Pancontinental Energy NL (PCOGF)

[DrillaHill]

Dempsey 1st thin zone flowed naturally but sub-commercial
- preperations underway to test the next zone...

fingers crossed!

Dempsey Gas Zone Testing Update
Pancontinental Oil and Gas NL (ASX: PCL) (“Pancontinental”), is pleased to release
preliminary results of testing of the Dempsey-1 gas discovery in the Sacramento Gas Basin,
California. This initial result is part of a test program commencing with the lowermost gas
zone penetrated in the well.
The first zone to be tested is a thin sandy unit with poor reservoir characteristics based on
the wireline logs. Following perforation, the zone flowed naturally, without stimulation, dry
gas to surface and no water. The rates achieved are sub-commercial at current gas prices.
However analysis of the full potential of this zone is still at an early stage.
The tested zone has been isolated by a temporary plug and preparations are underway to
test the next, shallower zone of gas shows.