Groundstar Nachrichten - 500 Beiträge pro Seite

[Petronius]

SALVE!

Groundstar mit Nachrichten zu den Ägypten-Projekten:

http://oilgascoal.com/index.php?option=com_content&task=view…

Petronius

[Business_women]

ist ja schön und gut nur wäre es wichtig auch zu verstehen, was da überhaupt geschrieben steht. Gibt es vielleicht auch eine deutsche erläuterung dazu?

[Popeye82]

[grasgruener]

Groundstar report estimates 569 million barrels of oil


2008-06-27 05:26 ET - News Release

Mr. Kam Fard reports

GROUNDSTAR RESOURCES RECEIVES RESOURCE EVALUATION FOR WEST KOM OMBO BLOCK, EGYPT

Groundstar Resources Ltd. has received an independent resource assessment by Gustavson Associates LLC of Colorado for five prospects on the company's West Kom Ombo block, located in upper Egypt. Gustavson's probabilistic resource estimate of the five prospects yielded a best estimate (P50) prospective recoverable oil resource of 569 million barrels of oil (341 million net to Groundstar). Groundstar is the operator of the block with a 60-per-cent working interest.

Gustavson was retained by Groundstar to prepare the report to estimate the potential undiscovered recoverable oil resources within the Lower Cretaceous-Abu Ballas reservoir that was proven to be oil bearing at the Al Baraka discovery announced by Centurion/Dana Gas in 2007. The Al Baraka discovery is located 75 kilometres to the east of the West Kom Ombo block -- currently, Centurion is drilling an appraisal well (Kom Ombo No. 5) on the Al Baraka structure.

Gustavson conducted a re-evaluation of the subsurface data provided by Groundstar including reinterpretation of the 2-D seismic coverage and petrophysical analysis of well logs from the Kom Ombo area. The oil resource estimate is for a single Lower Cretaceous reservoir. As the Lower Cretaceous is a thick sandstone/shale sequence, Gustavson states "multiple target horizons are possible given recent exploration results in this area." In addition, the seismic data contain evidence of large deeper structures below the Lower Cretaceous that could contain significant hydrocarbon reserves. The Centurion/Dana Gas Kom Ombo No. 4 well had significant oil shows in the Jurassic section over several hundred feet beginning at 8,000 feet.

No wells have been drilled on the West Kom Ombo block and there have been no reserves found to date. A commercial oil discovery (Al Baraka) has been made by Centurion/Dana Gas 75 kilometres to the east in the adjacent block. A probabilistic resource estimate of the five prospects within the West Kom Ombo block are shown in the attached table.


PROSPECTIVE OIL RESOURCES, MILLIONS OF BARRELS

Prospect Low Best High
estimate estimate estimate

A 37 76 156
B 107 258 543
C 36 74 143
D 67 138 266
E 9 23 50
Totals 256 569 1,158

Prospective resources are defined as "those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. They are technically viable and economic to recover."

Low estimate -- This is considered to be a conservative estimate of the quantity that would actually be recovered from the accumulation. This term reflect a P90 confidence level where there is 90-per-cent chance that a successful discovery will be more than this resource estimate.

Best estimate -- This is considered to be the best estimate of the quantity that would actually be recovered from the accumulation. This term is a measure of central tendency of the uncertainty distribution and in this case reflects a P50 confidence level where the successful discovery will have a 50-per-cent chance of being more than this resource estimate.

High estimate -- This is considered to be an optimistic estimate of quantity that will actually be recovered from the accumulation. This term reflects a P10 confidence level where there is a 10-per-cent chance that a successful discovery will be more than this resource estimate.

Kam Fard, chief executive officer and president of Groundstar, stated: "The exploration potential of the West Kom Ombo block shown by the independent evaluation report submitted by Gustavson is extremely supportive of Groundstar's work to date. We look forward to continuing our aggressive work program on the block."

We seek Safe Harbor.

[HotMod]

freigeschaltet

[dukezero]

Danke!!

[dukezero]

Groundstar Resources Comments on Heritage's Discovery on Block Neighbouring Qara Dagh Block
GROUNDSTAR RESOURCES LTD GSA
5/7/2009 8:00:12 AM
CALGARY, ALBERTA, May 7, 2009 (Marketwire via COMTEX News Network) --

Kam Fard, Chief Executive Officer and Chairman of the Board of Directors of Groundstar Resources Limited ("Groundstar" or the "Company") (TSX VENTURE:GSA)has noted Heritage Oil Ltd.'s news of May 6, 2009 regarding a major oil discovery on its Miran West-1 well in the Kurdistan region of Iraq. Groundstar's Qara Dagh block is directly adjacent to Heritage's Miran block.

In its press release, Heritage summarized the results of the Miran West-1 well as:

- Miran West structure estimated oil in place of between 2.3 billion to 4.2 billion barrels;

- Recovery factor expected to be between 50 per cent to 70 per cent due to the highly fractured nature of the reservoirs;

- From the pressure data recorded during testing management estimates flow rates of between 10,000 to 15,000 barrels of oil per day per well;

- Miran West-1 well has an estimated gross oil-bearing interval of 710 metres;

- Oil produced during testing was medium gravity (approximately 27 degree API), with low sulphur, a low gas-oil ratio and with no water;

- Miran West field development will be low cost and straightforward to fast-track;

- Potential for trucking production for sale by year-end 2009;

Groundstar holds a 6% participating interest in a Production Sharing Contract with the Kurdistan Regional Government in the 846 square kilometre Qara Dagh block in Sulaymaniyah governorate of the Federal Region of Kurdistan - Iraq. Groundstar and its partners Niko Resources Ltd. (as operator) and Vast Exploration are currently conducting a 2-D seismic survey of the Qara Dagh block. The first phase of the survey is underway on the northwest portion of the reservoir closest to Heritage's Miran block.

