http://www.granbyoil.com/





* Granby, established in 2002, is one of the leading new generation UK North Sea exploration businesses
* Granby has developed a highly attractive UK North Sea exploration portfolio with net prospective resources of 281 mmbbl (risked net prospects of 59 mmbbl)
* The first exploration well on the Marquis prospect in block 21/6b is due to be drilled in late June to early July 2005
* In addition, the company is in the process of finalising negotiations for access to a potential offshore oil field development in the Philippines
* The combined management team includes five former executives with a broad range of skills each with over 20 years experience in the oil industry, principally with Enterprise Oil plc
* Granby has a track record of identifying exploration prospects and creating development solutions as well as having the commercial skills required to farm out and conclude innovative commercial deals
* Granby has recently submitted licence applications in the 23rd Round

RNS's from GOIL can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=goil&go.x=15&go.y=9

MMs flushing out some shares this morning. Small buys pushing price down looks like MMs need stock after the buying of the last few days.

syd443s

good find, nice to see some proper information being posted on the bulletin board instead of all the personal drivel for a change...

i am considering adding, but would prefer a lower price so may wait a day or two...

North Sea licences to be announced

MoneyAm:

The government will tomorrow award more than 150 North Sea oil exploration licences, the largest number in more than four decades.

The Financial Times reports that the results of the 23rd licensing round, to be announced by energy minister Malcolm Wicks, will not be finalised until this afternoon.

'This is still a very active market,' Wicks told the FT. 'The North Sea is still tremendously important and will be for several decades to come.'

More than 20 of the companies granted licences are new to the UK continental shelf, it added.

That is in part the result of government efforts to attract so-called 'scavengers', which can profitably exploit smaller fields left behind by the larger oil companies.

The surge in demand comes in spite of UK production being in decline. Depending on the estimates, between half and three-quarters of the resources in the ground have already been extracted. The remaining oil and gas fields are far smaller and more difficult to exploit, though extraction technologies have improved.

http://www.og.dti.gov.uk/upstream/licensing/23_rnd/marks_by_block.xls

Wednesday 7 September 2005

Granby Oil and Gas plc

("Granby" or "the Company" or "the Group")

Granby Successful in North Sea Licensing Round

Granby Oil and Gas plc is pleased to announce that it has been offered 12 additional blocks and part blocks to be held under six licences in the North Sea as part of the 23rd UKCS Licensing Round announced by the DTI. Granby received one of the highest number (11) of operated blocks for an independent company.

This award takes Granby's acreage position in the North Sea to 22 blocks and part blocks in total, and has significantly strengthened the company's presence in its existing core area in the central North Sea, and brings the company into the Southern Gas and Firth of Forth basins for the first time. A number of the blocks offered are adjoining Granby's existing licences, where cross boundary prospects had previously been mapped.

Granby has been offered one traditional licence with a seismic work programme, and five promote licences with work programmes including reprocessing and re-evaluations of pre-existing datasets. The geophysical company TGS-NOPEC is a partner with Granby in a number of the promote licence awards. Faroe Petroleum plc (as operator) is also a partner with Granby in one of the awards.

The offered blocks and initial interests are as follows:


Block Numbers Licence Type Granby Initial Partners
Interest



14/8 (part); 14 Traditional 100% (operator) n/a


/9 (part)
13/25 Promote 50% Faroe Petroleum plc
50% (operator)



26/4 (part); 26 Promote 66.67% (operator) TGS-NOPEC 33.33%


/5; 26/9; 26/10 (part); 27/1 (part); 27/6 (part
42/28c Promote 66.67% (operator) TGS-NOPEC 33.33%



43/7 Promote 66.67% (operator) TGS-NOPEC 33.33%



44/27b Promote 66.67% (operator) TGS-NOPEC 33.33%


Applications for blocks 13/25, 14/9, 43/7 and 44/27b are covered by an existing Acquisition and Alliance Deed, under which Elixir Petroleum Ltd has the option to be assigned one half of Granby's interest in these blocks.

Commenting on these awards, Managing Director David Grassick said:

"These awards enable Granby to continue its successful strategy of building a significant portfolio of assets through the discovery and exploitation of oil and gas reserves in the North Sea. The new plays and prospects in this acreage have increased the value and diversity of our portfolio significantly."

Executive Director Richard Moreton added:

"We are very pleased with these awards which enhance Granby's presence in the Central North Sea and add a number of exciting new prospects to the company's inventory. We look forward to working with our new partners, TGS-NOPEC in the Southern Gas Basin, and with Faroe Petroleum in the Central North Sea."

Martin Whitehead, Exploration Director of Granby Oil and Gas, said:

"This is an excellent result for Granby's exploration team, in a very competitive licensing round. We are pleased to have been offered so many blocks with only modest work obligations, demonstrating the quality of our technical work for the applications."

Jump today,is it to do with Hendrix drilling,any views.

Proactiveinvestors.com have written an in depth article on GOIL, CLICK HERE