Highlights  The Well spudded on 10 December 2016 and reached a...

Highlights  The Well spudded on 10 December 2016 and reached a total depth (‘TD’) of 1550 metres on 10th January 2017.  The well intersected the designated objectives, however no commercial recoverable hydrocarbons were indicated.  The well will be plugged and abandoned shortly following petrophysical analysis.  Partners in the Kolo licence will conduct a detailed post-drill technical review of all relevant well and seismic data to determine the way forward with this large exploration licence.  The Kolo block has additional independent prospectivity including an oil target that has been identified based on the re-interpretation of seismic data using sequence stratigraphy techniques.  The oil target is a turbidite system fan, typical of a possible low-stand systems tract.  Boleslaw #1 was drilled safely, on schedule, and on budget.  GGE has a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres.  Other Partners include Prospex Oil & Gas Plc (PXOG.L:AIM)