bullseye

The Company advises that activity on Jumonville #1 well has resumed drilling operations to test the Bullseye
prospect. The Key #88 rig has been moved in over the last several days. Prior to suspending operations a 5
½” drilling liner was set to 12,050ft TVD.
Since re-entering the well bore, the cement plugs have been drilled out. A successful formation integrity test
in excess of required mud weight expected in the reservoir sections of our objectives has been established.
Currently, the well is drilling ahead.
The projected total depth of the well is estimated at 12,550ft TVD which will test a secondary objective in the
Camerina (~12,100ft TVD) and the primary objective in the Miogyp (~12,350ft TVD). The 500ft of final
borehole is expected to be completed in 2-3 days, at which point open hole logs will be run. As part of the
formation evaluation it is expected that a 3 ½” liner will be run to TD in order to obtain fluid samples from
each objective for confirmation of electric log interpretations.
Partners in the Jumonville #1 well* are:
Golden Gate Petroleum Ltd (ASX code: GGP) 43.33% WI
Modena Resources Limited (ASX code: MDA) 15.00% WI
Pantheon Resources PLC 15.00% WI
Eastern Advisors 20.00% WI
Nuenco NL (ASX code: NEO) 6.67% WI
* Working Interests are reflected prior to back-in rights of project vendor.
On behalf of the Board of Directors
For further information contact:
Steve Graves
Managing Director
Phone +1 805 469 4656
Jeff Copley
VP Operations
Phone +1 713 334 0986
Golden