RE: Q&A with Gary Jeffery, Managing Dir11 Dec 2017 03:32
CCORRECTION TO AUTOCOMPLETED POST....
Q2--: have your observations / conclusions to date about Dempsey changed?
 It is our view that Dempsey is a large, clean dry natural gas charged structure without any
observed water with the potential for significant production below the Rancho Capay field
reservoirs.
 In my view, Dempsey is already a very significant natural gas discovery. There already is and
will be increased competition for other prospective areas in the Basin and consequently we
must, in the interests of investing shareholders, protect some of the detail that does not have
direct monetary impact on shareholders, but which provides us with competitive advantage.
The evaluation and learning process for us all is continuous and exponentially material due to
the under‐explored nature of the Basin.
 To summarise:
o We already have a significant natural gas resource at Dempsey in the lower interval
of interest;
o We expect to be soon producing quality gas and seeking to improve flow rates;
o The testing of Dempsey has only just begun and my views of its potential are perhaps
changed in technical detail, but not diminished
○ Moreover, the more important message is that we are the first company in almost 100 years
of exploration to prove up the older structures in the Sacramento Basin, and the associated
potentially huge petroleum system; and, furthermore we are poised to lead the appraisal and
development of it.
 For a small company, Sacgasco has an impressive lease and infrastructure base in the Basin which we have built up over the last few years so we are in the box seat here.
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