Greyson International, Inc. (GYSN)

[MU_Redskin1]

GYSN may be worth investing a nickel or two, imo...

This is a post from ERIK on the IV board.

http://www.investorvillage.com/smbd.asp?mb=14309&mn=7438&pt=msg&mid=12014621

>>> http://www.oilvoice.com/n/Blake_Oil_and_Gas_announces_establishment_of_strategic_partnership_to_fur
ther_exploit_oil_and_gas_assets_in_Georgia/2cdc13f4d102.aspx#ixzz23W3sy1Uz

Blake Oil and Gas announces establishment of strategic partnership to further exploit oil and gas assets in Georgia

Tuesday, August 14, 2012

Blake Oil and Gas Limited a privately owned, Guernsey registered, oil and gas company announces that it has entered into a Joint Venture arrangement with MND Group AS ('MND'), a member of the KKCG Investment Group, to fund development and appraisal activities on the Ninotsminda, Manavi and Norio oil and gas assets in the country of Georgia.

Under the agreement, MND will acquire a 50% interest in Blake's operating subsidiaries Ninotsminda Oil Company Limited, Canargo (Nazvrevi) Limited and Canargo Norio Limited, and will fund a significant work programme to accelerate the development of the currently producing Ninotsminda field as well as complete the appraisal of the substantial Manavi and Norio discoveries.

An independent report issued by Netherland, Sewell & Associates Inc. in 2011 assigned 2C Contingent recoverable resources for Manavi and Norio of 339.3 MMbo (129.6MMbo in Manavi and 209.7MMbo in the Norio Oligocene reservoir) and 58.3 Bcf (Manavi) as well as best estimate Prospective recoverable resources of 222.4 MMbo and 266.9 Bcf for the Middle Eocene reservoir within Norio. Blake will retain operatorship of the fields.

Vincent McDonnell, CEO of Blake commented: 'We are delighted to welcome MND into the Joint Venture. In addition to additional significant funding, our new partner will bring a wealth of experience and expertise to the projects. Work will begin immediately on preparing for seismic acquisition with a view to an extensive drilling programme over the coming three years.'

Andrew Morris, Chairman of Blake added: 'This is a significant strategic step in the development of Blake as an international oil and gas company. With funding of our core assets in Georgia secured, and a clear work programme in place, Blake can now look forward to developing its broader business with new opportunities.'

Bernhard Cociancig, CEO of MND International commented: 'I am glad to have now become a partner with Blake in this exciting project, where the implementation of the defined and agreed work programme is about to gain momentum and pace. Over the past months Blake and MND have developed an excellent working relationship and in previous visits to Georgia, I have been able to witness the encouraging progress in the country.'

Read more: http://www.oilvoice.com/n/Blake_Oil_and_Gas_announces_establishment_of_strategic_partnership_to_fur
ther_exploit_oil_and_gas_assets_in_Georgia/2cdc13f4d102.aspx#ixzz23W3sy1Uz

http://af.reuters.com/article/energyOilNews/idAFL6E8JE4IB20120814

Czech oil firm MND buys into Georgian licences
Tue Aug 14, 2012 10:18am GMT


PRAGUE Aug 14 (Reuters) - Czech oil company MND has bought 50 percent stakes in three oil exploration companies in Georgia from Blake Oil and Gas, a private company focusing on gas exploration in the former Soviet country.

MND did not disclose how much it was paying for the stakes in Ninotsminda Oil, Canagro and Canagro Norio, which have exploration and production licences for three areas in Georgia, but it said its investment in the deal should exceed 2 billion crowns ($98 million) over the next three years.
In the event of further oil discoveries, MND plans to invest 38 billion crowns in the venture over the following seven years, it said. ($1=20.3331 Czech crowns) (Reporting by Jana Mlcochova; Editing by Greg Mahlich)

Andrew Morris, Chairman of Blake added: 'This is a significant strategic step in the development of Blake as an international oil and gas company. With funding of our core assets in Georgia secured, and a clear work programme in place, Blake can now look forward to developing its broader business with new opportunities.'

Bernhard Cociancig, CEO of MND International commented: 'I am glad to have now become a partner with Blake in this exciting project, where the implementation of the defined and agreed work programme is about to gain momentum and pace. Over the past months Blake and MND have developed an excellent working relationship and in previous visits to Georgia, I have been able to witness the encouraging progress in the country.'

Read more: http://www.oilvoice.com/n/Blake_Oil_and_Gas_announces_establishment_of_strategic_partnership_to_fur
ther_exploit_oil_and_gas_assets_in_Georgia/2cdc13f4d102.aspx#ixzz23W3sy1Uz


http://af.reuters.com/article/energyOilNews/idAFL6E8JE4IB20120814

Czech oil firm MND buys into Georgian licences
Tue Aug 14, 2012 10:18am GMT

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[-] Text [+]
PRAGUE Aug 14 (Reuters) - Czech oil company MND has bought 50 percent stakes in three oil exploration companies in Georgia from Blake Oil and Gas, a private company focusing on gas exploration in the former Soviet country.

MND did not disclose how much it was paying for the stakes in Ninotsminda Oil, Canagro and Canagro Norio, which have exploration and production licences for three areas in Georgia, but it said its investment in the deal should exceed 2 billion crowns ($98 million) over the next three years.
In the event of further oil discoveries, MND plans to invest 38 billion crowns in the venture over the following seven years, it said. ($1=20.3331 Czech crowns) (Reporting by Jana Mlcochova; Editing by Greg Mahlich)

That means they put in 8,000,000,000 for 50% we own 5% of the other half or 40 million that is 40 cents and we can assume the czech's expect a return of at least 300% which at a minimum is 1.20 for GYSN <<<


git'er done and let 'er run ...

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