HIGHLIGHTS
? GGE has completed a farmout of 15% of Desiree as a result of increased well costs
? Farmout will see GGE with a 41% interest and carried for 5% of drilling costs
? New experienced onshore US partner to operate well
? Desiree prospect upgraded to 1 million barrels oil and 15-30 BCF gas
? Well is targeting 4 potential pay sands, 2 sands (Cris R II & III) are updip of a water drive well
that produced 2.3 MMBLS oil and ceased production producing 100 bopd
? 2 additional potential pay sands, Cris R IV & V, are deeper pool secondary tests
? Well is due to spud July 2012
? Project generated from proprietary 3D seismic
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HIGHLIGHTS? GGE has completed a farmout of 15% of Desiree as a...
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