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In addition, the expiration dates of Company's outstanding Compensation Units and the related warrants issuable on exercise of the Compensation Units were both extended to June 20, 2011.
The outstanding Compensation Units and the common stock purchase warrants issued in September 2005 contain Compensation Units exercisable at US$6.50 per Compensation Unit and the common stock purchase warrants exercisable at US$9.00 per share. On exercise of the Compensation Units, an aggregate of 195,144 common shares and 97,572 warrants are issuable.
The outstanding Compensation Units issued in September 2007 contain Compensation Units exercisable at US$5.00 per Compensation Unit. On exercise of the Compensation Units an aggregate of 340,800 common shares are issuable.
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 primarily in the pursuit of petroleum and natural gas through exploration and development in India. Since inception, the Company's efforts have been devoted to the pursuit of Production Sharing Contracts with the Government of India. Currently, the Company is focused on the development of high potential exploration targets in the Krishna Godavari, Cambay, Rajasthan and the Deccan Syneclise basin areas.
Forward Looking Statements
Some statements in this press release may contain forward looking information. These statements may address future events and conditions and, as such, could involve inherent risks and uncertainties. Our actual results of oil and gas exploration and development activities could be significantly different from any results anticipated. Our exploration and development activities involve highly speculative exploration opportunities that involve material risks. Additional important risk factors are described in the Company's periodic filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K and quarterly reports on Form 10-Q. The filings may be viewed at http://www.sec.gov. and www.sedar.com.
SOURCE: GEOGLOBAL RESOURCES INC.
GeoGlobal Resources Inc. Allan J. Kent Executive VP and CFO (403) 777-9253 (403) 777-9199 (FAX) GeoGlobal Resources Inc. Carla Boland Investor Relations and Corporate Affairs (403) 777-9253 (403) 777-9199 (FAX) Email: info@geoglobal.com Website: www.geoglobal.com The Equicom Group Ashleigh Meyer Account Executive (416) 815-0700 x266 (416) 815-0080 (FAX) Email: ameyer@equicomgroup.com
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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