016???

Expand

No.

XST was planing to fund the re testing and drilling wells in mid/late 2014 by either a farmout or capital rasing. Likewise for SGC

As the board of SGC didn't want to dilute there share registry and sole focus on a farmout since Jan 14, this idea was killed off by removal of the XST MD.

Since then Directors of both companies have done zero in my view, no increased in landholdings and no drilling.

But they have been paid.

XST Price at posting: 1.3¢ Sentiment: Hold Disclosure: Held
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