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Golden Gate Petroleum Ltd, Hensarling #1 Well Producing on Jet Pump

-  The Hensarling #1 well (Desiree Field) has been placed on Jet Pump and is presently producing at a rate of 390 bbls per day. The operator anticipates the well will sustain this rate and expects production rates between 350 to 400 bbls per day through a 25/64 inch choke.

-  Post drill, gross resources are estimated to be 952,000 bbls oil and 0.4 BCFG in the Cris R II & III. The well is producing from the thicker Cris R III following which the overlying Cris R II will be completed for production.

Partners in the Hensarling #1 well:

Grand Gulf Energy Ltd (ASX:GGE) 35.60%
Golden Gate Petroleum Ltd (ASX:GGP) 3.99%
Other Partners 60.41%

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