Ann: Boleslaw 1 well drilling update 1, page-2

Boleslaw #1 Well Drilling Update 1 • The Boleslaw #1 Well spud on 11 December 2016 and is presently completing a casing run at 952m. • the First target, the Santonian sandstone, is anticipated to be intersected between 1,050m and 1,100m. • The Second target, the Deep Cretaceous sandstone, is anticipated to be intersected at 1,400m. • Planned TD of 1,500m and expected to cost A$2.8 million • The well is presently running on budget. • GGE also has a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres. For more detailed information on the Boleslaw Project please refer to our release made on 13 December 2016.