Ann: Share Issue to advance JV secured - 12-Sep-16-SGC.AX, page-10

The problem is they been trying to sell Dempsey for almost three years.

And failed to do anything.

Then the statement of proven reservoir at the main target level is a bit ambiguous.

If you look at the stylised cross section across Dempsey you can see that at the deeper levels the sedimentary section is condensed and distal from the sedimentary source IE predicted from the west

So if any sand grains have been deposited then they will most likely be fine grained which might result in a low porosity and permabillty reservoir.

A much better option would be re testing Alvares.