Sage-1 was drilled during March 1999 and intersected three separate oil zones, namely the Saffron Sandstone (25 metre oil column), P'burgeri Sandstone (5 metre oil column) and Angel Formation (6.5 metre oil column).

Studies continue over the Sage Oilfield. The Sage structural trap was tested by Sage 1 in 1999 and flowed 2,155 barrels of 48 degree API oil per day. The Operator continues to monitor technological advances that may lead to smaller discoveries like Sage being developed. The improved oil price outlook has also lowered the bar for minimum economic pool sizes. Looking forward facilities at Legendre may become available to exploit Sage by 2010 as that field reaches full depletion.

During the December 2008 quarter FAR continued with Victoria Petroleum (VPE) and Sun Resources (SUR) an equity divestment program designed to market a significant interest (29.8 percent) in the Sage Oilfield.