GeoGlobal Announces Award of Oil & Gas Licenses in Israel

GeoGlobal Resources Inc. (NYSE Amex:GGR) announced that the Israel Ministry of National Infrastructure has approved the transfer and registration to a consortium, in which GeoGlobal has a 5% participating interest and has been designated as Operator, of two deepwater offshore licenses known as 347 “Mira” and 348 “Sara”.

The press release is quoted as saying:

The “Mira” and “Sara” licenses are located in the Lavantine Basin which is located approximately 25 miles off the western coast of Israel in the Mediterranean Sea in waters approximately 1,400 meters deep. The Sara license covers an area of approximately 404 square kilometers (156 square miles) and the Mira license covers an area of approximately 396 square kilometers (153 square miles).

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