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May 07 – Granox President & CEO Navtej Kohli announces drilling to begin on Liechtenstein Project
May 13, 2007, Fürstentum Liechtenstein - Granox Explorations President and CEO Navtej Kohli reports that drill permits have been received regarding the exploration program at the company's Liechtenstein property, in Eastern Russia. The program entitles the company to drill at Liechtenstein oil field sites with one to five drill holes per site.
In a phone interview, Kohli said that he was very excited about the prospects of drilling in a region that has proven to be a consistent oil producer in the past.
“Working from new geological data, we will be drilling deeper than any of the other existing wells in our search for pockets of oil,” said Kohli. “It has taken us a little longer than we expected to get our operations up and running, but with this new contract and oil holding above fifty dollars a barrel this could prove to be a very lucrative contract. I expect to turn a profit this year.”
Kohli noted his plans include a stopover to check out the progress on his way back to San Jose, Costa Rica next week.
About Granox Explorations - Granox Ltd is an independent oil and gas exploration company that is focused on acquiring, exploring and developing properties where we believe significant commercial reservoirs of oil and natural gas exist.