Kam Fard, Chief Executive Officer and Chairman of the Board of Directors of Groundstar stated: "Groundstar is very encouraged with Heritage's announcement of a major oil discovery. We and our partners at Qara Dagh anticipate targeting the similar reservoirs when the first well location has been determined."

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

FORWARD LOOKING STATEMENTS: All statements in this news release that are forward looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove accurate; actual results and future events could differ materially from those anticipated in such statements.

SOURCE: Groundstar Resources Limited

Groundstar Resources Limited Kam Fard President & CEO [phone] [e-mail] Groundstar Resources Limited Jason Krueger, CFA Investor Relations [phone] [e-mail]
Copyright (C) 2009 Marketwire. All rights reserved.


UPDATE 2-Heritage Oil says makes big Iraq find, shares soar
Wed May 6, 2009 4:18am EDT


* Says oil in place 2.3 to 4.2 billion barrels

* Says production could be 10,000-15,000 bpd by end-2009

* Share price jumps 21 pct (Adds further details, shares, CFO and analyst's comments

By Tom Bergin

LONDON, May 6 (Reuters) - British oil explorer Heritage Oil (HOIL.L) said on Wednesday it has discovered up to 4.2 billion barrels of oil in the Kurdish autonomous region of Iraq, sending its shares soaring 18 percent, despite doubts about the legality of Kurdish oil contracts.

Heritage said in a statement that its Miran West field could be producing 10,000 to 15,000 barrels of oil per day by the end of the year, with plans to truck out the oil until a connection to Iraq's export pipelines can be built.

Analysts roundly applauded the find and lifted their price targets for Heritage's shares.

"Today's news is transformational for Heritage," Richard Griffith, oil analyst at Evolution Securities said.

Evolution raised its target price for the shares to 800 pence from 500 pence.

The shares were up 21 percent at 486 pence at 0812 GMT.

Analysts at Credit Suisse reiterated their view that Heritage would be a logical acquisition for one of the Chinese state oil companies, which in recent years have been snapping up energy assets across the globe, to fuel China's economy.

However, the Iraqi government has described the contracts the Kurdish regional government signed with western companies as illegal.

Disputes between the regional government and Baghdad over revenue sharing have stalled oil projects in Kurdistan.

Kurdish oil must pass through the rest of Iraq to make its way to export markets. Kurdish demand is only a few thousand barrels a day and this is well satisfied by existing wells.

Heritage's chief financial officer, Paul Atherton, told Reuters in a telephone interview that he was confident a deal would be struck soon such that companies like Heritage could receive licences to move their crude out of the region and to connect up to the main export pipelines.

Atherton said Heritage would be able to fund the development of its Kurdish fields out of cash on its balance sheet and from cash flow from early production from the fields. (Editing by Greg Mahlich)

© Thomson Reuters 2009 All rights reserved

[dukezero]

[dukezero]

Der steigende Ölpreis wird Groundstar beflügeln!!

[dukezero]

[dukezero]

Steigt und steigt!

[dukezero]

[dukezero]

[dukezero]

Groundstar Syrian Exploration Blocks Returned to Ministry
Groundstar Resources Limited GSA
9/10/2009 8:30:10 AM
CALGARY, ALBERTA, Sep 10, 2009 (Marketwire via COMTEX News Network) --

Groundstar Resources Limited (TSX VENTURE:GSA) ("Groundstar") has received a request from the Ministry of Petroleum and Mineral Resources of the Syrian Arab Republic that Blocks XIV and XVI awarded to the Company on April 2008 be returned to the Ministry. Groundstar has agreed to the request. The two exploration blocks were selected by Groundstar from seven blocks offered in the Third Bid Round.

After the block awards, Groundstar collected and interpreted 4,600 kilometers of legacy 2D seismic data and related well information on and adjacent to the blocks. Several leads were identified on each block. These results were presented to a number of companies in order to secure a farm-in partner. Due to the large work program commitments required in a tight credit market and the underlying uncertainty in the global financial system, a farm-in partner could not be found.

All the exploration blocks awarded in the April 2008 Bid Round are expected to be re-tendered in the near future. Groundstar remains in good standing with the Ministry and will participate in upcoming bid rounds for exploration blocks and EOR projects.

Groundstar remains an active consortium member in the exploration, development and production of petroleum resources in the Qara Dagh Block in Federal Region of Kurdistan - Iraq, is participating in the drilling of a third well on its WEEM Block in Egypt, and has a carried interest for the drilling of the first two wells in the Takutu Basin of Guyana.

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in the Middle East, North Africa and Guyana.

SOURCE: Groundstar Resources Limited

Groundstar Resources Limited Kam Fard President [phone] Email: [e-mail] Groundstar Resources Limited Jason Krueger, CFA Investor Relations [phone] Email: [e-mail]
Copyright (C) 2009 Marketwire. All rights reserved.

[dukezero]

Groundstar Resources Limited

TSX VENTURE: GSA

Oct 07, 2009 09:16 ET
Groundstar Resources Limited: South Malak #1 Wildcat Still Drilling

CALGARY, ALBERTA--(Marketwire - Oct. 7, 2009) - Groundstar Resources Limited (TSX VENTURE:GSA) ("Groundstar" or the "Company") wishes to announce that the South Malak #1 well, currently drilling on the West Esh El Mellaha block in the Gulf of Suez, has encountered thicker than expected Miocene Rudeis and Nukhul sections. The well is at 9,760 feet in the Lower Nukhul, below the original total depth prognosis of 9,043 feet. It is now expected the well will be drilled to approximately 10,700 feet. The potential sandstone reservoirs of the pre-Miocene Matulla and Nubian have yet to be penetrated.

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in the Middle East, North Africa and South America.