Gold gets approval to explore for oil, gas.Gold Oil PLC saw its biggest gain in 10 months in late June, after the British company announced that Cuba's National Office of Mineral Resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature had given it permission to explore for oil and gas. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bloomberg News Service, Gold Oil got the green light to run exploration wells "both onshore and in the territorial waters territorial waters: see waters, territorial. territorial waters Waters under the sovereign jurisdiction of a nation or state, including both marginal sea and inland waters. offshore up to a depth of 100 meters." Following the announcement, Gold Oil's shares rose by 21% to 7.20 pence--valuing the company at just under $67 million. Gold will now begin negotiations with state-run Cubapetroleo for a production-sharing contract, over a number of "targeted blocks" which have been identified by Gold and its Irish joint-venture partner, Minmet PLC. Gold, which owns a 24.67% stake in Minmet, says the Cuba deal is "a very important step" for the Gold-Minmet strategic partnership. "It is getting increasingly difficult for smaller-sized oil and gas players to qualify for operatorship for any oil and gas exploration and development projects, and this achievement gives both Gold and Minmet a considerable advantage in securing identified highly prospective acreage," said Gold CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gary Moore For the former TV host, see . Gary Moore (born Robert William Gary Moore, 4 April 1952, in Belfast, Northern Ireland) is a Northern Irish guitarist. In a career dating back to the 1960s he has played with bands/artists including Thin Lizzy, Colosseum II, Greg Lake and . Details: Gary Moore, CEO, Gold Oil PLC, Sandy Lane, Kingswood, Surrey KT20 6ND, England. Tel: +44 1737 833597. Fax: +44 1737 830133. Email: gmoore@goldoilplc.com. |
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