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
NAPOLEONVILLE FARMOUT COMPLETED
13 Jan,2012 01:51 PM

The Board is pleased to advise that it has completed a partial farmout of parts of its interests at the Napoleonville Salt Dome to a private US onshore oil and gas company.

The terms of the farmout are summarized below:

- Reprocessing and re-interpretation of the seismic (at no cost to GGP).

- Partner will have 6 months from receipt of seismic data and tapes to propose a deep well targeting the highly prospective Marg Vag/Cib Haz structures and will then have a further 3 months to propose a second Marg Vag/Cib Haz well with both wells drilled by 31 March 2013.

- GGP will retain a carried interest of between 4.707% & 3.75% working interest in the eventual wells that will be drilled under this agreement.


For further information please download PDF below: