SGC: Borba 1-7 Flow Testing Update

Sacgasco Limited

ABN 83 114 061 433

Unit 14, 210 Bagot Road, Subiaco, WA, 6008.

T [phone] E [e-mail]

Announcement to ASX

20 April 2021

Borba 1-7 Flow Testing Update

• Completion and Testing rig onsite at Borba 1-7 Location.
• Flow Testing of the Kione formation will commence this week once all equipment is in place.

Sacgasco Limited (ASX: SGC) ("Sacgasco" or "the Company") is pleased to announce that the completion and testing rig is now onsite and ready to commence tubing preparation, perforation and then flow testing of the Kione Formation in the Borba 1-7well in the coming days.

The Working Interests in the Borba 1-7 well completion and testing are:

	Working Interest
Sacgasco Limited (Operator) (ASX: SGC)	66.67%
Xstate Resources Limited (ASX: XST)	33.33%

Further updates will be provided as results are received.

For and on behalf of the Board of Sacgasco Limited.
Gary Jeffery	Ben Jarvis
Managing Director	Six Degrees Investor Relations
[phone]	[phone]

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Sacgasco Limited

About Sacgasco Limited (ASX: SGC)

Sacgasco Limited is an Australian-based energy company focused on under-explored, recently over-looked, world class oil and gas opportunities near under-supplied markets.

The current prime focus is on conventional gas exploration and production in the Sacramento Basin, onshore California. Sacgasco has an extensive portfolio of natural gas producing wells and prospects at both exploration and appraisal stages, including multi-Tcf opportunities. The Company is targeting gas supply to the local Californian gas market and burgeoning LNG market in North America. Sacgasco is of the view that the size of the prospects in California have the potential to supply domestic Californian natural gas and export LNG markets.

Sacgasco is in the process of acquiring undervalued oil producing assets in Alberta, Canada to complement its current natural gas assets.

www.sacgasco.comTwitter: @SacGasCo

The technical information provided has been supervised and reviewed by Mr Gary Jeffery, Managing Director of Sacgasco Limited. He is a qualified geophysicist with over 48 years technical, commercial and management experience in exploration for, appraisal and development, and transportation of oil and gas and mineral resources . Mr Jeffery is a member of the American Association of Petroleum Geologists with over 48 years of oil and gas Industry experience. He is a Competent Person under the relevant ASX Listing Rules and has supervised the interpretation reported on in this release, and consents to the inclusion of the information in the form and context in which it appears.

This document contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they and or their timing may be affected by many variables which could cause actual results or trends to differ materially.

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