looking good, page-37

Partners in the Fausse Point Project are:-

VIL: 50%
Pass Petroleum LLC: 30%
GGP: 20%
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Source: www.petroleumnews.net

Golden Gate encouraged in Louisiana, Range close to turning on Smith-1 taps
Tuesday, 9 February 2010

GOLDEN Gate Petroleum has had early promising results from the first test on the TGR Land Co Inc-1 well while Range Resources' Smith-1 well moves closer to production.

In Louisiana, at the Fausse point project, Golden Gate said initial testing of the hydrocarbon discovery in the first zone of interest in the TGR Land Co Inc-1 well was encouraging.

Perforation of the first zone resulted in an immediate pressure build at the surface. The pressure then increased with the well producing gas and a high percentage of light crude oil or condensate.

"The initial testing of the hydrocarbon discovery in the first zone of interest is very encouraging at this stage and provides increasing confidence about the numerous other zones that have also encountered hydrocarbons," the company said.

"Extend production testing operations will be conducted throughout this coming week. If the first zone just tested confirms a commercial result, testing will cease and preparations will begin to bring the well onto production."

Golden Gate Petroleum has a 20% interest in the Fausse point well.

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Over in Texas, Range Resources said oil storage tanks and dehydration/separation equipment have been installed at the North Chapman Ranch project despite continual heavy rains along the Texas coast.

The operator has started installing the flow line that will connect the Smith-1 well to the commercial sales line.

The final stage will be the connection to the commercial sales line.

Smith-1 flowed at an average rate of 2.4 million cubic feet of gas and 191 barrels of oil during testing of one of the three pay zones intersected.

Range has a 25% interest in the North Chapman Ranch project.


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