May 14
Genesis Petroleum Corp. (GPC)

Genesis Petroleum Corporation Plc, was formerly known as Zari Resources plc. The company was founded in November 2003 with the primary purpose of exploring for petroleum and natural gas deposits starting with Brazil, West Africa and the North Sea. The initial business opportunity began with the issuance of a non-exclusive license that gave founding members access to the 3D seismic data in a region equal to 50,000 square kilometers in area.

Since the company’s inception, Genesis Petroleum Corp has developed a total of 13 explorations based on their initial database of seismic data. Of these explorations, only a select few have thus far been chosen for implementation. The first exploration project implemented was in the U.K. North Sea Project. Genesis was given a license in September 2004to Block 9/10c by the Department of Trade and Industry (DTI) of the U.K. government. The company has decided to undertake drilling at the exploration site. In September 2005, DTI awarded Genesis Petroleum Corp three more blocks in the North Sea.

The next of Genesis’ projects was the Offshore West Africa Project. A license had been applied for to explore in the shallows of these region. After this, Genesis sought to explore offshore in Brazil during the first part of 2006. Other opportunities being evaluated by the company include areas in the Middle East and Russia.

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