Geoglobal Resources Inc. Form 8-K
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities
Exchange
Act of 1934 (the "Act")
June
21, 2006
(Date
of earliest event reported)
GEOGLOBAL
RESOURCES INC.
(Exact
name of Registrant as specified in its Charter)
|
Delaware
(State
or other jurisdiction of
incorporation
or organization)
|
1-32158
(Commission
File
Number)
|
33-0464753
(I.R.S.
Employer
Identification
No.)
|
310,
605 - 1St
Street S.W.
Calgary,
Alberta, Canada T2P 3S9
(Address
of principal executive offices)
Telephone
Number (403) 777-9250
(Registrant's
telephone number, including area code)
|
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any
of the following provisions:
|
|
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
(Former
name or address, if changed since last report)
Item
7.01. Regulation FD Disclosure.
On
July
21, 2006 we issued a press release announcing that our KG#15 well located
on the
KG Block off the eastern coast of India had commenced drilling. We have
a net 5%
carried interest in the production sharing contract on that Block. In
addition,
we announced that the Company entered into a Memorandum of Understanding
("MOU")
relating to exploration block CB-ON/2. Under a previous agreement, Gujarat
State
Petroleum Corporation ("GSPC") assigned a 20% PI to GeoGlobal subject
to
Government of India ("GOI") consent. GSPC and the Company are currently
awaiting
GOI consent to this assignment. Under the terms of a previous agreement
with
GSPC, the Company is to fund its 20% PI share of all past exploration
costs
incurred on the Tarapur Block and keep in force a Financial and Performance
Guarantee in an amount sufficient to secure its performance under the
Tarapur
PSC. Also under the terms of the previous agreement, in the event such
consent
from the Government is not obtained, the assignment would be terminated.
Pursuant to the MOU, in the event that the GOI does not consent to the
Tarapur
assignment, GSPC is obligated to repay to the Company all amounts paid
by the
Company to GSPC with respect to the Tarapur Block. GSPC is to repay such
amounts
to the Company within 30 days of a written notice from the Company. A
copy of
the press release is attached hereto as Exhibit 99.1.
The
information disclosed in this Item 7.01 and the related exhibit are being
furnished solely to comply with Regulation FD and are not considered
to be
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), and are not subject to the liabilities of that
section unless we specifically incorporate it by reference in a document
filed
under the Securities Act of 1933 or the Exchange Act. By filing this
Current
Report on Form 8-K and furnishing this information, we make no admission
as to
the materiality of any information in this Current Report on Form
8-K.
Item
9.01. Financial Statements and Exhibits.
(a) Financial
statements of business acquired.
Not
applicable
(b) Pro
forma
financial information
Not
applicable
(c) Exhibits:
SIGNATURES
Pursuant
to the requirement of the Securities Exchange Act of 1934, the Registrant
has
duly caused this Report to be signed on its behalf by the undersigned
thereunto
duly authorized.
Dated:
July 24, 2006
GEOGLOBAL
RESOURCES INC.
(Registrant)
/s/
Allan J. Kent
Allan
J.
Kent
Executive
VP & CFO