Pancontinental Oil & Gas sees most significant gas shows to date

Company News

by Jessica Amir

Pancontinental Oil & Gas (ASX:PCL) has announced the Sacramento Basin in California has unveiled its most significant gas shows to date.

The junior oil and gas company says the site, the Dempsey mine, is testing the largest undrilled structure in the northeastern Sacramento basin.

And the Dempsey 1-15 well has now drilled through hard siltstone/shale into primary gas bearing sand.

Pancontinental Oil & Gas which has a 10 per cent stake in the project says the findings are significant for its investors and shareholders.

Shares in Pancontinental Oil & Gas (ASX:PCL) closed 50 per cent higher to 0.3 cents.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.