Golden Gate Petroleum Limited (ASX:GGP) (“Golden Gate” or the “Company”) provides the following production and drilling update from the Company’s Projects for the two-week period, 16th to 31st October, 2012. A similar report will be provided every two weeks.
Drilling and Completion Update
(1) Permian Project, Texas (GGP: Operator and 100% WI)
- SRH #1 Well: Shut in. Prepared for fracture stimulation in November 2012.
- SRH #2 Well: Preparing for fracture stimulation in November 2012.
- SRH #3 Well: Repaired production tubing October 2012; Recommenced production 18 October 2012.
- SRH #4 Well: Repaired production tubing October 2012; Recommenced production 23 October 2012.
- SRH #5 Horizontal Well: Planned to spud early November 2012.
(2) Cutlass Project, Texas (Eagle Ford Shale Development, Dimmit & LaSalle Counties)
- Cutlass West #A1 Well (GGP: 10% WI; Non-Operator): Plans for fracture stimulation in November 2012. A gas pipeline is in planning stages.
- Cutlass East #A 1 Well (GGP: 10% WI: Non-Operator): Well has been completed and being evaluated for testing intervals below Eagle Ford Shale where oil and gas shows have been recorded.
(3) Bowtie West Project, Project (Matagorda County)
- Sugar Valley #1 Well (GGP: 12% WI; Non-Operator): Awaiting on tie in.
(4) Napoleonville Project, Louisiana (Assumption Parish)
- Napoleonville Hensarling #1 Well (GGP: 3.99% WI; Non-Operator): Spudded on 29 October 2012 and drilling ahead at 3,044 feet.
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