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Geoglobal Resources, Inc. (GGLR)

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Last Post: 9/26/2014 4:19:12 PM - Followers: 29 - Board type: Free - Posts Today: 0


GeoGlobal Resources Inc., through its subsidiaries, is engaged in the pursuit of petroleum and natural gas through exploration and development activities. GGR holds a well balanced portfolio of assets with production of both natural gas and crude oil in India. Our inaugural step into the oil and gas industry was the participation in the signing of a Production Sharing Contract on the KG-OSN-2001/3 Offshore Block in India in 2004. Since that time, GGR has continued to grow its asset position with the participation in 9 additional production sharing contracts in India, 3 licenses in Israel and 2 licenses in Colombia. We operate 5 of our 15 blocks/licenses, 2 of which are in India and 3 of which are in Israel.

Our 15 blocks/licenses encompass approximately 3.7 million gross acres (1.6 million net acres) of land and to date 99 wells have been drilled on those blocks/licenses.

Capex Program

In India, during 2011 and up to March 31, 2012, based on current budgets, we anticipate drilling seven exploratory wells; two core wells; acquiring, processing and interpreting 2,480 line kilometers of 2D seismic data; and acquiring, processing and interpreting 350 square kilometers of 3D seismic data as well as processing and interpreting an additional 400 square kilometers of 3D seismic data. We further expect to tie-in additional oil wells in Tarapur along with the construction of a gas pipeline for the Tarapur G gas discovery and to continue with the construction of the gas gathering and production facilities together with further development drilling on the KG Offshore Block in which we have a carried interest.  Additional expenditures may be incurred in connection with additional exploratory, appraisal and development wells we may participate in.

If the Government of India approves the increase to our participating interest in the KG Onshore Block to 20%, our obligations to fund the 3D seismic acquisition and the exploratory drilling on the block will increase.

In Israel, during 2011, we expect to complete the acquisition, processing and interpretation of 43 square kilometers of 3D seismic data in our Samuel license as well as complete the processing and interpretation of 1,360 square kilometers of 3D seismic data covering our Myra and Sara licenses and also commence drilling our first deepwater exploration well before the end of the year.

Well Information

As at December 31, 2010, we have participated since inception through joint ventures in the drilling of ninety-nine wells. Further, we acquired three wells originally drilled by ONGC in the Tarapur Block. Of the total ninety-nine wells drilled, sixteen have been drilled in the Krishna Godavari Basin within the KG Offshore Block, eighty-one have been drilled in the Cambay Basin and two have been drilled in the Bikaner-Nagaur Basin. A total of forty-three wells have been abandoned or will be abandoned because of the absence of economic quantities of hydrocarbons or because the well characteristics would make the production of hydrocarbons problematic and non-commercial.

Field development plans have been filed by GSPC with the Government of India and Director General of Hydrocarbons for a portion of the KG Offshore Block and the Tarapur Block under the provisions of the PSC. The Government of India has provided approval for these plans subject to certain terms and conditions.

While we have discoveries in the Ankleshwar Block, the Mehsana Block and the Sanand/Miroli Block along with additional discoveries in the Tarapur Block and the KG Offshore Block, field development plans have not yet been submitted on those blocks for those specific discoveries.

In 2010, the Company acquired participating interests in 3 licenses in Israel. The exploration rights pursuant to these licenses are located in the Levantine Basin located offshore off the western coast of Israel in the Mediterranean Sea with the licenses varying in distances between 6 and 25 miles off the coast.

These licenses are in the early stage of development and as such, drilling of wells has not yet commenced.

The exploration rights pursuant to the licenses we have entered into with the Israel Ministry of National Infrastructure are located in the following areas:

    The Levantine Basin located off the coast of Israel.

There is an approved field development plan which covers an area of approximately 2.14 square kilometers within the Tarapur 1 Discovery Area of approximately 9.7 square kilometers, and includes three discovery wells and three development wells. All six wells are tied into the oil tank storage facilities by way of a gathering system and are on production.

There are ten additional wells in the Tarapur 1 Discovery Area which are drilled, tested and awaiting tie-in to the oil tank storage facilities. Further, there is one gas well whose declaration of commerciality has been reviewed and declared as a commercial discovery. Production from Tarapur G will commence upon approval of a field development plan. The operator is currently in the process of preparing and filing the necessary declarations of commerciality and/or field development plans pursuant to the provisions of the Production Sharing Contracts to bring these additional discoveries onto production.

There is an approved Deen Dayal West field development plan as follows:

    Includes fifteen wells; four existing wells (KG#8, KG#15, KG#17 and KG#28) and eleven new development wells including three slant wells and eight multilateral wells to be drilled.
    Production facilities to be constructed include:
        Two offshore platforms (one well head and one central processing facility);
        20 kilometer long pipeline of 24 inch diameter pipe extending to a landfall point; and
        One onshore gas terminal to include a gas sweetening unit, gas dehydration unit, dew point depression unit, condensate stabilization unit, sulphur recovery unit and a captive power unit.
    Delivery point for gas will be the outlet flange of a delivery facility to be located at the onshore terminal near Yanam, Kakinada, Andhra Pradesh.
    First gas production to commence December 2011 (subsequent to approval, amended to April 2013 or later).
    GSPC as operator is expected to apply for a 17 square kilometer mining lease to cover this area.

