Golden Gate is a focused petroleum exploration and production company with an exploration portfolio in the Gulf of Mexico and the Permian Basin containing world-class prospects.

Corporate Profile
*Built a substantial Operating capability on the Texas/Louisianna Gulf Coast.
*Production is presently coming from both Padre Island, Texas and the Bullseye Project in Lousianna.  Fausse Point is presently been completed.
*Drilled and placed on production Jumonville #1 in Sept 08. GGP has a 42.25% working interest.
*Drilled and placed on production Jumonville #2 on 30 June 2009. GGP has a 42.25% working interest.

Golden Gate Petroleum (ASX:GGP)

Company Directors

Mr Chris Ritchie (CFO, Investor Relations)
Mr Frank Brophy (Non Exec. Director)
Mr Frank Petruzzelli (Non Exec. Director)
Mr Stephen Graves (Executive Chairman, Managing Director)

Contact Information

Phone: +61 3 9349 1488
Email: info@ggpl.com.au
Website: http://www.ggpl.com.au
Address
566 Elizabeth Street, MELBOURNE, VIC, Australia, 3000

Media Releases see all media releases

Golden Gate Petroleum Ltd, Private Placement AUD 2.9 Million
19 Jun,2012 09:52 AM

The Board of Golden Gate Petroleum Limited (ASX:GGP) is pleased to announce that it has entered into an agreement with Novus Capital Limited “Novus” to raise an additional AUD 2.9 million through a private placement with professional, sophisticated and other investors.

A total of 223 million shares will be issued at $0.013 (1.3 cents) with a free attaching listed option with an exercise price of $0.05 (5 cents) and an expiry date of 31 December 2014.

The issue of the listed options and ordinary shares to the approximate value of AUD 0.5 million will be the subject of shareholder approval at a soon to be called general meeting of the company.

In addition a further AUD 220,000 of series 2 convertible notes have been issued.

The Company currently has 4 producing wells in full operation. 4 additional wells which have already been drilled are in various stages of completion. The added four wells are expected to more than double production from current reported levels over the next few months.


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