Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Golden Gate Petroleum To Receive Additional Cash Flow From Louisiana Oil Well 0 comments
    Jul 4, 2013 3:00 AM

    Golden Gate Petroleum (ASX: GGP) has been advised that the Hensarling-1 well in the Napoleonville Project, Louisiana, has started producing oil with at rates expected to reach up to 370 barrels per day.

    This is expected to general net revenue of $27,000 per month for the company based on its 3.9% working interest.

    Hensarling-1 had flowed 240 barrels of oil during the first 17 hours with the operator advising that this rate could be sustained.

    This equates to production of between 330 and 370 barrels per day of oil from the Cris R III sands.

    Post drill, gross reserves in the Cris R II and III sands are estimated to be 952,000 barrels of oil and 0.4 billion cubic feet of gas.

    The well will produce the thicker Cris R III resources following which the overlying Cris R II will be completed for production.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.