Good one Oil Baron, it seems the penny is finally starting to drop. You are right about GJ's theory of the broader Sac Basin. If a deeper zone at Dempsey proves up, look out, as they have multiple targets to drill after Dempsey and Alvares. Let's also not forget the existing producing fields which are still underdeveloped.
It is also worth going back to GJ's 2016 Good Oil presentation where he compares this to PNG in the 70s, except as you correctly point out, our first well is a sand wedge from a pipeline tie in. Also no helicopter assisted drilling, jungles, etc. We are in the middle of a flat almond plantation. The value of some of the companies with exposure to these onshore PNG fields is massive.
And all this for a company with less 250m shares on issue. I can see where you get $1-$2 from.
If US investors start to get a sniff of this, it has all the hallmarks of doing what LNG Limited did, except in this case, SGC actually has real assets behind it.
Good luck to all. Testing can't be too far away.
SGC Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
(20min delay)