-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fp9Cj9ebHnW/sDKw0yy9LF7dDIaEBhMfVH+c/V6fdk6+pezaK3wGlVhcS/VhHFdO XTzgPWdtR7q5TfLrAAzgHg== 0000896726-10-000043.txt : 20100917 0000896726-10-000043.hdr.sgml : 20100917 20100917152651 ACCESSION NUMBER: 0000896726-10-000043 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20100913 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100917 DATE AS OF CHANGE: 20100917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEOGLOBAL RESOURCES INC. CENTRAL INDEX KEY: 0000896726 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 330464753 STATE OF INCORPORATION: DE FISCAL YEAR END: 0728 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32158 FILM NUMBER: 101078166 BUSINESS ADDRESS: STREET 1: SUITE 200, 625 - 4TH AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0K2 BUSINESS PHONE: 403-777-9250 MAIL ADDRESS: STREET 1: SUITE 200, 625 - 4TH AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0K2 FORMER COMPANY: FORMER CONFORMED NAME: GEOGLOBAL RESOURCES INC DATE OF NAME CHANGE: 20040202 FORMER COMPANY: FORMER CONFORMED NAME: SUITE 101 COM INC DATE OF NAME CHANGE: 19990201 FORMER COMPANY: FORMER CONFORMED NAME: KINETIC VENTURES LTD DATE OF NAME CHANGE: 19970514 8-K 1 form8k.htm FORM 8K DATED SEPTEMBER 17, 2010 form8k.htm
 
 



 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K
CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 (the "Act")

September 13, 2010
(Date of earliest event reported)





GEOGLOBAL RESOURCES INC.
(Exact name of Registrant as specified in its Charter)



Delaware
(State or other jurisdiction of
incorporation or organization)
1-32158
(Commission File
Number)
33-0464753
(I.R.S. Employer
Identification No.)


200, 625 – 4 Avenue S.W.
Calgary, Alberta, Canada    T2P 0K2
(Address of principal executive offices)


Telephone Number (403) 777-9250
(Registrant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


(Former name or address, if changed since last report)


 
 



 

Item 7.01.   Regulation FD Disclosure.
(1)           On September 13, 2010, we issued a press release providing an update on certain of our exploration activities.  Attached is a copy of our press release dated September 13, 2010 attached hereto as Exhibit 99.1.

(2)           On September 14, 2010, we issued a press release announcing that a Memorandum of Understanding has been signed with Petro Caribbean Resources Ltd. with regard to conducting 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.  Attached is a copy of our press release dated September 14, 2010 hereto as Exhibit 99.2.

The information disclosed in this Item 7.01 and the related exhibit are being furnished solely to comply with Regulation FD and are not considered to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are not subject to the liabilities of that section unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Exchange Act. By filing this Current Report on Form 8-K and furnishing this information, we make no admission as to the materiality of any information in this Current Report on Form 8-K.




Item 9.01.  Financial Statements and Exhibits.
 
(a)           Financial statements of business acquired.
Not applicable

(b)           Pro forma financial information
Not applicable

(c)           Exhibits:



SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.



Dated:  September 17, 2010

GEOGLOBAL RESOURCES INC.
(Registrant)

/s/ Paul B. Miller
Paul B. Miller
President and CEO


 
 

 

EX-99.1 2 exhbt991.htm PRESS RELEASE DATED SEPTEMBER 13, 2010 exhbt991.htm
 
 

 

EXHIBIT 99.1
GEOGLOBAL PROVIDES EXPLORATION ACTIVITIES UPDATE

Calgary, Alberta, Canada, September 13, 2010 – GeoGlobal Resources Inc. (GeoGlobal or the Company) (NYSE/Amex: GGR) disclosed today an update of certain of our exploration activities.

