Perth, Australia (ABN Newswire) - Grand Gulf Energy Limited (ASX:GGE) is pleased to provide Boleslaw 1 Well Final Drilling Report.

Highlights

- The Well spudded on 10 December 2016 and reached a total depth ('TD') of 1550 metres on 10th January 2017.

- The well intersected the designated objectives, however no commercial recoverable hydrocarbons were indicated.

- The well will be plugged and abandoned shortly following petrophysical analysis.

- Partners in the Kolo licence will conduct a detailed post-drill technical review of all relevant well and seismic data to determine the way forward with this large exploration licence.

- The Kolo block has additional independent prospectivity including an oil target that has been identified based on the re-interpretation of seismic data using sequence stratigraphy techniques.

- The oil target is a turbidite system fan, typical of a possible low-stand systems tract.

- Boleslaw #1 was drilled safely, on schedule, and on budget.

- GGE has a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres.

- Other Partners include Prospex Oil & Gas Plc (LON:PXOG)



About Grand Gulf Energy Limited:

Grand Gulf Energy Ltd (ASX:GGE) is an ASX listed US based oil and gas exploration and production company with management in Houston and assets in Louisiana and Alabama.



Source:

Grand Gulf Energy Limited



Contact:

Grand Gulf Energy Limited
T: +618-9389-2000
F: +618-9389-2099
E: info@grandgulf.net
WWW: www.grandgulfenergy.com