Field development plans have been filed with the Government of India and Director General of Hydrocarbons for a portion of the KG Offshore Block and the Tarapur Block under the provisions of the PSC. The Government of India has provided approval for these plans subject to certain terms and conditions.

While we have discoveries in the Ankleshwar Block, the Mehsana Block and the Sanand/Miroli Block along with additional discoveries in the Tarapur Block and the KG Offshore Block, field development plans have not yet been submitted on those blocks for those specific discoveries.

The exploration rights pursuant to PSCs we have entered into with the Government of India are located in the following areas:

    The Krishna Godavari Basin offshore and onshore in the State of Andhra Pradesh in south eastern India;
    The Cambay Basin onshore in the State of Gujarat in western India;
    The Deccan Syneclise Basin onshore in the State of Maharashtra in west central India; and
    The Bikaner-Nagaur Basin onshore in the State of Rajasthan in north western India.

In 2010, we entered into a Memorandum of Understanding with Petro Caribbean Resources Ltd. relating to oil and natural gas exploration and development activities in Colombia, subject to execution by Petro Caribbean Resources Ltd. of definitive agreements with the Colombian National Agency of Hydrocarbons. Subject to the execution of a Joint Operating Agreement, we will be carried for a 10% participating interest in both the PUT 6 and PUT 7 licenses through the minimum and additional work programs as bid in return for us providing to Petro Caribbean Resources Ltd. technical assistance through the exploration phase.

These licenses are in the early stage of development and as such, no significant exploration activities have been carried out on these licenses.

The exploration rights pursuant to the licenses under the Memorandum of Understanding we have entered into are located in the following areas:

    The Putumayo Basin located onshore in southwest Colombia.

Corporate Head Office:
Suite 200, 625 - 4 Avenue SW
Calgary, Alberta
T2P 0K2 Canada
Phone: +1 (403) 777-9250
Fax:       +1 (403) 777-9199

India Project Office:
304 - 305, IT Tower II
Infocity, Airport Road
Gandhinagar, Gujarat
382 009, India
Phone: 91-79-6673-5000

Israel Project Office:
14 Shenkar Street, 2nd Floor
PO Box 12773
Herzliya, 46733, Israel
Phone: 972-73-706-6901
Fax:       972-73-706-6922

Profile    Get Profile for:

GeoGlobal Resources Inc.
Suite 200
Calgary, AB T2P 0K2
Canada - Map
Phone: 403-777-9250
Fax: 403-777-9199

Trading Information     
Stock Price History
Beta:    2.00
52-Week Change3:    -85.00%
S&P500 52-Week Change3:    10.99%
52-Week High (Jun 27, 2012)3:    0.49
52-Week Low (Mar 22, 2013)3:    0.03
50-Day Moving Average3:    0.04
200-Day Moving Average3:    0.07
Share Statistics
Avg Vol (3 month)3:    862,305
Avg Vol (10 day)3:    325,988
Shares Outstanding5:    138.34M
Float:    66.37M
% Held by Insiders1:    52.94%
% Held by Institutions1:    4.90%
Shares Short (as of Feb 28, 2013)3:    611.13K
Short Ratio (as of Feb 28, 2013)3:    1.10
Short % of Float (as of Feb 28, 2013)3:    0.90%
Shares Short (prior month)3:    610.61K
Dividends & Splits
Forward Annual Dividend Rate4:    N/A
Forward Annual Dividend Yield4:    N/A
Trailing Annual Dividend Yield3:    N/A
Trailing Annual Dividend Yield3:    N/A
5 Year Average Dividend Yield4:    N/A
Payout Ratio4:    N/A
Dividend Date3:    N/A
Ex-Dividend Date4:    N/A
Last Split Factor (new per old)2:    N/A
Last Split Date3:    N/A

See Key Statistics Help for definitions of terms used.
Abbreviation Guide: K = Thousands; M = Millions; B = Billions
mrq = Most Recent Quarter (as of Sep 30, 2012)
ttm = Trailing Twelve Months (as of Sep 30, 2012)
yoy = Year Over Year (as of Sep 30, 2012)
lfy = Last Fiscal Year (as of Dec 31, 2011)
fye = Fiscal Year Ending
1 Data provided by Thomson Reuters
2 Data provided by EDGAR Online
3 Data derived from multiple sources or calculated by Yahoo! Finance
4 Data provided by Morningstar, Inc.
5 Shares outstanding is taken from the most recently filed quarterly or annual report and Market Cap is calculated using shares outstanding.
6 EBITDA is calculated by Capital IQ using methodology that may differ from that used by a company in its reporting

Currency in USD.

