Continental, GeoPetro form joint venture

By OGJ editors
HOUSTON, Dec. 6 -- Continental Energy Corp., Dallas, and GeoPetro Resources Co., San Francisco, have formed an equally shared joint venture company, CG Xploration Inc., to seek exploration and production projects in Indonesia, with special interest in East Kalimantan.

The companies recently sold for $6 million a 10% interest in the 2.4 million acre Yapen Block in West Papua and have worked for 8 years in the Bengara-II production sharing contract area (OGJ Online, Oct. 28, 2005).