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 30th November, 2012. A similar report will be provided every two weeks.
(1) Permian Project, Texas (GGP: Operator and 100% WI)
- SRH #1 Well: Shut in. Preparing for fracture stimulation in December 2012.
- SRH #2 Well: Shut in. Preparing for fracture stimulation in December 2012.
- SRH #3 Well: On production.
- SRH #4 Well: On production.
- SRH #5 Horizontal Well: Currently drilling ahead.
(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 Early 2013. 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 initial production results.
(4) Napoleonville Project, Louisiana (Assumption Parish):
- Hensarling #1 well (GGP: 3.99% WI; Non-Operator) recently completed electric logging operations confirming net pay of 49 feet in the Cris R III sands in addition to the 31 feet of pay in the Cris R II sands. The well is presently running intermediate casing string in preparation for drilling ahead to the next reservoir targets, Cris R IV & V.
