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:
Website:

Address
566 Elizabeth Street, MELBOURNE, VIC, Australia, 3000
Media Releases
Golden Gate Petroleum Ltd, Quarterly Activities Report: 1 October to 31 December 2011
31 Jan,2012 10:45 AM

Highlights

Permian Basin
- SRH – 1 well successfully completed and fracture stimulated. 24 hour flow test produced 379 bbls of oil and 328 mcf of gas. 1,293 bbls of oil produced before being temporarily shut in install a gas pipeline, undertake additional perforations and install permanent down hole pumping unit designed for handling the gas production.

- SRH – 2 well successfully completed and fracture stimulated. Initial flow testing registered 109 bbls of oil over a 24 hour period whilst still offloading frac fluid. Pipeline and new down hole pumping unit are being installed.

- SRH – 3 well successfully completed and being prepared for fracture stimulating to commence the week of 30 January 2012.

- SRH – 4 well successfully completed and being prepared for fracture stimulating to test the Strawn Formation, a new interval not tested in the other wells. Testing the Strawn to commence following on from the SRH – 3 well.

- SRH – 5 well is the Company’s first horizontal well and planning is currently being completed with an expected spud date of the end of February 2012.

Napoleonville
- Dugas & Leblanc #3 produced 17,547 bbls of oil and 106,277 MCF of gas for the quarter.

- Partial farmout of working interest in Napoleonville prospect (excluding Dugas & Leblanc) completed on 13 January 2012.

Corporate
- AU$ 3.1 m equity raised during the quarter and post 31 December a further AU$ 1.47 equity and AU$ 2.1m convertible debt raised. An AU$ 4.5 m 1:7 fully underwritten entitlement issue
is expected to close in February 2012.

- Market Capitalization increased from AU$ 15.3m to AU$35.8m as at 31 December 2011

- Cash balance as at 31December 2011 was AU$ 2.8 million.


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