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, 1st to 15th April, 2013. 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: Restarted pump on well, and currently pumping existing water out of hole which will take several days and will then restart hydrocarbon production. Capillary to be installed once new equipment arrives.
- SRH #2 Well: Rig on site to install capillary tube so as to start production from combined Cline and Wolfcamp intervals already fracture stimulated.
- SRH #3 Well: On production.
- SRH #4 Well: Workover rig released, hole in tubing repaired 18 April. Will restart production within the week.
- SRH #5 Horizontal Well: A hydraulic fracture stimulation in the “A” bench of the Wolfcamp interval has been successfully completed. The well is currently unloading the fracture fluid which will take several weeks to complete at which point the well will begin hydrocarbon production.
(2) Bowtie West Project, Project (Matagorda County)
- Sugar Valley #1 Well (GGP: 12% WI; Non-Operator): On production.
(3) Napoleonville Project, Louisiana (Assumption Parish)
- Napoleonville Hensarling #1 Well (GGP: 3.99% WI; Non-Operator): Electric logging operations have confirmed net pay of 31 feet of pay in theCris R II sands and 49 feet in the Cris R III sands. Waiting on unit rule clarifications prior to testing.
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