15 June 2009
TESTING CONTINUES AT BULLSEYE PROSPECT
PROSPECT: OPERATIONAL UPDATE
Jumonville #2 Bullseye Prospect, Iberville Parish, Louisiana, Operator 33.25% WI
The Company advises that since perforating the lower Cib Haz interval, communications with the interval has been limited with only small amounts of production fluid flow back. Recently run logs have confirmed that a full charge perforation array was discharged correctly over the lower Cib Haz interval. The current plan is to start testing the upper Cib Haz interval while evaluating the lower interval for a possible revised testing or stimulation program. A workover rig will arrive on site at the beginning of this week and it is expected that the Upper Cib Haz interval will be perforated before the weekend.
The upper Cib Haz zone is approximately 130 gross feet thick. Log analysis by Schlumberger and sidewall core data indicate this zone may be oil and gas-bearing.
Depending on the test results from the upper Cib Haz interval, the Jumonville # 2 well will either be put on immediate production from the upper Cib Haz interval or testing will then move to the main target of the well which is the Miogyp sandstone. The Miogyp sandstone appears to be oil-bearing, judging from the mudlog shows, logs and sidewall-core information. The Miogyp is interpreted to be about 20 feet thick in the Jumonville #2 well and is the currently producing formation at Jumonville #1. Surface facilities have been finalized and connected to the already established sales line that currently handles the Jumonville #1 oil and gas production.
On behalf of the Board of Directors
For further information on the Company, please visit our website:
http://www.ggpl.com.au
For information contact:
Steve Graves
Managing Director
Phone +1 805 469 4656
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.