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Major Oil and Gas E&P Interest Acquired by Key Capital

http://www.geoglobalresources.com/media/KCPC-GGRLpr09122014.pdf

MAJOR OIL AND GAS E&P INTEREST ACQUIRED BY KEY CAPITAL

● Offshore gas production commences in major KG Indian Oil and Gas Block

● Onshore oil production in four fields in Cambay Basin with billion barrel plus potential 

SCOTTSDALE, ARIZONA, September 12, 2014 – KEY CAPITAL CORPORATION (OTC Pink: KCPC) and GEOGLOBAL 

RESOURCES INC ("GeoGlobal") (OTC Pink: GGLR) jointly advise that the relationship between the respective companies has 

been formalized whereby Key Capital has obtained a 65% interest in GeoGlobal, and Key Capital Directors Donald Benard and 

Peter Boonen, along with former UBS banker Christoph Wyder, have joined the GeoGlobal Board. 

Despite its world class assets, GeoGlobal has experienced serious difficulties, especially over the last two years. In the past five 

months, Key Capital"s expert legal, accounting, project, and analytical executives have worked closely with GeoGlobal to address 

the prevailing issues in order to avoid a seemingly inevitable total corporate demise, despite its underlying assets value. As a result 

of an intensive collaboration over this period with GeoGlobal Executive Chairman and President Jean Paul Roy, the company"s 

Indian office executives and legal counsel, and the Key Capital executives, GeoGlobal"s position is rapidly stabilizing. GeoGlobal 

now seeks to re-positon itself as a significant emergent Oil & Gas Exploration and Production ("E&P") company.

GeoGlobal"s core value E&P assets are the following:

A 10% (5% net) interest in the offshore Krishna Godavari Block ("KG"). Following expenditure of over US$2.8 billion 

by the partners to date, early pre-production of gas commenced last month at a reported 15MMcf per day with production 

expected to scale up to over 200MMcf within 3-4 years. In late 2009, when gas pricing economics was Management 

Committee approved at US$5.60 per MMBtu, the Gujarat State Petroleum Corporation Limited ("GSPC"), promoted by the 

State Government of Gujarat, and the field"s 80% partner and operator was reported to be selling down a 5% interest to 

Indian Banks and institutions for US$225 million. Final gas pricing per MMBtu is expected to exceed the economic pricing.

The KG Block of some 530.5 sq km is on the east coast of the state of Andhra Pradesh in South Eastern India in the 

Krishna-Godavari Basin, of which only 17 sq km in Deen Dayal West, and a 20.5 sq km area extension is under 

development, with gas production commenced from the field through submarine pipe into a major Indian distribution grid. 

The Krishna-Godavari Basin is credited with many of India"s recent significant oil and gas discoveries, and the KG Block 

holds promise for further discovery by GeoGlobal and its partners of significant oil condensate and gas within the greater 

Block area. 

GeoGlobal has a 10% (5% net) Interest in the KG Block to be carried through to production. AIM listed Jubilant Energy 

holds a 10% Participating Interest, and GSPC, the Operator, holds the balance Participating Interest. To date, the 

consortium has drilled 13 exploratory wells (nine of which were successful discoveries), five appraisal wells and three 

completed development wells in the block.

Gaffney, Cline & Associates audited the Reserves & Resources for the Deen Dayal structural complex, and as of 31 May 

2012, the gross 2P reserves of Gas and Condensates in Deen Dayal West have DOC approved 1,015 Bcf and 32.2 

MMbbls, respectively. The GeoGlobal gross share of this phase is 101.5 Bcf for the current assessed recoverable gas.

Additionally, 2C contingent resources of 3,693 Bcf of gas and 100 MMbbls of condensates are considered under the 

original development of the DDW and DDW extension areas. Only two to three wells are being put into initial production, 

and subsequently, an additional 12 production wells will be completed in the Deen Dayal West area. 