Exploration Highlights:
 
Ø  
Offer for KG Onshore Block participating interest increase
Ø  
Second well in Rajasthan commenced drilling
 
KG Onshore exploration block
Pursuant to our September 14, 2006 agreement with Oil India Limited (OIL) we have the right to increase our participating interest in the KG-ONN-2004/1 exploration block (KG Onshore) up to a 25% participating interest, subject to the availability of sufficient net worth and Government of India consent.  Subsequent to us entering into that agreement, OIL has offered to us the right to increase our participating interest on the KG Onshore block to 20%, such increase also being subject to Government of India approval.  We currently hold a 10% participating interest and we have agreed to accept the additional 10% participating interest.  We are currently in the process of completing all necessary documentation to be forwarded to the Government of India through OIL as Operator, for final approval.  Up on Government of India approval, we will hold a 20% participating interest in the KG Onshore block and will become responsible to pay our 20% share of the costs of exploration activities on the block.
 
Rajasthan exploration block
Drilling operations are complete on the Rachan-1 well located within the exploration block RJ-ONN-2004/3 (RJ Block 21).  The Rachan-1 well which commenced drilling on April 21, 2010 was drilled to a total depth of 1,550 meters to test the Jodhpur Sandstone and the Upper Carbonate group.  The initial testing program of the Rachan-1 well took place in the Upper Bilara (1350m – 1355m) zone between 1,350 and 1,355 meters. The zone was perforated twice with no influx observed even after swabbing the well.  The well is currently suspended with future plans for a cement plug to be placed above the perforated zone and a testing program to the Upper Carbonate group with a work-over rig.
 
Mr. Paul B. Miller, President and CEO of GeoGlobal stated: "We are further reviewing our geological model with the results of the Rachan-1 well.  The Wireline Formation Tests showed formation fluid as water with traces of oil in all reservoirs, with good reservoir porosity, permeability, and pressures up to 2,200 psi.  The Rachan-1 is the first of twenty exploration wells to be drilled on the Rajasthan blocks and has provided valuable information for planning the future locations.  Many exciting prospects are believed remaining to be drilled, two of which have already been planned in the exploration block RJ-ONN-2004/2 (RJ Block20).”
 
Drilling operations commenced on the second exploration well, the Madasar-1 well on August 6, 2010.  Oil India Limited (OIL), as operator of the RJ Block 21, is drilling the Madasar-1 to a vertical depth of approximately 1,500 meters to test the Jodhpur Sandstone and the Upper Carbonate group.  The Madasar-1 well is located approximately 12.5 kilometers southeast of the Rachan-1 well up dip and closer to the OIL’s Baghewala oil field.   GeoGlobal has a 25% participating interest in the RJ Block 21.
 
About GeoGlobal
GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a US publicly traded oil and gas company, which, through its subsidiaries, is engaged in the pursuit of petroleum and natural gas through exploration and development in India and Israel. The Company has been focused on the development of high potential exploration targets in the Krishna Godavari, Cambay, Deccan Syneclise, and Rajasthan basin areas in India.
 
Cautionary Statement For Purposes Of The “Safe Harbor” Provisions Of The Private Securities Litigation Reform Act Of 1995
This press release contains statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of GeoGlobal Resources Inc., its directors, or its officers with respect to the oil and gas exploration, development and drilling activities being conducted and intended to be conducted and the outcome of those activities on the exploration blocks in which the Company has an interest. The company updates forward-looking information related to operations, production and capital spending on a quarterly basis and updates reserves, if any, on an annual basis.  The Company’s forward looking statements include, among others, its statements and estimates as to:
·  
the statements herein regarding our plans and objectives relating to our future operations,
·  
plans and objectives regarding the exploration, development and production activities conducted on the exploration blocks in India and Israel where we have interests,
·  
plans regarding drilling activities intended to be conducted through the ventures in which we are a participant, the success of those drilling activities and our ability and the ability of the ventures to complete any wells on the exploration blocks, to develop reserves of hydrocarbons in commercially marketable quantities, to establish facilities for the collection, distribution and marketing of hydrocarbons, to produce oil and natural gas in commercial quantities and to realize revenues from the sales of those hydrocarbons,
·  
our ability to maintain compliance with the terms and conditions of our production sharing and other contracts, including the related work commitments, to obtain consents, waivers and extensions under the terms of these production sharing and other contracts as and when required, and our ability to fund those work commitments,
·  
our plans and objectives to join with others or to directly seek to enter into or acquire interests in additional production sharing or other contracts in India, Israel and elsewhere,
·  
our assumptions, plans and expectations regarding our future capital requirements,
·  
our plans and intentions to raise additional capital we require and our likelihood of success in that regard,
·  
the costs and expenses to be incurred in conducting exploration, well drilling, development and production activities, our estimates as to the anticipated annual costs of those activities and the adequacy of our capital to meet our requirements for our present and anticipated levels of activities are all forward-looking statements.
 
