This is the genius within the ASX, they are the body who decides which news item submitted is to be marked as market sensitive.
In fact both news items are identical on the 1st page, but GGE had extra information on their 2nd page compared to GGP
So, the only difference being the following which was added onto page 2 of GGE's news:
Background to the Napoleonville Salt Dome
The Napoleonville Salt Dome has the potential to contain 500 billion cubic feet (BCF) of gas and 3.8 million barrels of oil (MMBO) from over 60 prospects and leads which have been identified so far from Grand Gulfs proprietary 50 square mile 3D seismic survey. The agreement with Grand Gulf includes access to the entire Napoleonville potential.
The Napoleonville Salt Dome has historically produced 188 billion cubic feet of gas and 20.2 million barrels of oil. Multiple high quality targets have been identified from the recent 50 sq. mile 3D seismic survey and as the technical work continues, it is likely to generate significantly more prospect and PUD opportunities. The primary targeted sands are Tex W, Big Hum, Operc, Cris R II VII, Marg Vag, Camerina and Miogyp with sands commencing at 4,000ft to 14,000ft.
As of October 2010, approximately 5,700 acres of leases had been exercised from Grand Gulf and partners 35,300 optioned acres pertaining to the seismic shoot. Relationships with the various landowners previously under option have been maintained in preparation to lease newly developed prospects as they advance.
About Grand Gulf Energy: Grand Gulf is an ASX listed US based oil and gas exploration and production company with management in Houston and assets in Louisiana and Texas.
GGE Price at posting:
0.7¢ Sentiment: None Disclosure: Held