The Declaration of Commerciality by the Indian Ministry of Petroleum and Natural Gas for six of the discovery wells (KG-

16, KG-22, KG-31, KG-21, KG-19 and KG-20SS) in Block KG-OSN-2001/3 has considered 2C contingent resources to be 

3,684 Bcf. A further 10 appraisal wells are proposed to be drilled to assess the potential of this resource in these areas.

Four Significant Blocks in the Cambay Basin – where in each case GSPC is the Operator and wherein production is 

commencing and to be expanded. These GeoGlobal partnered operations are within driving distance of Ahmadabad, and 

the region has road and rail access and all necessary infrastructure to support oil and gas project operations. 

For Immediate Release www.keycapitalgroup.com September 12, 2014Tarapur 1: GeoGlobal has a 14% Participating interest in this smaller Tarapur Block of 2,397 acres which currently has 

1P and 2P Net Reserves of 3.15 MMBOE (million barrels of oil equivalent), and it is a portion of an estimated gross OOIP 

(original oil in place) of 50 MMbbl. This Tarapur Block which is now in production from six discovery wells is forecast to 

generate over US$230 million in revenue over just the next eight years following start up production of the remaining eight 

(Tarapur #6 and A1 to A7) appraisal wells (based on oil at US$90 per barrel). 

Tarapur 2: GeoGlobal has a 20% Participating interest in the much larger highly prospective Tarapur RF (Ring Fence) 

Block of 297,515 acres. A recent engineering report estimated a target resource of between 1,000 MMboe and 4,000 

MMboe prospective resource for the Tarapur RF Block.

Sanand/Miroli Block - GeoGlobal entered into this agreement in February 2004 under NELP-IV, which grants exploration 

rights in an area onshore in the Cambay Basin. GSPC is the Operator of this block and GeoGlobal has a 10% 

participating interest under this agreement. Of the discovery wells, three are production ready with some oil production

commenced on the Miroli Block this year.

Ankleshwar Block - GeoGlobal entered into this agreement in September 2005 under NELP-V, which grants exploration 

rights in an area onshore in the Cambay Basin. GSPC is the Operator of this block and GeoGlobal has a 10% 

participating interest under this agreement. Of three discovery wells drilled to date, Ank-21 commenced oil and gas 

production in July, 2014. 

Other Interests Include:

India: Deccan Syneclise Basin - GeoGlobal entered into this agreement in March 2007 under NELP-VI, which grants 

exploration rights in the DS 04 Block in an area onshore in the Deccan Syneclise Basin located in the northern portion of 

the State of Maharashtra in west central India. GeoGlobal is the Operator of this block and has a 100% participating 

interest under this agreement. GeoGlobal proposes to commence a 10 well drilling program on this Block during the 

course of the next 12 months.

Also in India, GeoGlobal is in Arbitration with OIL India Limited with regard to costs claimed by OIL India Limited that are 

vigorously disputed by the Company and in which proceeding GeoGlobal has filed its response, counterclaim and notice for 

damages with respect to three Indian licenses. The Company expects to be able to separately release further detail 

regarding this matter in the near term.

Israel: GeoGlobal currently has a 5% interest in two offshore blocks, Myra and Sara, in the Leviathan gas field of the

Levantine Basin 70 km from the coast of Israel which were awarded in July 2008 and following an extension are current 

until July 2015. A new circa US$100 million well is proposed to be funded and spudded over the next 10 months. Each 

block is 400 sq km, and water depth is 1335 meters. A 3D seismic survey covering 1360 sq km was conducted in 2009. In 

2012, Myra-1 / ST-1 and Sara-1 were drilled back to back in a total depth of 4,065 meters for Tamar / Leviathan sands 

and good sandstone reservoirs were found with Myra-ST1 being wet – no seal / trap, and Sara-1 wet – down-dip from 

Dalit-1 gas; fault seal failure.

Colombia: GeoGlobal has an entitlement to a 10% carried interest, and potentially a right to a further 40% working 

interest, in the highly promising Putumayo Blocks 6 and 7 in Colombia, totaling 708 sq km. GeoGlobal"s partner has 

purported to terminate GeoGlobal"s entitlement and rights which is vigorously disputed and is in process of being pursued.

