GeoGlobal Resources Inc.,
GeoGlobal Resources Inc., is a rising universal oil and gas E&P organization with its real advantages in India, where oil and gas generation has started in three of the Company’s advantages in the inland Cambay Basin, and gas creation testing has initiated from the major demonstrated seaward Deen Dayal West Field in the Krishna-Godavari Basin where GeoGlobal’s accomplices have spent over US$3 billion on investigation and improvement to date.
Its outstanding shares are standing around 185,900,113, while authorized share are at 250,000,000.
Notwithstanding continuous challenges, the Company has been gaining significant ground as it recoups from its condition of close fall nearly eight months prior.
The arranged determination of extraordinary non-installment of due income from the Cambay Basin delivering fields is currently in procedure of settling, taking after which the Company hopes to then get around US$100k a month as its income offer from these interests.
Shri Narendra Modi, Prime Minister of India, as of late gave the important change to accommodate creation beginning of the hotly anticipated Tarapur #6 and related seven evaluation wells. This will give the hotly anticipated extra creation income from wells bored in 2007-2009 and give expected income in overabundance of $400,000 every month, net to GGR from early this year.
Expected penetrating of creation wells in the 1,200 sq km Tarapur Ring Fence Block booked to begin in the not so distant future is gauge to give operational income upside as GeoGlobal will target generation of 30,000 BOPD in the underlying advancement stage.
The Offshore KG field, where our accomplices to date have spent over US$3 billion in investigation and improvement, at last started gas creation testing in Aug, 2014. Introductory test creation is anticipated at around 55 MMcf every day by late Q1, 2015 and to more than 200 MMcf every day in 3-4 years. A further six Discoveries in the KG Offshore field are yet to be created.
It has settled issues and obligation with the Myra and Sara JV Block accomplices, where Ratio and Energean have gotten to be accomplices to re-bore and work the Sara Prospect at an expense of about US$80 million. Right now, GeoGlobal holds a 5% interest.
