Ann: Correction December Quarterly - Cashflow Re, page-6

re: Ann: Correction December Quarterly - Cas... Lol, I've put it away now. Back on track I think.Well done to thks to MF and the team.

Highlights for me from the qtrly:
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Desiree Field contributes cash flow to the Company of US$250,000-$285,000 per month (US$3-$3.4 million per year).

The Company, with its partners, is assessing the potential for further development well.

D&L#3 was recently placed on jet pump and is producing ...Monthly revenue net to the Company at these rates will increased to ~US$240,000 after royalties and operating costs.

Abita - revenue net to the Company is ~US$25,000 after royalties and operating costs.

Louise:
* A unit owner not presently within the joint operating agreement is required to final their participation position this coming week which will clear the way for well preparations to commence.
* The Operator is presently finalising drilling permits and the well is due to be spud in the current quarter.

The Company is excited
to recommence working directly with the seismic and other data in generating drilling locations and furthering the impressive work completed to date.

Grand Gulf views Napoleonville as a significant and tangible asset that has a substantial number of untapped oil and gas prospects not unlike the Desiree and Dugas and Leblanc Discoveries.

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I would expect once some issues noted above are resolved the news will flow more freely. Until then we can only speculate but the fundamentals remain sound in my opinion.

Comments are my opinion only and my interpretation may be incorrect so please check and DYOR before forming your own opinion.

GLTA