Sacgasco climbs as co secures oil offtake deal in Philippines

Australian Oil

06/09/2021 04:29

** Shares of oil and gas explorer Sacgasco  SGC.AX  rise as
much as 13.5% to A$0.042, marking their biggest intraday
percentage gain since July 23 
    ** Says it executed an offtake agreement for potential
Philippines crude oil production with a unit of Thailand-based
refiner Bangchak Corp  BCP.BK  
    ** Co also says it acquired a further 30.1% interest in
Service Contract 54A mining block in Philippines owned by
Yilgarn Petroleum Philippines, therefore taking its total
ownership to 72.5% in the above-mentioned block  urn:newsml:reuters.com:*:nASX2lF68Q
    ** Stock hits highest since Aug 17 
    ** Stock down ~41.3% this year, as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))