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Grand Gulf Energy updates on Boleslaw as eyes focus on Alabama

Grand Gulf Energy (ASX:GGE) has updated on the Boleslaw gas prospect in central Poland.
Grand Gulf Energy updates on Boleslaw as eyes focus on Alabama
In Alabama, GGE has confirmed the presence of untapped oil.

The Well spudded on 10 December 2016 and reached a total depth of 1550 metres on 10th January 2017, and intersected the designated objectives, however no commercial recoverable hydrocarbons were indicated.

The well will be plugged and abandoned shortly following petrophysical analysis, and now the 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.

GGE has a 20.4% interest in the Kolo Licence which covers 1,150 square kilometres, and partners include Prospex Oil & Gas Plc (LON:PXOG).


Alabama

Moving to the U.S. state of Alabama, GGE has confirmed the presence of untapped oil in the Smak Dixon 31-11 well in the Pleasant Home Field.

The 14 feet interval is 9,849 feet deep and has the potential to recover up to 100,000 barrels of net oil at flow rates of up to 100 barrels of oil per day.

The tool used to log this data also confirmed multiple, thinner, potential zones of interest above the interval that will be evaluated in due course.

The well is presently undergoing cement squeeze operations to isolate the pay zone interval prior to perforating and testing next week.

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