The company said the prospect is estimated to have P50 reserves with 115 billion cubic feet gas equivalent and a high flow rate potential in excess of 5-7 million cubic feet per day.
It added the prospect offers several target reservoir intervals in the Miocene Tex W interval and the initial well should encounter four sets of sandstone reservoirs occurring in three independent trap types.
The first well is expected to be drilled in September.
West Lake Boudreaux prospect would be Golden Gate's fourth high impact well to be drilled this year along with Bowtie West, LGS Deep and Bullseye.
Managing director Steve Graves said the prospect is low risk due to multiple targets in the well that are proven productive in the area.
"Golden Gate has an excellent portfolio of high impact exploration wells to be drilled this year, that in the event of success can materially transform the company," he said.
