Golden Gate Petroleum Ltd (ASX:GGP) is pleased to announce that drilling operations have commenced at the Hensarling # 1 well. The Hensarling # 1 well is part of the 14-52 prospect (referred to as the Desiree prospect) which is part of the Napoleonville salt dome. The well is currently at 850 feet and drilling ahead.
14-52 Prospect, Hensarling # 1 well, Assumption Parish, Louisiana, Non-Operator, 3.99% WI
The Desiree prospect covers an area of 140 acres in Assumption Parish, Louisiana and is being operated by a large US oil and gas company. The operator is the same partner that is managing the Napoleonville salt dome project.
This well will be drilled to a total depth of 12,550ft. Totalling drilling costs are US$ 3.6 million. GGP’s share of drilling costs were funded in August. The Primary objectives are the Cris R II and III intervals which, based on Grand Gulf Energy’s estimates, have the potential for 600,000 - 800,000 bbls of oil and secondary objectives in the Cris R IV and V intervals with 200,000 bbls oil and 15-30 BCF gas.
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