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 July, 2013.
The SRH #5 well is now going through testing of a gas lift system that replaced the down hole submersible pump which was not efficient due to the amount of gas being produced at the early stages of the well’s production. Overall the #5H well performance during testing under the gas lift system has been below expectations.
Production test rates have been less than 100 barrels of oil equivalent on a per day basis. We are examining several causes for the low production levels which may be due to a partial blockage in the well bore due to possible flow back of the frac proppant or formation material, a chemical reaction between frac fluid and formation impeding flow rates or the actual rock properties of the A bench in the Wolfcamp. It is too early to draw any overall conclusions regarding the #5H. We will continue to work towards improving performance.
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