Sacgasco (SGC) has hit 92 feet of net gas pay at its key onshore Borba 1-7 well in the Northern Sacramento Basin, California
Sacgasco has drilled the well to 5510 metres with joint venture partner Xstate Resources (XST) and received important petrophysical logs from the area
On top of the 92 feet of gas pay, the oil and gas companies have reported "good to excellent" average zone porosity of between 14 per cent and 27 per cent
The companies are now making preparations to drill out towards the Guinda Sandstorms area, which is the second objective in the key drilling program
Once the drilling program is complete, Sacgasco will own 66.67 per cent of the Borba well, and Xstate will own the remaining 33.33 per cent
Shares in Sacgasco are up 4.4 per cent this afternoon to 9.5 cents each, while shares in Xstate are trading grey at 1.5 cents per share
