Ann: Abita Producing at 1,000 MCFD, page-2

ABITA PRODUCING AT 1,000 MCFD
Grand Gulf Energy Limited (ASX:GGE) (“Grand Gulf”) is pleased to advise that
the Abita has been completed in the 17 Sand. The well is presently cleaning
up and producing 1,000 mcfd and 5 bopd from 7/64 inch choke. The 17 sand
is estimated to contain 485,415 mcf and 10,000 bbls oil.
The Company has a 20% WI in the Abita Project.
The Company will report again on this operation once stabilised rates have
been achieved.
Following depletion of the 17 Sand the Company has one additional sand to
produce from, being the 15 Sand. The 15 Sand is estimated to contain 1.5 BCF
and 30,500 barrels of condensate. The recompletion that was undertaken on
the 17 Sand was structured to enable an easier and cheaper recompletion on
the 15 Sand.