Posted in | News | Crude Oil / Petroleum | Mining Business

GeoGlobal Resources Executes International Operating Agreement

By Joel ScanlonMar 16 2011

GeoGlobal Resources executes the International Operating Agreement connecting to the offshore Israel license known as 388 "Samuel".

The Israel Petroleum Commissioner's office has informed an association that includes GeoGlobal, of the receipt of a petroleum license to this superficial water offshore license as per the former report on June 16, 2010

The Samuel license spans an area of about 361 km² and is situated in the Levantine Basin. The license extends into the Mediterranean Sea from the shoreline to a point around 10 kilometers off the western coast of Israel with water depths reaching around 100 meters.

According to the terms of the Operating Agreement, GeoGlobal can carry on the planned work program for this license and anticipates begining the three-dimensional seismic program in mid-April. Activity levels in Israel will increase when the agreement is executed.

Adira Geo Global (30% participating interest and Operator), Adira Oil Technologies (23.25% participating interest), Brownstone Venture (6.75% participating interest), Pinetree Capital (10% participating interest) and GeoGlobal (30% participating interest) hold the Samuel license.

Source:

http://www.geoglobal.com/

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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