GPOR - Thailand Update

[dan_s]

Gulfport owns interests in four onshore concession blocks in Thailand

Sin Phu Horm gas field in block 15/43 (operated by Hess Corp.) produced 88.85
MMcf per day of natural gas and 405 barrels per day of condensate in 1Q’11
- Gulfport owns 0.7%
- Received $7.81 per Mcf gas and $94.84 per barrel of condensate
(gas price linked to MSFO under long-term contract)

In 2008, Tatex III was formed to explore and develop the 1-million acre Concession Block L16/50
- Gulfport owns a 17.9% interest in Tatex III

Tatex III shot the largest onshore 3-D seismic survey in SE Asia over L16/50 during 2009

TEW-E Well logged over 5,000 feet of apparent possible gas saturated column in March 2011
- Tetex attempted to test the well with a coil tubing unit. It could not get past blockage in the well.
- A drilling rig is expected to return by September to clear blockage from well bore and flow test well

[mdwitte]

Huh? Only 5000' of gas? ...sounds like a dry hole...

[dan_s]

On the first quarter CC GPOR said they expect multiple TCF of recoverable gas. Development plan may including building a gas fired power plant on the site.