BIG NEWS! It explains the reluctance of officials to give any information!
Originally posted on The Louisiana Sinkhole Bugle:
Grand Gulf Energy targeting 1 million barrels of oil with new Louisiana well
Sept. 17-(MENAFN – ProactiveInvestors – Australia) Grand Gulf Energy (ASX: GGE) and its partners are preparing to spud the Desiree prospect in Louisiana targeting 1 million barrels of oil in early October.
The Desiree well is updip from and just 270 feet away from the largest producer in the Napoleonville project, which produced 2.3 million barrels and was still producing 100 barrels per day when it was abandoned at low oil prices with split casing.
If successful, Desiree offers long life reserves with initial production rates estimated at between 400 barrels and 800 barrels per day.
Desiree will be drilled to a total depth of 12,550 feet and targets the Cris R II and III intervals as the primary target with potential to hold up to 800,000 barrels of oil. Secondary objectives are the Cris…
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