great news for ggp shareholders

Recent studies on the SRH-A #8A well of Reagan County employed by GGP continue to display substantial and pleasing results in terms of the recoverable reserves of oil present within the tapped reservoir. The mud logs of this hole have previously recorded several oil and gas shows within both primary and secondary host rocks of interest. The oil located within this well is characterised by a dull light yellow fluorescence indicating predominately paraffinic petroleum which is useful for the production of many products including petrol, plastics, synthetic fibres, composites and pharmaceuticals. Additionally maximum gas recordings in the SRH-A #8A well have reached over 2700 units which is ten times the level seen in the previous SRH-C #6H well. The gas is highly favourable and suggestive of profitable oil accumulations with heavier gases present such as ethane, propane and butane in significant concentrations from 5520 ft down to 9400 ft of well depth.

The second petroleum deposit found within the SRH-A #8A well is also proving to be a valuable find with estimates from log interpretations revealing a potential 202,000 barrels of recoverable oil present in sands and shales equating to a USD$16,160,000 resource (assuming USD$80 per barrel) which is sure to assist in the production of petroleum in further wells and the growth of GGP.