GeoGlobal Resources provided an update of certain of our operations and corporate activities.

ANK 41-S Well

Gujarat State Petroleum Corporation (GSPC), the operator of the exploration block CB-ONN-2003/2, based on the encouraging drilling evidence and log response within the Cambay shale and Olpad formations, has executed a barefoot test in exploration well ANK-41S below the 5 1/2" casing shoe in the 528 m open interval (1,752 m to 2,280 m MD) (which flowed approximately 530 Mcf/day of gas with some oil during clean-up, with minimal drawdown).

GSPC is planning for a suitable completion to allow for a long term test to ascertain the potential of a new exploration play in this area, most probably within the Olpad formations - the primary exploration target for this well. A representative of DGH, the upstream advisory and regulatory body of Government of India has acknowledged the ANK-41S gas discovery and a Format-A is being prepared for filing.

Paul Miller, President and Chief Executive Officer of GeoGlobal stated "this open-hole test information is encouraging as these results are from a shale gas zone which could potentially open a completely new zone for exploration."

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