Projects

Czech Operations Overview

GB Energy has an interest in seven gas and oil licences in northern Moravia, the licences are adjacent to pipeline, rail and trucking facilities. Several leads have been identified. Existing data is being used to build a project model to assist with decisions on seismic reprocessing and acquisition to assist with an exploration well decision.

The Salas licence is a single larger (150 sq km) in southern Moravia in a region with oil and gas exploration and production. Salas data from previous exploration is being acquired and reviewed to develop an exploration program.

» See Czech Operations for further information.

Slovak Operations Overview

GB Energy has acquired three licences to explore for Uranium. A fourth is likely to be granted. An exploration program is being developed. Slovakia has a history of Uranium mining but little reliable data exists. Mining ceased in the 1990s for economic and political reasons. This is an early stage project with significant leverage given GB Energy’s entry point.

» See Slovak Operations for further information.

West Africa Operations Overview

GB Energy is working with Dr Karamo Sonko and in the past eighteen months has carried out extensive review of oil and gas opportunities onshore and offshore West Africa. Developing and understanding the cultural and political environment together with the regions exploration potential is fundamental to acceptance and success in the region. With Dr Sonko GB Energy is continuing to review opportunities in West Africa.

ASEC Marine Renewable

GBX has entered into a funding and subscription agreement to earn up to a 50% shareholder interest in Australian Sustainable Energy Corporation Pty Ltd (ASEC) by sole funding design and construction to a maximum of AUD$2.1M. GBX can withdraw from the agreement following the Stage 1 prototype construction expenditure of AUD $140,000.

The novel renewable energy technology is at an early stage of development, however the scope of the technology has the potential to provide significant, consistent, and low cost energy from the oceans of the world.

» See ASEC Marine Renewable for further information.

New Ventures

GB Energy has an active mandate to seek new venture opportunities in the energy sector. Opportunities in diverse range of energy options are being investigated.

The Company has identified Europe, West Africa and Australia as key focus areas for new ventures. These regions have been selected based on technical screening, proximity to existing Company assets and the regional expertise within the Company.

Over the past 18 months GB Energy has reviewed several exploration and development new venture projects as well as corporate acquisitions and opportunities in emerging new energy technologies. The Salas Licence acquisition was one outcome of these activities. Other projects are presently under evaluation and will hopefully lead to additions in the Company’s portfolio.