Business Summary
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GeoGlobal Resources Inc., through its subsidiaries, is engaged in the exploration for and development of oil and natural gas reserves. In May 2009, the Company started production from one field in the Tarapur block and produced 10,856 barrels of oil. It also have proved reserves in this field of 117.6 thousand barrels (MBbls) of oil and 88.5 thousand cubic feet (MMcf) of natural gas and probable reserves of 513.1 thousand barrels (MBbls) of oil and 695.6 MMcf of natural gas. The Company has exploration rights pursuant to production sharing contracts (PSCs) it entered into with the Government of India. It includes 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 Rajasthan Basin onshore in the State of Rajasthan in north western India.
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