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.
GGE Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