As has been previously announced, Key Capital is still to raise a total of US$15 million to financially shore up GeoGlobal and is 

working with related party, Red Rock Assets LLC to raise funding through the www.redrockassets.com lending platform where 

lenders are offered a 7.5% base interest together with a share in project profits. All loan funds through Red Rock assets are

supported by a Capital Safeguard provided by the Company. Key Capital and GeoGlobal will also be presenting a business case to 

a number of industry parties.

The www.redrockassets.com online Social Lending, or Debt Crowdfunding platform, is an attractive alternative for investors 

seeking interest rates superior to those offered through banks. The GeoGlobal loan opportunity is a classic example of the 

opportunity to achieve returns in solid projects of a forecast 18% -20% annual return inclusive of profit share. Social Lending 

empowers lenders to select the parties to whom they lend at the varying rates of return offered. This funding initiative with Red 

Rock Assets will provide a much-needed avenue for the junior mining and energy market sectors to fund their production projects 

in a market where little support currently exists from traditional banking and/or equity lenders. In fact, for the first time ever, 

individual lenders will be able to participate directly in the lucrative lending to mining and energy projects that have historically been 

the domain of investment banks and institutions. 

For Immediate Release www.keycapitalgroup.com September 12, 2014Through www.redrockassets.com, lenders will have the opportunity to select the Key Capital mining or energy project loans in 

which they elect to participate. This social lending market will provide lenders and investors a base high-yield 7.5% per annum 

return as well as a pro-rata profit share participation from the projects to which they have respectively loaned funds. 

ABOUT KEY CAPITAL: Key Capital is a streaming, structured finance, and equity funder of mining projects that through its 

funding agreements with its client partners retains an interest in the production of mines containing gold, silver, or base metals, or 

in energy products. The Company is a Georgia corporation headquartered in Scottsdale, Arizona.

For further information: www.keycapitalgroup.com or Contact Chris Nichols, President/CEO at +1 (480) 745-2625, or 

info@keycapitalgroup.com

ABOUT GEOGLOBAL RESOURCES INC: GeoGlobal Resources Inc. is an emerging international oil and gas E&P company with 

interests in India, Israel and Colombia. Oil production has commenced in three of the Company"s interests in the onshore Cambay 

Basin, and gas production commenced last month from the major proven offshore Deen Dayal field in the Krishna-Godavari Basin 

where GeoGlobal"s partners have spent over US$2.8 billion on exploration and development to date. 

For further information: www.geoglobalresources.com or contact info@geoglobalresources.com

ABOUT RED ROCK ASSETS LLC: Red Rock Assets is launching the world"s first online Peer-to-Peer Lending Platform for the 

mining industry. Red Rock Assets will offer its Lending Members direct access to mine project loan opportunities that previously 

have been restricted to banks, financial institutions, and the well-connected. Red Rock Assets empowers its Lending Members to 

direct their loan funds to mining or energy projects that offer a 7.5% interest per annum plus a pro-rata profit share interest from the 

projects in which they respectively participate.

For further information: www.redrockassets.com or contact: Matthew Freedman, President/CEO +1 (480) 426-9228, or 

info@redrockassts.com

Qualified Person"s – Consent for Release

Jean Paul Roy has a BSc in Geology and is a certified Geophysicist. He has over 30 years of experience in the Oil and Gas 

Exploration, Discovery, Development and Production industry. He has reviewed and approved the technical information contained in 

the announcement pursuant to reporting guidance for mining and oil and gas companies.

Disclaimer

Statements made in this press release that express the Company or management"s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words 

"believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these 

identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company"s actual activities, 

results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results, levels of activity, performance or 

achievements and investors should not place undue reliance on the Company"s forward-looking statements.

For Immediate Release www.keycapitalgroup.com September 12, 2014

Read more at http://www.stockhouse.com/companies/bullboard/...#SEgzobmfUzdR1xOv.99

 

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