GeoGlobal Resources disclosed today an update of certain of our operations and corporate activities.
ANK 41-S Well
Gujarat State Petroleum Corporation (GSPC), the operator of the exploration block CB-ONN-2003/2, based on the encouraging drilling evidence and log response within the Cambay shale and Olpad formations, has executed a barefoot test in exploration well ANK-41S below the 5 1/2" casing shoe in the 528 m open interval (1,752 m to 2,280 m MD) (which flowed approximately 530 Mcf/day of gas with some oil during clean-up, with minimal drawdown).
GSPC is planning for a suitable completion to allow for a long term test to ascertain the potential of a new exploration play in this area, most probably within the Olpad formations - the primary exploration target for this well. A representative of DGH, the upstream advisory and regulatory body of Government of India has acknowledged the ANK-41S gas discovery and a Format-A is being prepared for filing.
Paul Miller, President and Chief Executive Officer of GeoGlobal stated "this open-hole test information is encouraging as these results are from a shale gas zone which could potentially open a completely new zone for exploration."
GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a US publicly traded oil and gas company, which, through its subsidiaries, is engaged in the pursuit of petroleum and natural gas through exploration and development in India, Israel and Colombia. The Company has been focused on the development of high potential exploration targets in the Krishna Godavari, Cambay, Deccan Syneclise, and Rajasthan basin areas in India.
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