We caution you that various risk factors accompany our forward-looking statements and are described, among other places, under the caption “Risk Factors” in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K, as well in our press releases.  These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans. If our plans fail to materialize, your investment will be in jeopardy.  Among others, these risk factors include:
·  
We cannot assure you that our assumptions or our business plans and objectives will prove to be accurate or be able to be attained.
·  
We cannot assure you that the exploratory drilling to be conducted on the exploration blocks in which we hold an interest will result in a discovery of reserves of hydrocarbons or that any hydrocarbons that are discovered on the exploration blocks in which we have an interest will be in commercially recoverable quantities.  In addition, the realization of any revenues from commercially recoverable hydrocarbons is dependent upon the ability to deliver, store and market any hydrocarbons that are discovered.
·  
Our ability to realize material revenues cannot be assured.  Our ability to successfully drill, test and complete significant numbers of producing wells cannot be assured.
·  
We cannot assure you that we will have available to us the capital required to meet our plans and objectives at the times and in the amounts required or we will have available to us the amounts we are required to fund under the terms of the production sharing and other contracts we are a party to.  We cannot assure that we will be successful in raising the additional capital we currently require.
·  
We cannot assure you that we will be successful in joining any further ventures seeking to be granted production sharing or other contracts in India, Israel or elsewhere or that we will be successful in acquiring interests in existing ventures.
·  
We cannot assure you that we will obtain all required consents, waivers and extensions from a governmental or regulatory body in India or Israel as and when required to maintain compliance with production sharing or other contracts we have entered into, that we may not be adversely affected by any delays we may experience in receiving those consents, waivers and extensions, and that we may not incur liabilities under the production sharing or other contracts for our failure to maintain compliance with the requirements of and timely complete the related work programs.
·  
We cannot assure you that Gujarat State Petroleum Corporation, the operator of the KG Offshore Block, may not be successful in its efforts to obtain payment from us on account of exploration costs it has expended on the KG Offshore Block for which it asserts we are liable or otherwise seek to hold us in breach of that Production Sharing Contract or commence arbitration proceedings against us and be successful in its assertion that it can terminate our contract with them or the Government of India.
·  
We cannot assure you of our ability to meet our goals and objectives and the consequences to us from adverse developments in general economic or capital market conditions, events having international consequences, or military or terrorist activities could have a material adverse effect on us.
 
An investment in shares of our common stock involves a high degree of risk. Our periodic reports we file with the Securities and Exchange Commission and Canadian provincial authorities may be viewed at http://www.sec.gov and www.sedar.com.
 
