Genesis Petroleum Corporation PLC

Formerly known as Zari Resources PLC, the company's principal activity is making investments in the mining and minerals sector.


Stock price 10 Feb 06 1.70
Recent stock performance
1 week 83.8%
4 weeks 94.3%
13 weeks 51.1%
52 weeks -56.1%

Yes, well I spent 2 pennies :>)

Bit of a rise today :)


GENESIS PETROLEUM CORPORATION PLC

Agreement to access seismic data

Genesis Petroleum Corporation Plc ('Genesis' or 'the Company') entered into
an agreement, on 16 February 2006, with one of the world's leading offshore
seismic data providers, to access modern offshore 3D seismic data from a data
library of approximately 150,000 square kilometres covering proven
hydrocarbon basins offshore Norway, Denmark, Netherlands, Germany and the UK.

Seismic data is the primary tool used by oil and gas companies in the search for
hydrocarbons. 3D seismic data can be interpreted to generate a three-dimensional
model of the earth's sub-surface which is then used to determine the likelihood
of oil and gas deposits and the optimum drilling location for their
exploitation.

The Company believes that access to the data on the terms agreed and review by
Genesis technical staff will give it a significant advantage exploring for oil
and gas in the region. Genesis believes that its technical review of data over
specific areas, at minimal initial cost, will enable it to be technically more
objective and focused in its selection of, and application for, offshore acreage
in the region. The Company also believes the agreement will allow it to have
better informed discussions with other oil companies about potential joint
ventures and farm-in arrangements, without the usual expense of acquiring
seismic data.

Speaking for Genesis, Gerry Harrison (CEO) said:

'This Agreement complements our existing agreement with another seismic data
provider which covers 50,000 square kilometres of mainly internationally located
seismic data and provides Genesis with access to a total data base of 200,000
square kilometres of 3D seismic. The data provides the Company with a fantastic
regional perspective which allows us to be very selective about taking acreage
positions and developing farm-in opportunities. We intend to apply for offshore
acreage only where we already have an informed view of its prospectivity based
on the latest 3D technology. This reduces the exploration risk.

In addition, this agreement gives us the dual advantage of both reduced cost as
we only incur significant fees when we win acreage as well as a reduced time to
drilling since a significant amount of the technical work will have already been
done. We have already demonstrated the benefits of this type of agreement by
winning five Blocks in the North Sea and forming partnerships with Lundin
Petroleum and ConocoPhillips. This latest agreement allows us further
opportunity to selectively win good acreage and form strong partnerships.'

20 February 2006

For further information, please contact:

Genesis Petroleum Corporation Plc:
Gerry Harrison, CEO
gharrison@genesis-petroleum.com
+44(0)1959 567456

www.genesis-petroleum.com

Chocolat

Thanks for bringing this one to our attention! I'm in with a penny!. I particularly like the 'evaluating opportunities......to farm into acreage onshore in the Middle East and former Soviet Union; the latter has a lot to give I think.
Kim

Found a few more pennies.............

So did I amberj - they didn't half make a racket in the washing machine this morning. Mind you, it makes a change from the cat.

Tumble dried the cat once, wasn't a happy moggy. It was the thump, thump, thump that gave it away, bit like a hamster on a wheel, except she kept falling off at the top, hence the thumps!

Big drop so far 2day. Any reason for this?

Times online

Rumour of the day


Genesis Petroleum, the oil and gas explorer created from last years reverse takeover of Zari Resources, rose p to 338p on AIM as last weeks hiring of Jefferies as adviser and stockbroker fuelled talk of imminent activity. Genesis, which has offshore assets in West Africa and Brazil, is expected to seek deals to accelerate the development of its North Sea portfolio.

blimey!!! 338p???? someone's buying the drinks then ;)

Someone's already had far too many!!

Up about 30% this morning - any more news??

Couldnt decide last week whether to pop out or stay in so just popped out for bit :>) Found a few pounds for this next trip.

Now wonder if rabbits will work as well as your cats only I should be able to get a lot more of them in. Next time I leave them out in the rain I'll maybe try it!

Huge 15% jump in SP today and as usual can't find reason - any thoughts?

another shafting for shareholders!!!

what sort of crappy broker does this company have ,

whats is it , 50% discount to current price in the placing?

on the way this morning.

on the move up today

Has anyone got any news as the SP has been heading south ever since the consolidation and I am beginning to think my confidence in their business plan may have been misplaced. Rather worrying as their licences appear to be well placed and they have good partners.

Where is the bottom line on this one. 15p is equivelent to 0.5p pre consolidation on the SP. 0.5p was never realized when company was Zari Resourses. If this goes sub 10p I will definately have a tickle.

Morning All
Up a little this morning wonder if some news maybe due or a big buy

Keith

This is going up nice.