Archive for June, 2010

Orca Exploration announced the new nomination to its Board of Directors

Thursday, June 24th, 2010

British Virgin Islands-registered Orca Exploration Group Inc., focused on natural gas exploration, production, development and marketing, announced that Beer van Straten has agreed to stand as a nominee for election to the BVI company’s Board of Directors at the meeting of shareholders which will be held on June 23, 2010.

A Dutch citizen Beer van Straten is a senior international oil and gas industry executive with exploration, production and commercial experience in the North Sea, Middle East and Africa. Beer van Straten joined Shell company in 1988, and advanced to become the Deputy Head of Development Drilling in Oman by 1998. In 1999, he became Wintershall’s Drilling and Production Manager for Libya. In 2002, he returned to Shell.

BVI company operating in Kyrgyzstan issued operational statement

Friday, June 18th, 2010

Chaarat Gold, an exploration and development company operating in the Kyrgyz Republic, made an announcement for investors saying that the unrest in the south regions of the country did not affect company’s operations at Bishkek and in the north-west of Kyrgyzstan.

Chaarat gold project is situated in the Middle Tien Shan Mountains in the northern regions of Kyrgyzstan. The company has reported good progress at its Chaarat Gold project in recent months, with the completion of preliminary feasibility study in May and the renewal of the exploration license agreement on June 1.

According to company’s information, there had been no interruptions of its operations earlier this year. Also the previous revolution in Kyrgyzstan, which happened in 2005, did not cause the revision of government’s policy towards foreign investments and companies operating in the country.

Current exploration license of the project will run until 31 December 2012. The Ministry of Natural Resources of the Kyrgyz Republic had confirmed that all Chaarat’s obligations under the licence agreement had been fulfilled.

In May, the company reported the findings of the preliminary feasibility study at its Chaarat project. The preliminary feasibility study was focused on the Tulkubash zone of the Chaarat project.

China Gengsheng secured US$4.6 mln valued contract from CNPC

Saturday, June 12th, 2010

China GengSheng Minerals, Inc., a leading China-based high-tech industrial materials manufacturer, conducting its business through British Virgin Islands-registered GengSheng International Corporation and its Chinese subsidiaries, announced that it has secured a contract for fracture proppant products with China National Petroleum Corporation. CNPC is China’s largest oil and gas producer and supplier, and one of the world’s major oilfield service providers, with a presence in almost 70 countries.

Under this contract, which has total value approximately US$4.6 mln, products shipments and revenue recognition are expected to be started in the second quarter of 2010 and continue through the next twelve months.

GengSheng’s Chairman and CEO Mr. Shunqing Zhang named this contract an “important milestone to establishing long lasting business relationships with State-Owned Enterprises in the oil and gas sector”.
He said that the company expects the demand for its fracture proppant products to continue to grow during the second half of the year, and that they are working to increase their manufacturing capacity.

BVI-registered Windworks Engineering receives order from Singapore company

Tuesday, June 8th, 2010

Windworks Engineering Inc., a British Virgin Islands-incorporated company engaged in the development of wind turbine technology, received a letter of intent from Singapore-based Worldwide Property ltd, for the purchase of 100 units WW5000 SWTs, to be installed in Singapore company’s Resort properties in Australia and in Bali. The value of the order is more than 2,5 million Euros.

An important part of the order is the deployment of a prototype unit within the next three months on Worldwide’s property to improve the finish of the serial units and adapt it to the specifications. Also, the BVI company has become an exclusive supplier of Wind Turbines to Worldwide Property for a period of 5 years.