10/7/2005
Knowledge Reservoir and Concessions International Launch Undeveloped Petroleum Discoveries Asian Study Group
Houston, October 3rd, 2005 --- Knowledge Reservoir, LP in conjunction with Concessions International, Ltd will be forming a study group to identify upstream undeveloped discovery opportunities in Asia.
Particular emphasis will be to use our advanced technology and proprietary data to evaluate the commercial potential of thousands undeveloped oil & gas discoveries we have identified in this region. Some of the discoveries have minimum recoverable reserves of over 100 MMBO.
Study group participants will have an exclusive opportunity to participate in a bidding consortium for an "out of round" application on the most prolific undeveloped discoveries identified by the group. In addition this consortium will give smaller independents the ability to participate in upstream projects in these countries where they would not qualify individually for a concession. The study will also identify and evaluate all of the acquisition and farm-in situations in Asia.
Dr. Ivor Ellul, CEO of Knowledge Reservoir said "The timing to launch a study group of this nature is ideal given the focused quest by the industry for sustainability.”
“We have considerable experience in launching initiatives of this nature and look forward to a highly successful project.” said William Divine, President of Concessions International.
The project will kick off with a presentation to be held at 9:00 am, Friday, October 21st at the Petroleum Club of Houston. Interested participants may sign up for this presentation at http://www.knowledge-reservoir.com/asiastudygroup/index.htm
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Knowledge Reservoir, L.P. is a global energy consulting firm based in Houston, Aberdeen, and London. Knowledge Reservoir provides Subsurface Asset Consulting services, Production Solutions and Knowledge Management products and services to companies and organizations around the world.
Concessions International Ltd. is a Houston-based company that provides services for data acquisition, evaluation, and prospects generation. Over the past 25 years, they have developed a significant track record bringing parties together to form bidding groups, and extensive experience on forming joint venture with national oil companies and private investment groups.
