Golden Gate Petroleum (GGP)

Shares / Stock Code

GGP

Stock Exchange / Sharemarket

Australian Securities Exchange

Golden Gate Petroleum (GGP) is a petroleum producer and explorer. The company's exploration interests are located in the Gulf of Mexico. It's production activities are carried out jointly with its partner, BNP Petroleum. Golden Gate Petroleum listed on the ASX in May 2002.

The Company owns 33.25% working interest in the Bullseye prospect (an area of 1,700 acres) located in South Louisiana. The Bowtie project is located in Brazoria and Matagorda County, Texas as a non-operating participant. As of June 30, 2009, the Company had four projects, which included Bullseye, Padre Island, Bowtie West and White Castle. On March 17, 2009, the Company sold 8% working interest position in the Bullseye Prospect to IB Daiwa Corporation. On June 23, 2009, the Company disposed of its interests in the Bethany Project.

GGP’s key exploration project is Padre Island (PI Project), located on the Gulf of Mexico coastline. The Gulf of Mexico is a proven hydrocarbon area that produces nearly a quarter of the total gas consumed in the US. The PI project comprises multiple play types including smaller, low risk, shallow prospects as well as larger, deeper prospects.

Oil is sold to the nearest refinery at spot price.GGP competes with experienced industry players Shell, Exon/Mobil, El Paso, Woodside, Houston Oil & Gas, Santos and Spinnaker Oil.

Golden Gate Petroleum (GGP) Products and Services

  • Independent oil and gas exploration and production company

Golden Gate Petroleum (GGP) Locations and Subsidiaries

Golden Gate Petroleum Head Office
Level 21, Allendale Square, 77 St Georges Terrace,
PERTH, WA 6000
Phone: +61 893241177
Fax: +61 8 93242171

Golden Gate Petroleum (GGP) Share Price

Submitted by ASX Listed Company on 27 March, 2010 - 03:41

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