OPERATIONS UPDATE ? NOVEMBER 2008
11 November 2008
HIGHLIGHTS
? Jumonville #1 production remains constrained due to gas flaring with oil flows ranging from 700 to 850 barrels of oil per day (bopd)
? Tank battery and gas flow lines underway to accommodate increased production of both oil and gas at Bullseye
? Acosta #1 (Bullseye appraisal) successfully tied back intermediate casing with drilling set to commence soon. Targets should be tested over the coming 1-2 weeks
? Initial preparation underway for the Jumonville #2 well to start drilling in mid January to appraise the Miogyp and Camerina Formations as well as test the large Cib Haz interval
? West Lake Boudreaux SL 18892 #1 drilled to intermediate casing point at 12,500 feet TVD. Prospective target formations with the potential for 120 bcf to be tested over coming weeks
To view the full announcement, as well as additional information on the Company, please click on the link below:
http://www.ggpl.com.au
On behalf of the Board of Directors
For further information contact:
Steve Graves
Managing Director
Phone +1 805 469 4656
Jeff CopleyVP Operations Phone +1 713 334 0986
Golden Gate is an independent oil and gas exploration and production company listed on the Australian Stock Exchange. Its focus of operations is onshore Texas and Louisiana Gulf Coast region of the USA.
Golden Gate Petroleum est une société de production minière d'or et de pétrole basée en Australie.
Golden Gate Petroleum détient divers projets d'exploration en USA et au Mexique.
Ses principaux projets en exploration sont BULLSEYE en USA et MANZANO au Mexique.