Sacgasco Limited (ASX:SGC) entered into an agreement to acquire unknown minority stake in Sacramento Basin assets from Raven Energy Limited (ASX:REL) on December 31, 2018. The purchase includes working interests in Alvares, Dempsey and Dempsey Trend projects. As consideration for the working interests, Sacgasco Limited will issue to Raven Energy Limited 2 million Sacgasco Limited shares which will be voluntarily escrowed for 12 months from their date of issue.

As a result of acquisition, Sacgasco Limited's stake in Alvares Project will increase from 39% to 50%, stake in Dempsey Project would increase from 50% to 60%, while stake in Dempsey Trend projects would increase from 36% to 46%. Raven Energy Limited will no longer hold any stake in Alvares, Dempsey and Dempsey Trend projects. As of January 21, 2020, Sacgasco Limited increased its stake in Dempsey to 60% and Alvares to 50%.