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MENAFN - ProactiveInvestors - Australia - 02/12/2012

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(MENAFN - ProactiveInvestors - Australia) Grand Gulf Energy (ASX: GGE) is moving to complete the Abita well in Plaquemines Parish, Louisiana, for completion and has identified field extension potential to the northeast.

Operator Clayton Williams will complete the well in the 19 Sand, which has up to 400,000 barrels of recoverable oil and is the most valuable reservoir in the well.

Flow rates from the 19 Sand in the across syncline Coquille Bay field range from 250 to 400 barrels of oil and 500,000 and 800,000 cubic feet of gas per day.

Abita provides upside in the lower 32 Sand, which is yet to be tested with a predrill estimate of 400,000barrels of oil. This sand is a significant producer in the adjacent field.

The joint venture has also determined the field extension potential for another oil and gas accumulation on the same geologic feature in the fault compartment immediately to the northeast.

Objective sands are those found productive in the discovery well and deeper sands produced in Coquille Bay Field to the south. The prospective fault block has similar potential found in the discovery well.

Grand Gulf Energy has a 20% working interest in the project.

 






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