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Current Price
Bid Ask Day's Range
#643   OK GGLR it might be legit they emailed sonnyman 09/26/14 04:19:12 PM
#642   Well if i could i would buy some sonnyman 09/25/14 03:34:42 PM
#641   Interesting. It was dead when I checked Kirk 09/25/14 10:46:05 AM
#640   dude if im reading correct whats written this sonnyman 09/24/14 09:57:44 PM
#639   Their website is back up and running. zephyroo 09/23/14 02:03:27 PM
#638   yes, sorry. Kirk 05/31/14 04:20:42 PM
#637   HYDERABAD: A team of scientists may have identified sonnyman 05/16/14 04:00:27 PM
#636   PLZ can you post the link to the sonnyman 05/16/14 03:49:05 PM
#635   Indian press is reporting that new oil and Orange4Yellow 05/01/14 04:11:56 PM
#634   Did you mean to say 0.91 cents (not NANOHUB 04/30/14 10:17:38 PM
#633   I bought shares at 0.091¢ in Dec. 13 Kirk 04/28/14 11:14:52 AM
#632   My bad, looks like Yahoo have a mix iwant1mil 11/01/13 10:06:06 AM
#631   Different company - no relation to GGLR Orange4Yellow 11/01/13 08:32:59 AM
#630   Global Green Matrix Corp. Announces Name Change iwant1mil 10/31/13 12:56:42 PM
#629   Hmmm....a 1.6 mill bid @.0111 zephyroo 10/30/13 03:38:03 PM
#628   Chart looks good. Might be at bottom now. iwant1mil 10/24/13 02:05:07 AM
#627   no new post?? sence[10/17/13] I have been keeping madmac11 10/22/13 04:23:38 PM
#626   Thanks for the update. iwant1mil 10/17/13 04:08:53 PM
#625   They have one property (Tarapur) that produces $100k/month Orange4Yellow 10/17/13 03:33:20 PM
#624   Is this puppy dead? Chart looks like at iwant1mil 10/17/13 02:55:09 AM
#623   Positive news out of India this week Orange4Yellow 09/12/13 12:45:16 PM
#622   there is some buying going on!!!! Pronto 2000 09/11/13 12:46:48 PM
#621   I picked up more this week, .024 avg Orange4Yellow 07/26/13 07:50:43 PM
#620   Seems like .02 is great spot to bid in. Greeny1 07/02/13 10:48:57 PM
#619   What area did you load up at? Greeny1 06/27/13 07:41:07 PM
#618   Won't happen until mid August Orange4Yellow 06/27/13 07:35:01 PM
#617   Don't you expect a big breakout soon? Greeny1 06/27/13 06:50:39 PM
#616   Not me, looks like one or two sellers, Orange4Yellow 06/27/13 06:38:46 PM
#615   Is that your sell order in ? Greeny1 06/27/13 09:17:07 AM
#614   There is high potential, and several avenues for Orange4Yellow 06/26/13 07:50:20 PM
#613   sounds like you have high hopes and high Greeny1 06/26/13 08:24:42 AM
#612   "Float" is probably 60m shares - and about Orange4Yellow 06/24/13 12:24:03 AM
#611   Trust your gut the DD is there read sonnyman 06/20/13 02:10:05 PM
#610   Where did you go Orange Greeny1 06/20/13 09:05:05 AM
#609   Those are some large numbers. Why is Greeny1 06/19/13 02:57:36 PM
#608   Why is the price $.03 and why is Greeny1 06/18/13 07:01:43 PM
#607   If Shemen hits light oil , they will Orange4Yellow 06/18/13 06:40:15 PM
#606   What is your target here this year? Greeny1 06/18/13 06:31:18 PM
#605   Would be nice if NITE would take some rlwinvestor 06/17/13 01:52:32 PM
#604   Wake me when it gets into .07-.09 range. zephyroo 06/14/13 05:07:12 PM
#603   Are you guys not getting excited? TheGrayRoom 06/14/13 03:20:05 PM
#602   Yes, whomever paid .025-.026 today is expecting .25+ Orange4Yellow 06/11/13 02:29:47 AM
#601   Wow! Had a sell in for .025 and iwant1mil 06/11/13 02:23:45 AM
#600   This transaction is on hold, but yes, for Orange4Yellow 06/11/13 12:42:07 AM
#599   Seems like a great buy here. Am Greeny1 06/09/13 09:06:00 PM
#598   Anybody know what the scoop is here? Greeny1 06/07/13 06:36:36 PM
#597   I've to agree with you, this board use ctcollins 06/05/13 02:56:43 PM
#596   Why is this board so slow with activity? Greeny1 06/03/13 04:33:39 PM
#595   Something's up, Bid of 240,000 @ .0171. iwant1mil 05/31/13 11:03:16 AM
#594   GGLR just popped up in a screen. What's phishtrick 05/26/13 04:43:21 PM