Pancontinental Energy NL (PCOGF)

[DrillaHill]

Final "Significant Gas Shows at Dempsey" update (@2970m)

clients2.weblink.com.au/news/pdf_1%5C01895479.pdf

Drilled through additional significant gas shows before reaching target Total Depth & Conditioning the hole for wireline logging at Total Depth of 2,970 m (~9750 feet).

Gary Jeffery, Managing Director of Sacgasco commented:
“As previously observed it continues to be very encouraging that since drilling out of the 9 5/8” casing, all potential reservoir zones interpreted from mud logs have been associated with significant gas shows. We are very pleased with the manner in which the drilling team has completed the drilling despite numerous zones of high gas shows in an area with very little drilling data as a guide. The well will now be prepared for wireline logging to assess potential reservoir thickness and petrophysical characteristics before deciding to run and cement a protective 5” liner prior to flow testing. Updates will be provided on meaningful results from the evaluation of the target sandstone reservoirs.”

GLA