Groundstar Executes Memorandum of Understanding with Kyrgyzneftegaz
Groundstar has executed a Memorandum of Understanding with Kyrgyzyneftegaz, the National Oil Company of the Republic of Kyrgyzstan. The MOU provides for the negotiation of a Production Sharing Agreement and Joint Venture Agreement between Groundstar and Kyrgyzneftegaz in respect to a producing oil field, as well as two exploration blocks (Exploration Block-1 and Exploration Block-2) in the Fergana Valley Basin, all of which lands are located in Kyrgyzstan.
Exploration Block-1 covers 120 square kilometers. The exploration target is the Jurassic formation at a depth of about 2,000 meters.
Exploration Block-2 is in the Kugart depression and covers 370 square
kilometers in the Fergana valley Basin. This exploration block has
multi-zone objectives, to a total depth of about 4,000 meters.
- Cambrian Reports Progress from Kyrgyzstan (Aug 16)
- Groundstar Executes Memorandum of Understanding with Kyrgyzneftegaz (Sep 26)
Company: Groundstar Resources more info
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