Syria

Groundstar Resources Ltd., Calgary, agreed to a request from Syria’s Ministry of Petroleum & Mineral Resources to return blocks XIV and XVI awarded to Groundstar in April 2008.

By OGJ editors
HOUSTON, Sept. 10
– Groundstar Resources Ltd., Calgary, agreed to a request from Syria’s Ministry of Petroleum & Mineral Resources to return blocks XIV and XVI awarded to Groundstar in April 2008.

Groundstar collected and interpreted 4,600 line-km of legacy 2D seismic and related well information on and adjacent to the blocks and identified several leads but was unable to secure a partner due to a large work program in a tight credit market with global financial uncertainty.

Groundstar said it remains in good standing with the ministry and will participate in upcoming bid rounds for exploration blocks and enhanced oil recovery projects.

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