For further information contact:
GeoGlobal Resources Inc.                              www.geoglobal.com
 
The Equicom Group
Paul B. Miller, President and CEO
Carla Boland, Investor Relations and Corporate Affairs
 
Dave Feick, Managing Director,
Western Canada
Phone: +1 403 777-9250
Fax:     +1 403 777-9199
Email:    info@geoglobal.com
 
Phone:    +1 403 218-2839
Fax:        +1 403 218-2830
Email:     dfeick@equicomgroup.com

 
 

 

EX-99.2 3 exhbt992.htm PRESS RELEASE DATED SEPTEMBER 14, 2010 exhbt992.htm
 
 

 

EXHIBIT 99.2
GEOGLOBAL SIGNS MEMORANDUM OF UNDERSTANDING IN COLOMBIA
 

Calgary, Alberta, Canada, September 14, 2010 – GeoGlobal Resources Inc. (GeoGlobal or the Company) (NYSE/Amex: GGR) announces that a Memorandum of Understanding (MOU) has been signed with Petro Caribbean Resources Ltd. (PCR) relating to conducting oil and natural gas exploration and development activities in Colombia, subject to the execution by PCR of definitive agreements with the Colombian National Agency of Hydrocarbons (ANH).
 
The exploration activities are to be conducted on two onshore exploration blocks located in the Putumayo basin in southwest Colombia known as the Putumayo 6 (PUT 6) and Putumayo 7 (PUT 7) exploration blocks.  The PUT 6 and PUT 7 cover an area of approximately 574 and 167 square kilometers, respectively.
 
Subject to the execution of a Joint Operating Agreement, GeoGlobal will be carried for a 10% participating interest in both the PUT 6 and PUT 7 exploration blocks through the minimum and additional work programs as bid in return for GeoGlobal providing to PCR technical assistance through the exploration phase.
 
Additionally, GeoGlobal is to have the right to acquire up to an additional 40% participating interest in each of the PUT 6 and PUT 7 exploration blocks exercisable on or before September 21, 2010 unless otherwise agreed and extended by both parties, in consideration of payment to PCR of GeoGlobal’s 40% participating interest share of all third party costs incurred, including performance bonds and guarantees, through exercise of the rights.
 
Jean Paul Roy, a Director and the former chief executive officer of GeoGlobal, has advised GeoGlobal that his wholly-owned company, Roy Group (Mauritius) Inc. (RGM), has agreed to guarantee the payment and performance of PCR's obligations under the Colombian exploration and production contracts (the "Guarantee").  In consideration for giving the Guarantee, PCR has agreed that: (i) RGM is entitled for a period of two years to participate in any future equity financings of PCR; (ii) PCR will indemnify RGM against any and all costs which RGM may incur under or in connection with the Guarantee; and (iii) at the request of RGM, PCR will grant RGM a first lien over a ll of the assets and property of PCR as security for PCR's obligations under the indemnity.
 
About GeoGlobal
GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a US publicly traded oil and gas company, which, through its subsidiaries, is engaged in the pursuit of petroleum and natural gas through exploration and development in India, Israel and Colombia. The Company has been focused on the development of high potential exploration targets in the Krishna Godavari, Cambay, Deccan Syneclise, and Rajasthan basin areas in India.
 

Cautionary Statement For Purposes Of The “Safe Harbor” Provisions Of The Private Securities Litigation Reform Act Of 1995
This press release contains statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of GeoGlobal Resources Inc., its directors, or its officers with respect to the oil and gas exploration, development and drilling activities being conducted and intended to be conducted and the outcome of those activities on the exploration blocks in which the Company has an interest. The company updates forward-looking information related to operations, production and capital spending on a quarterly basis and updates reserves, if any, on an annual basis.  The Company’s forward looking statements include, among others, its statements and estimates as to:
·  
the statements herein regarding our plans and objectives relating to our future operations,
·  
plans and objectives regarding the exploration, development and production activities conducted on the exploration blocks in India, Israel and Colombia where we have interests,
·  
plans regarding drilling activities intended to be conducted through the ventures in which we are a participant, the success of those drilling activities and our ability and the ability of the ventures to complete any wells on the exploration blocks, to develop reserves of hydrocarbons in commercially marketable quantities, to establish facilities for the collection, distribution and marketing of hydrocarbons, to produce oil and natural gas in commercial quantities and to realize revenues from the sales of those hydrocarbons,
·  
our ability to maintain compliance with the terms and conditions of our production sharing and other contracts, including the related work commitments, to obtain consents, waivers and extensions under the terms of these production sharing and other contracts as and when required, and our ability to fund those work commitments,
·  
our plans and objectives to join with others or to directly seek to enter into or acquire interests in additional production sharing or other contracts in India, Israel, Colombia and elsewhere,
·  
our assumptions, plans and expectations regarding our future capital requirements,
·  
our plans and intentions to raise additional capital we require and our likelihood of success in that regard,
·  
the costs and expenses to be incurred in conducting exploration, well drilling, development and production activities, our estimates as to the anticipated annual costs of those activities and the adequacy of our capital to meet our requirements for our present and anticipated levels of activities are all forward-looking statements.
 
