Just when you think they have done enough out comes another rabbit!
Why cant they ever do a transparent deal.
Has a pic too.
http://www.sarogr.ge/eng/tenders/index.htm
Strait Oil and Gas ltd - license blocks VIA, VIB (West Georgia), which are exploration blocks. The company is registered in Gibraltar and its shares are held by two Trust companies. Strait Oil and Gas ltd also owns stake in subsidiary companies of “Oil and Gas Mining and Venture Capital”, is a main shareholder of “3Legs Venture Capital” and a originator of “Vane Minerals” carrying out its activities in Mexico and the USA; It also possesses shares in such companies as “Anglo-Asian Mining” and “Cadogan Petroleum”
The Georgian State Agency for Regulation of Oil and Gas Resources has finally issued 25-year licenses to the winners of the bidding round conducted in June 2006. Aksai BMC was awarded the 5,770 sq km Block V in the Rioni Basin. Gibraltar-registered Strait Oil and Gas Ltd won two tracts in western Georgia, Block VIa (3,307 sq km) and Block VIb (3,454 sq km). Global Oil & Energy Ltd was awarded Block VIIb (1,040 sq km) bordering the Black Sea coast and Block VIII (4,780 sq km) in the Lesser Caucasus Fold Belt. The licenses are each valid for a total of 25 years but during the initial four-year exploration phase there is a commitment to invest in excess of US$ 150 million in the acreage. Georgia forecasts oil and gas resources for the five awarded blocks plus offshore Block IId (3,480 sq km), which did not attract any interest, at 6.4 Billion barrels (53% onshore and 47% offshore) and 6.4 Tcf of gas.
RRS Price at posting:
4.7¢ Sentiment: Sell Disclosure: Not Held
