silverwood, page-2

Past Due Now - almost anyway.

"15 June 2010
Market Release (via electronic lodgement)
SILVERWOOD PROSPECTDRILLING TO COMMENCE WITHIN TWO WEEKS
The Board of Golden Gate Petroleum Ltd (ASX: GGP) advises that the Richardson #1 well at the Silverwood
oil and gas prospect is expected to commence drilling operations within two weeks. Site preparations are
being finalized and the rig contractor expects the rig to be released from its current nearby assignment and
start the move to the Richardson #1 well drillsite within the next week. The rig will then be readied to
commence drilling operations."

Strong possibility we will get an announcement tomorrow or Tuesday I would say at the latest (Mon US Hol)

1. The primary targets are the Vicksburg Sand Formation, which is a shallow oil target (9,300 ft), and the deeper Cockfield Formation (11,600 ft).

2. Extreme pressures expected and surface casing to be run prior to hitting 9000ft.

3. I am estimating average drilling of 1500ft per day, making it around 6 days drill till casing started.

So, IMO, we should be seeing some information on the drill before the middle of July. I am expecting hydrocarbon shows possibly even early into the drill.

Anytime now we could see some speculative buying - Napoleonville, Silverwood and FP testing (no choke) should begin this coming week.