Ground Floor

1292 Hay Street

West Perth WA 6005

T +61 (0) 8 9389 2000

F +61 (0) 8 9389 2099

E info@grandgulf.net
www.grandgulfenergy.com

ABN 22 073 653 175

ASX GGE/GGEO

ASX/Media Release 3 January 2012

VERMILION RIVER PROSPECT SPUD

Well spud on 29 December 2011 and expected to reach TD in 100 days

High Impact Project targeting 110 BCFG & 3.3 million barrels condensate, up to 185 BCF and 5.5

MMBC.

The prospect lies between two major fields; Erath (1.2 TCFG + 42 MMBC) and Abbeville (255 BCFG +

17 MMBC) R. J. Perrin et al Well No. 1, Vermilion River, Vermilion Ph., LA, 7.83%WI, Non Operator

The Board is pleased to advise that the R. J. Perrin et al Well No. 1 spudded on 29 December 2011. The well has been partially turn