Boleslaw 1 Well Final Drilling Report
Perth, Jan 11, 2017 AEST (ABN Newswire) - Grand Gulf Energy Limited (
ASX:GGE) is pleased to provide Boleslaw 1 Well Final Drilling Report.
Highlights
- The Well spudded on 10 December 2016 and reached a total depth ('TD') of 1550 metres on 10th January 2017.
- The well intersected the designated objectives, however no commercial recoverable hydrocarbons were indicated.
- The well will be plugged and abandoned shortly following petrophysical analysis.
- Partners in the Kolo licence will conduct a detailed post-drill technical review of all relevant well and seismic data to determine the way forward with this large exploration licence.
- The Kolo block has additional independent prospectivity including an oil target that has been identified based on the re-interpretation of seismic data using sequence stratigraphy techniques.
- The oil target is a turbidite system fan, typical of a possible low-stand systems tract.
- Boleslaw #1 was drilled safely, on schedule, and on budget.
- GGE has a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres.
- Other Partners include Prospex Oil & Gas Plc (LON:PXOG)
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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