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21 January 2010
Quarterly Activity Report for the Quarter Ended 31 December 2009
Grand Gulf Energy Limited (ASX: GGE) (Grand Gulf) is pleased to provide its Quarterly Activity Report for the Quarter ending 31 December 2009. Highlights for the quarter and subsequently:
Operations:
? In January Grand Gulf announced that it had negotiated with Waterloo to earn half of its interest in the Napoleonville project via a carry of well costs and will become the operator subject to financing being completed as per Corporate below.
? In January Grand Gulf sold its interest in the 12 wells in Custer Co, Oklahoma effective November 1, 2009 to further reduce its debt.
Corporate:
? At the Annual Meeting shareholders resolved that Directors would take shares in lieu of cash for their fees and salaries for the 12 months of 2009 at a share price of $0.01 per share
? The company has negotiated an additional debt facility of $1.5 million with Macquarie for 2010 Napoleonville drilling.
? The company has announced an intention to raise equity by way of a one for one non-renounceable entitlements issue and placements totalling 245 million shares all at the price of $0.005 to raise approximately $2.9 million in the first quarter of 2010.
For the full report please visit the Grand Gulf Energy website at the following link:
http://www.grandgulfenergy.com/documents/719.pdf
For further information contact:
Mr James Trimble
Tel. +1 (713) 829-7930
Email: jtrimble@grandgulf.net or
Mr Charles Morgan
Tel: +61 412 152534
Email: cmorgan@seaspin..com.au
For more information visit www.grandgulfenergy.com
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Grand Gulf Energy
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CODE : GGE.AX |
ISIN : AU000000AOI7 |
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Grand Gulf est une société d’exploration minière et de pétrole basée en Australie. Son principal projet en exploration est OKLAHOMA en USA. Grand Gulf est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,0 millions AU$ (2,0 millions US$, 1,8 millions €). La valeur de son action a atteint son plus haut niveau récent le 23 septembre 2005 à 1,36 AU$, et son plus bas niveau récent le 29 novembre 2019 à 0,00 AU$. Grand Gulf possède 748 000 000 actions en circulation. |