GGR: GeoGlobal Resources Inc [was GEOG was BOWG] (2000 + )

» Kirk - Private companies to pay for security of installations

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== 1 of 9 ==
Date: Tues, Feb 7 2006 4:39 am
From: "slipperydevils"

Private companies to pay for security of installations

Feb. 6: All private production sharing contracts -- particularly in
offshore areas -- will have to contribute to security cover given by
the Indian Navy and Coast Guard. This was decided in a meeting of the
Sub-Committee on Oil Companies Security Requirements recently. Even
private players who own exploration blocks and have not entered into
production will have to share costs, the Committee had opined. The cost
sharing principles will be worked out in the course of time. Subsequent
to terrorist attacks in the US, the petroleum ministry has been
concerned about ensuring adequate security cover for the country's oil
installations. While earlier the cost of providing security --
particularly by the Coast Guard -- was reimbursed by the government,
this practice was discontinued in 2003. Providing offshore security is
expected to cost a lot of money -- a well equipped Coast Guard vessel
could cost as much as Rs 50 crore -- and there is no option but to
share this cost among participants, the Committee felt. Details of the
meeting are carried here.

http://indianpetro.com/

-- posted by Kirk

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» Kirk - GeoGlobal to Test KG#17 Well

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Press Release Source: GEOGLOBAL RESOURCES INC.

GeoGlobal to Test KG#17 Well
Friday February 10, 9:30 am ET

CALGARY, Alberta--(BUSINESS WIRE)--Feb. 10, 2006--GeoGlobal Resources Inc. (AMEX:GGR - News) reports that Gujarat State Petroleum Corporation ("GSPC"), the operator of the KG#17 well in the KG Block, has reached total depth of 5,601 meters (5,223 meters total vertical depth). A testing program is being designed based upon independent log analyses and hydrocarbon shows while drilling. The testing program is expected to commence by mid February 2006.

Drilling of the KG#17 well commenced on August 23, 2005 from the KG#8 well platform. The well was drilled directionally to a location 2.23 kilometers to the northeast of the KG#8 discovery, intended to delineate the extent of the reservoir section tested in KG#8 and to seek to prove additional reserves below the KG#8 drilled depth of 5,061 meters total vertical depth. At the end of October, an intermediate string of 9 5/8-inch casing was set and cemented to 4,040 meters. An 8 1/2-inch hole has been drilled from 4,040 meters to a total depth of 5,601 meters (5,223 meters total vertical depth), which is approximately 160 meters vertically deeper than the KG#8 was drilled. A complete suite of modern logs have been run and the well is cased with a 7-inch liner to total depth.

GeoGlobal further announces that it has been advised by Jean Paul Roy, President and CEO of GeoGlobal, that he has transferred 1,869,000 shares of GeoGlobal common stock to family members and friends. Following this transaction, Mr. Roy owns 32,131,000 shares or approximately 50.5% of the shares presently outstanding. The shares will be restricted in further transfer until February 10, 2007 and to the extent required under applicable US Securities laws.

GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a US publicly traded oil and gas company, which through its subsidiaries, is engaged primarily in the pursuit of petroleum and natural gas through exploration and development in India. Since inception, the Company's efforts have been devoted to the pursuit of Production Sharing Contracts with the Government of India. Currently, the Company is focused on the development of high potential exploration targets in the Krishna Godavari, Cambay and the Deccan Syneclise basin areas.

Cautionary Statement to Investors

This press release contains statements ....yadda yadda... http://biz.yahoo.com/bw/060210/200602100...

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-- posted by Kirk

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» Kirk - GSPC to test its fourth well in KG-OSN-2001/3

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Another article about the testing

GSPC to test its fourth well in KG-OSN-2001/3
Feb. 12: The Gujarat State Petroleum Corporation (GSPC)-led consortium is soon going to test its fourth exploratory well in the Krishna Godavari block KG-OSN-2001/3. "KG-17 well has reached a total depth of 5,600 metre and a testing program is all set to begin from February 16, 2006," reliable GSPC sources told this website on Friday. The testing program has been based on independent log analyses and various hydrocarbon shows while spudding the exploratory well. The company has also run a complete suite of modern logs on the well, which is cased with a 7-inch liner to full depth, sources added. GSPC commenced drilling for the well from the last week of August 2005. The well is being drilled by the Saipem's jack-up rig Perro Negro 3. The consortium is committed to drill a total of 14 exploratory wells in the block. Of the four wells planned in Phase-I, the first two wells -- KG-1 and KG-11 -- turned out to be dry. But the third well, KG-8, drilled to a depth of 5,061 metre, encountered gas in four zones and has proven to be a major discovery for the consortium. The company is in Phase-II of the work program in the block. KG-OSN-2001/3 is a NELP-III block jointly held by GSPC, Jubilant Enpro and Geo Global Resources (GGR). GSPC holds a 80% stake, Jubilant Enpro carries 15% participating interest, and GGR holds the remaining 5% equity. By Sadiq Shaban

-- posted by Kirk

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» Kirk - WOW! KG-8,11&17 hydrocarbon continuity Fits Model!!!!

