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Genoil CEO Joins Uptick Newswire’s Stock Day Podcast to Discuss the Signing of a New Contract Representing Velikoye Oil Field
Genoil CEO Joins Uptick Newswire’s Stock Day Podcast to Discuss the Signing of a New Contract Representing Velikoye Oil Field.
About this update from Genoil Inc.
[{"type":"text","content":"Velikoye Oil Field is the Largest Russian Oil Field Discovery in the Last 20 Years and the Project is of Significant Interest to Numerous International Oil CompaniesPHOENIX, AZ / ACCESSWIRE / November 20, 2018 / Genoil Inc. (OTC PINK: GNOLF) is an independent exploration and production company that specializes in oil and gas drilling in the Caribbean, as well as heavy oil development. The CEO of Genoil, David K. Lifschultz, joined the Stock Day podcast to discuss the corporation"s signing of an additional contract to represent the Velikoye Oil Field on behalf of JSC PetroleumGas "AFB" to investors. Here are a few of the most notable highlights from today's podcast.To learn more about the growth of Genoil Inc., listen to the entire Stock Day Podcast interview here: https://upticknewswire.com/interview-ceo-david-lifschultz-of-genoil-inc-otcqb-gnolf-4/ During the interview, Lifschultz noted that Genoil has already begun discussions with several financing sources in Russia, as well as a few different interested oilfield services providers. Genoil will earn a fee for bringing this investment to AFB and anticipates closing the initial investment round in the next sixty days.AFB is an oil company holding both exploration licenses and production licenses for a total of 700 square kilometers. These licenses are estimated to contain 150 billion tons of oil and oil equivalent, and Genoil Inc. will spearhead the development of this project. Genoil is empowering private companies like AFB to finance the development of their oil fields, as well as a structure to make this possible for them. AFB is in an excellent position to take advantage of this financing plan.The magnitude of the discovery of a large oil field in the Astrakhan Region came to light several years ago. Interfax at that time quoted the lead geologist at AFB that the company estimated the field's reserves at 150 billion tons of oil equivalent and 40 billion cubic meters of natural gas, confirming that this is the largest oil field discovered in Russia in the last 20 years. The estimated capital requirements to develop Velikoye is approximately $5 billion USD, which will begin with further seismic work, assessment of wells, and initial production.President & C.O.O. Bruce Abbott stated, "The Velikoye Oil Field is one of the most important oil fields in Rus...