permian basin update out, page-13

I am finding it hard to believe that with so many financial and business experts in the company

Stephen Graves
Mr. Stephen D. Graves serves as Executive Chairman of the Board, Chief Executive Officer and Managing Director of Golden Gate Petroleum Ltd since January 17, 2011. Mr. Graves has over 30 years in the oil and gas industry both in Australia and overseas. Most recently, he was Executive Chairman of Orchard Petroleum Ltd. He worked for Mobil Corporationrationration and affiliated companies for twenty three years. He has also been an independent consultant to the energy industry, a senior consultant to Ernst & Young and has experience with funding infrastructure projects.
Frank Petruzzelli

Mr Petruzzelli is a principal of MDB& Co, an Australian accounting firm and has been a director since May 2001. He is an accounting and management services specialist and advises many ASX listed companies and large private organisations.
(check out his website)

Chris Richie (CFO and company secretary) BBuss, Grad Dip Bus.,FCPA, FCIS

Plus all the testing and data they have reported to have or in the process of gathering from the area for the whole of the year that this is the only form of capital raising they can come up with.



Max