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Pancontinental Oil & Gas, Tulainyo Project Update

- Studies are critically assessing deepening Tulainyo 2-7 to test a play with oil and gas-condensate potential below the current 1,800m drill depth.

- Oil or gas-condensate potential in the deeper structure has been linked to prominent oil seeps in outcrop.

- Outcrop studies also indicate the thickest reservoirs within the deeper undrilled closure, with significant estimated gas or liquids potential in these reservoirs.

- Testing of the shallower levels has been suspended without achieving commercial flow of gas. Results are being analysed to determine possible formation damage and evaluate reservoir quality.

- Studies will also optimise alternative well locations for operations later in 2018.

Pancontinental Oil & Gas NL (ASX:PCL) (“Pancontinental” or “Company”) provides this operations update for the Tulainyo 2-7 gas appraisal well in the Sacramento Gas Basin, California. Pancontinental is earning up to an effective 13.33% interest in the project.


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