GeoGlobal provided an update of certain operational and exploration activities relating to KG-ONN-2004-1 (the KG Onshore Block) in India.
At an Operating Committee Meeting held on February 25, 2011, the members resolved to award a contract for consulting services on the KG Onshore Block to RPS Energy, Canada (RPS). Subject to Management Committee approval, RPS can proceed with the necessary engineering, commercial and critical logistical arrangements and undertake any preparatory work associated with the planned drilling campaign on the KG Onshore Block which entails drilling 12 exploration wells to various depths between 2,000-5,000 meters during Phase I.
"Completing the activities contemplated under this contract will clear the way for us to spud our first well in the KG Onshore Block," said Mr. Paul Miller, President and CEO of GeoGlobal. "Executing on a preliminary drilling program in this Block remains a near-term priority for the Company."
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