Manufacturing Industry

GRANBY OIL AND GAS PLC - Galoc Farm in Completed.

PR Newswire UK Disclose, August, 2005

 
Granby Oil and Gas plc 
 
("Granby" or "the Company" or "the Group") 
 
Galoc Farm-in Completed 
 
Following Granby's recent announcement confirming approval by the Philippines 
Department of Energy of the farm-in to the Galoc oil field located in the 
Palawan Basin, offshore Philippines, Granby is pleased to confirm that the 
transaction has now been completed by its wholly owned subsidiary Team Oil Ltd. 
 
Granby's interests are held in a joint venture company, the Galoc Production 
Company W.L.L. ("GPC"), which has been established to finance and develop the 
Galoc field. The other shareholders in GPC are Cape Energy SA and Vitol 
Holdings SARL. Granby's costs for the initial development are financed by GPC 
which is underwritten by Vitol. Granby (via Team Oil Ltd) has a...

            
        
    
    	    
                
                
	
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