malolos-1 & jacob-1 drilling

Some very interesting information came to me today. I'm led to believe that unexpectedly the Malolos drill is approximately 50 feet away from its first target (Oil & gas @ 1300m). If true this has quietly slipped under the radar. This is the well that GGX has, in the past, obtained the 20 barrels of oil from. Here's the work that has occurred at Malolos-1 in the past:

Phase 1 Workover Program
• Natural gas confirmed along with quality reservoir, undamaged
• Multiple gas bearing intervals identified and gas and oil samples taken for analysis
• Four separate sandstones (each 3 - 5 metres thick) over the gross interval 367.3 - 478.5 metres
• Additional 3 metre thick gas bearing sandstone over the interval 774.2 - 777.3 metres
• Gross 23 metre thick gas column (816.9 - 839.7 metres)
overlying water

Phase 2 Flow Test July-August 2012:
• Well cleaned out to 2,173 metres - obstruction
• Main oil reservoir target cannot be accessed
• Cased hole logging electric wireline completed
• Flow test gas reservoirs identified by electric logs
• Clear junk and flow test oil reservoir in mid-2012
• Convert gas into electricity for local sale
• Oil sales within 6 months of establishing production

So where they're up to is cleaning out the remaining obstruction in the well to flow test the oil flow & to reaffirm the gas flow tests from various levels.

This well will then continue down to an eventual target around 7,000 feet so this could take some time. But hopefully they'll hopefully strike at 7 different gas & oil intersections along the way to the main oil target @ 7,000 feet (see here on page 8 for a view of the Malolos well targets - http://www.gas2grid.com/IRM/Company/ShowPage.aspx/PDFs/1461-84938611/PresentationJune2012)

Meanwhile, as per the company announcement this week, Jacob-1 continues slowly but I also here that things are now going better & they expect to easily achieve the target of 340m this week.

It could be a big week of announcements if they both come in on plan! Let's hope so. Hang on to your hats gentlemen we may be about to go airborne!