Boleslaw 1 Well Drilling Update 1
Perth, Jan 4, 2017 AEST (ABN Newswire) - Grand Gulf Energy Limited (
ASX:GGE) is pleased to release the Boleslaw 1 well drilling update 1.
- The Boleslaw #1 Well spud on 11 December 2016 and is presently completing a casing run at 952m.
- The First target, the Santonian sandstone, is anticipated to be intersected between 1,050m and 1,100m.
- The Second target, the Deep Cretaceous sandstone, is anticipated to be intersected at 1,400m.
- Planned TD of 1,500m and expected to cost A$2.8 million
- The well is presently running on budget.
- GGE also has a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres.
For more detailed information on the Boleslaw Project please refer to our release made on 13 December 2016.
About Grand Gulf Energy Limited
Grand Gulf Energy Ltd (ASX:GGE) is targeting conventional oil and gas opportunities in the United States. The company listed on the Australian Stock Exchange in February 2006 as Alto Energy International Limited and changed its name to Grand Gulf Energy Limited in June 2007. The name Grand Gulf Energy is derived from the company's operating subsidiary in USA. Grand Gulf Energy has a strong board of directors and management team based in both Perth, Western Australia and Houston, Texas, USA. Grand Gulf Energy is focused on low-risk, conventional oil and gas plays in Louisiana, close to existing infrastructure and close to or within existing oil and gas production. Grand Gulf Energy's strategy is to apply the expertise and new technology (such as 3D seismic) required to deliver a low risk exploration and development portfolio with potentially high rewards. The company is also focused on forming relationships with organizations that can deliver further acquisition and development opportunities.
The company's portfolio of active projects includes the Napoleonville Salt Dome project in Louisiana.
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