Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Grand Gulf Energy intersects more oil in Louisiana  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 22/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Grand Gulf Energy (ASX: GGE) has intersected more oil shows at its Hensarling-1 well in Louisiana, raising the likelihood that it will provide long life reserves.

Mud logs indicated the well had intersected between 40 and 50 feet of oil shows at the Cris R III Sand, the second primary objective. The Cris R II sand was earlier interpreted to have oil shows across a 60 to 70 feet gross interval.

Wireline logs will now be run to determine the commerciality of the shows in the Cris R II and III.

Drilling will then resume towards the secondary objective Cris R IV and V sands.

Hensarling-1 is located in the 140 acre Desiree prospect in Assumption Parish. It is updip and 270 feet from the largest producer in the adjacent Napoleonville Field that was abandoned at low oil prices with split casing while still producing 100 barrels of oil per day.

Cris R II and III and estimated to up to 800,000 barrels of oil while the secondary targets could add anothern 200,000 barrels of oil and up to 30 billion cubic feet of gas.

Grand Gulf has a 35.6% working interest in the Desiree prospect with its net share of dry hole costs estimated at about US1.1 million. Fellow Australian Golden Gate Petroleum (ASX: GGP) has a 3.99% working interest.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help