Grand Gulf Energy (GGE)

Shares / Stock Code

GGE

Stock Exchange / Sharemarket

Australian Securities Exchange

Grand Gulf Energy (GGE) is targeting conventional oil and gas opportunities in the United States. The company listed on the Australian Stock Exchange in February 2006 as Alto Energy International Limited and changed its name to Grand Gulf Energy Limited in June 2007. The name Grand Gulf Energy is derived from the company’s operating subsidiary in USA.

During the fiscal year ended June 30, 2009, the Company participated in drilling a total of eight wells, with four wells located in LeFlore County, Oklahoma, three wells in Custer County, Oklahoma and one well in Louisiana. The Company’s wholly owned subsidiaries include Golden Fleece Petroleum Inc and Alto Energy Limited. In July 2009, the Company disposed of its LeFlore County, Oklahoma leases and production interests.

Grand Gulf Energy has a strong board of directors and management team based in both Perth, Western Australia and Houston, Texas, USA. Grand Gulf Energy is focused on low-risk, conventional oil and gas plays in Louisiana, close to existing infrastructure and close to or within existing oil and gas production.

Grand Gulf Energy’s strategy is to apply the expertise and new technology (such as 3D seismic) required to deliver a low risk exploration and development portfolio with potentially high rewards. The company is also focused on forming relationships with organizations that can deliver further acquisition and development opportunities.

Major competitors consist of other mining companies in Australia and overseas exploring for gold, precious and base metals. These range from massive international companies to small explorers with one or two projects. Prospective gold customers include governments, banks and international gold brokers whilst for precious and base metals would involve arrangements with utilities, large industrial users and steel plants.

Grand Gulf Energy (GGE) Products and Services

  • Oil and Gas Exploration in Gulf of Mexico, USA

Grand Gulf Energy (GGE) Locations and Subsidiaries

Grand Gulf Energy Head Office
Suite 8, 7 The Esplanade,
MT PLEASANT, WA 6153
Phone: 08 9316 9100
Fax: 08 9315 5475

Grand Gulf Energy (GGE) Share Price

Submitted by ASX Listed Company on 28 March, 2010 - 00:00

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