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Golden Gate Petroleum Ltd, Quarterly Activities Report for the Three Months Ended 30 June 2013

Highlights

Permian Project
-  SRH-1 & SRH-2 wells returned to production
-  SRH-6 well drilled
-  L-771 & L-772 leases retained incorporating the total reserve study values.

Eagle Ford Project
-  Sale of Cutlass Project completed for US$1.7m.

Napoleonville Project
-  Hensarling #1 well commenced production on 3 July 2013.

Corporate
-  Program to reduce overheads by 25% commenced in April 2013.
-  Further overhead reductions commencing in July 2013.
-  Cash balance as at 30 June 2013 was $0.67 million.


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