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GSPC seeks extension of KG-OSN-2001/3 contract area

Feb. 13: The Gujarat State Petroleum Corporation (GSPC) has sought an extension of the contract area of its highly prospective Krishna Godavari block KG-OSN-2001/3. The company has moved an application with the Directorate General of Hydrocarbons (DGH) requesting for additional acreage bordering the 1,850 sq km block. According to the block's geological model, two of GSPC's exploratory wells -- KG-8 and KG-11-- are found to have hydrocarbon continuity with an area stretching just beyond the boundaries of the block. Interestingly, KG-8 ---- drilled up to a depth of 5,061 metre -- has been one of last year's major gas finds. The drilling, petro-physical and core data of the recently spud KG-17 well, drilled till 5,600 metre, corroborated with the seismic interpretation of the block, also indicate a hydrocarbon continuity, a GSPC note states. The company is committed to drill a total of 14 exploratory wells in the Gujarat offshore block. KG-OSN-2001/3 is a NELP-III block jointly held by GSPC, Jubilant Enpro and Geo Global Resources (GGR). GSPC holds an 80% stake, Jubilant Enpro carries 15% participating interest, and GGR holds the remaining 5% equity.

-- posted by Kirk

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» Kirk - Another Geoglobal?

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This is a strange new release. Maybe there is another Geoglobal that is private and can have the same name.

http://au.biz.yahoo.com/060217/18/jm6p.h...

HK Bourse: Release from Peaktop Intl Hldgs On Connected Deal -9
Friday February 17, 2006, 12:26 pm
DJ HK Bourse: Release from Peaktop Intl Hldgs On Connected Deal

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PEAKTOP INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Stock code: 925)

CONTINUING CONNECTED TRANSACTIONS AND CONNECTED TRANSACTIONS RELATING TO PROVISION OF THE GUARANTEES

Continuing Connected Transactions The Directors announce that on 24 October 2005, Peaktop (BVI), a direct wholly owned subsidiary of the Company, entered into the PTT (HK) Distribution Agreement with PTT (HK) in relation to the appointment of PTT (HK) as a distributor for resale of the Products in the Territory. PTT (HK) is an indirect non-wholly owned subsidiary of the Company and owned as to 51% by Peaktop (BVI) and as to the remaining 49% by Geoglobal. Since each of Mr. Jeffrey Robbins and Mr. Gregory Schutte is a director of PTT (HK) and a substantial shareholder holding approximately 33.3% interest of Geoglobal, PTT (HK) is a connected person of the Company under the Old Listing Rules and the Listing Rules and the PTT (HK) Sales constituted continuing connected transactions under the Old Listing Rules and the Listing Rules.

On 24 October 2005, Peaktop (BVI) also entered into the PTT (USA) Distribution Agreement with PTT (USA) in relation to the appointment of PTT (USA) as a distributor for resale of the Products in the Territory. PTT (USA) is owned as to 19% by Peaktop (BVI), 51% by Geoglobal and 30% by Big Money. Since Mr. Jeffrey Robbins and Mr. Gregory Schutte are directors of PTT (HK), and each of them is a substantial shareholder holding approximately 33.3% interest of Geoglobal, also by virtue of Geoglobal's 49% shareholding interest in PTT (HK), Geoglobal is therefore a connected person of the Company. While Geoglobal is interested in more than 30% of the voting power of PTT (USA), PTT (USA) is an associate of Geoglobal and thus a connected person of the Company under the Listing Rules. Accordingly, the PTT (USA) Sales constituted continuing connected transactions under the Listing Rules.

PTT (HK) further entered into the Agency Agreement with Geoglobal on 24 October 2005 in relation to the appointment of Geoglobal as its marketing agent in the Territory for the promotion of, and solicitation of customers for, the Products. As PTT (HK) is owned as to 51% by Peaktop (BVI) and 49% by Geoglobal, Geoglobal is a connected person of the Company under the Old Listing Rules and the Listing Rules. Hence, the Agency Arrangements constituted continuing connected transactions under the Old Listing Rules and the Listing Rules.

A framework agreement setting out the proposed operations between PTT (HK), PTT (USA) and Geoglobal was entered into between the Group and Geoglobal on 9 January 2004. The framework agreement was superseded by the PTT (HK) Distribution Agreement, the PTT (USA) Distribution Agreement and the Agency Agreement.

Due to inadvertent oversight, the PTT (HK) Sales, the PTT (USA) Sales and the Agency Arrangements were not brought to the attention of the Stock Exchange and the Shareholders when they occurred. For the PTT (HK) Sales for the year ended 31 December 2003, the Company has failed to strictly comply with the disclosure requirements under Rule 14.25 of the Old Listing Rules. For the PTT (HK) Sales and the Agency Arrangements for the period from 1 January 2004 to 30 March 2004, the Company has failed to strictly comply with the reporting, announcement and Independent Shareholders' approval requirements under Rule 14.26 of the Old Listing Rules. For each of the Continuing Connected Transactions, the Company has failed to strictly comply with (i) the reporting, announcement and Independent Shareholders' approval requirements under Rule 14A.35 of the Listing Rules from 31 March 2004 onwards and (ii) the requirement of entering into a written agreement with the connected person under Rule 14A.35 of the Listing Rules until 25 October 2005.

(MORE TO FOLLOW) Dow Jones Newswires

-- posted by Kirk

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» honeyoneohone - Another Geoglobal?

In response to Another Geoglobal? posted by Kirk:

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Is this a bad thing, Kirk? I hope not--I just bought another bundle of GGR just before closing today. Dumb me, I missed out on the nice low earlier in the week.

-- posted by honeyoneohone

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