The prospect contains estimated P50 reserves of 4 to 5 billion cubic feet of gas. Meanwhile, the Plum Deep Prospect, to be drilled next year by Golden Gate, will target P50 reserves estimated at greater than 290 BCF.
“Golden Gate’s participation in Dunn–Peach-6 is the result of the recently concluded agreement with BNP to revitalise drilling of the Padre Island shallow prospects,” the company said.
“As part of this agreement, plans are in progress to drill further appraisal/development wells on the La Playa Shallow Field during the first half of 2006.”
Golden Gate will participate in the La Playa wells with a 35% working interest.
In addition, the company says it plans to next year drill wells on the Manzano and Wilson prospects. It said success at any of these prospects, would significantly increase the company’s cash flow.
