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Grand Gulf Energy Limited (ASX:GGE)

ALERT: Price-sensitive ASX Announcement for GGE
Current share price for GGE : $0.002 0.001 (50%)+
Announcement
Release
31 Jul 2026 4:51PM
Price at Release
$0.001
Full Release
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Summary
Grand Gulf Energy Limited reported its June 2026 quarterly activities, highlighting continued oil production from the Hensarling #1 well in the Desiree Field, Louisiana, with an average realized oil price increase. The company is exploring revenue enhancement options and reported promising assay results from its Dry Wash Antimony Project in Utah. A technical review is underway for the Red Helium Project in response to rising helium prices. The quarter ended with a cash balance of AUD 779,000, with operating cash outflows of AUD 130,000.
Key Points
  • Grand Gulf Energy Limited reported continued oil production from the Desiree Field in Louisiana, USA.
  • The Hensarling #1 well produced approximately 4,285 barrels gross during the June 2026 quarter, with a net of 1,390 barrels to GGE.
  • Average realized oil price increased to US$87.94/barrel from US$60.83 in the previous quarter.
  • GGE is reviewing work-over and re-completion options to enhance revenue in the strong oil market.
  • The Dry Wash Antimony Project in Utah showed promising assay results, with samples returning values of up to 26 ppm Sb and 6,588 ppm As.
  • The Red Helium Project in Utah is under comprehensive technical review due to increased global helium prices.
  • The company ended the quarter with a cash balance of AUD 779,000 and no debt.
  • Grand Gulf reported net cash outflows from operating activities of AUD 130,000 for the quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.