We caution you that various risk factors accompany our forward-looking statements and are described, among other places, under the caption “Risk Factors” in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K, as well in our press releases.  These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans. If our plans fail to materialize, your investment will be in jeopardy.  Among others, these risk factors include:
·  
We cannot assure you that our assumptions or our business plans and objectives will prove to be accurate or be able to be attained.
·  
We cannot assure you that the exploratory drilling to be conducted on the exploration blocks in which we hold an interest will result in a discovery of reserves of hydrocarbons or that any hydrocarbons that are discovered on the exploration blocks in which we have an interest will be in commercially recoverable quantities.  In addition, the realization of any revenues from commercially recoverable hydrocarbons is dependent upon the ability to deliver, store and market any hydrocarbons that are discovered.
·  
Our ability to realize material revenues cannot be assured.  Our ability to successfully drill, test and complete significant numbers of producing wells cannot be assured.
·  
We cannot assure you that we will have available to us the capital required to meet our plans and objectives at the times and in the amounts required or we will have available to us the amounts we are required to fund under the terms of the production sharing and other contracts we are a party to.  We cannot assure that we will be successful in raising the additional capital we currently require.
·  
We cannot assure you that we will be successful in joining any further ventures seeking to be granted production sharing or other contracts in India, Israel, Colombia or elsewhere or that we will be successful in acquiring interests in existing ventures.
·  
We cannot assure you that we will obtain all required consents, waivers and extensions from a governmental or regulatory body in India or Israel as and when required to maintain compliance with production sharing or other contracts we have entered into, that we may not be adversely affected by any delays we may experience in receiving those consents, waivers and extensions, and that we may not incur liabilities under the production sharing or other contracts for our failure to maintain compliance with the requirements of and timely complete the related work programs.
·  
We cannot assure you that Gujarat State Petroleum Corporation, the operator of the KG Offshore Block, may not be successful in its efforts to obtain payment from us on account of exploration costs it has expended on the KG Offshore Block for which it asserts we are liable or otherwise seek to hold us in breach of that Production Sharing Contract or commence arbitration proceedings against us and be successful in its assertion that it can terminate our contract with them or the Government of India.
·  
We cannot assure you of our ability to meet our goals and objectives and the consequences to us from adverse developments in general economic or capital market conditions, events having international consequences, or military or terrorist activities could have a material adverse effect on us.
 
An investment in shares of our common stock involves a high degree of risk. Our periodic reports we file with the Securities and Exchange Commission and Canadian provincial authorities may be viewed at http://www.sec.gov and www.sedar.com.
 

 
For further information contact:
GeoGlobal Resources Inc.                              www.geoglobal.com
 
The Equicom Group
Paul B. Miller, President and CEO
Carla Boland, Investor Relations and Corporate Affairs
 
Dave Feick, Managing Director,
Western Canada
Phone: +1 403 777-9250
Fax:     +1 403 777-9199
Email:    info@geoglobal.com
 
Phone:    +1 403 218-2839
Fax:        +1 403 218-2830
Email:     dfeick@equicomgroup.com



 
 

 

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-----END PRIVACY-ENHANCED MESSAGE-----