oil and gas shows klondike, page-2

10 December 2012 ASX Release ASX Codes: GGE and TMK
West Klondike Drilling Report 4 Oil & Gas Shows
• The West Klondike well, Wilberts Sons LLC #1, is presently drilling ahead at 10,638ft.
• The Lario and U Nod Blan sands were intersected over the weekend and the mud logs indicate oil shows over 35ft and gas shows over 15ft of gross interval respectively. Electric logs are required to determine the commerciality of the shows and will be run once the well reaches TD.
• Further potential yet to be penetrated in the deeper Nod Blan objectives.
• Well is being drilled under a turnkey drilling contract with Precision Drilling Company.
• The well is normal pressured and is expected to take 7 days to reach TD of 10,900ft.
The West Klondike well, Wilberts Sons LLC #1, is presently drilling ahead at 10,638ft. The Lario and U Nod Blan sands were intersected over the weekend and the mud logs indicate oil shows over 35ft and 15ft respectively of gross interval. Electric logs are required to determine the commerciality of the shows and will be recorded once the wellreachesTD.
Further potential is yet to be penetrated in the deeper nodBlan objectives.
Grand Gulf has a 10.5% working interest and Tamaska has a 10.2% working interest in the West Klondike Prospect which covers an area of 640 acres in Iberville Parish, Louisiana. This prospect will be drilled to a total depth of 10,900ft TVD.