Dr Kr­ish­na Per­sad has been ap­point­ed as vice-pres­i­dent of the Caribbean Re­gion for a Cana­di­an com­pa­ny called Georox Re­sources, ac­cord­ing to a state­ment from the British Co­lum­bia com­pa­ny. The an­nounce­ment of Per­sad join­ing the com­pa­ny came last week, the day af­ter it was an­nounced that a sub­sidiary of Georox Re­sources, Gulf Cen­tral Lim­it­ed, was the suc­cess­ful bid­der in the re­cent com­pre­hen­sive bid for the North Ma­rine Block lo­cat­ed in the Gulf of Paria. Gulf Cen­tral Lim­it­ed, is a new com­pa­ny that is owned 80 per cent by Georox and 20 per cent by Car­bon Diox­ide Caribbean Hold­ings Ltd, ac­cord­ing to a Georox state­ment. CD­CH is a mem­ber of the Kr­ish­na Per­sad & As­so­ciates (KPA) Group. The KPA Group's founder & CEO, Dr Kr­ish­na Per­sad, has been en­gaged in oil and gas ex­plo­ration and pro­duc­tion, and in in­ten­sive re­search on the pe­tro­le­um ge­ol­o­gy, tec­ton­ic his­to­ry and pe­tro­le­um geo­chem­istry of the sur­round­ing Trinidad area for over 40 years.

The award of the NM Block is sub­ject to the ap­proval of the bid terms by the gov­ern­ment of Trinidad & To­ba­go. The North Ma­rine Block is lo­cat­ed in less than 30m of wa­ter and is ap­prox­i­mate­ly 205 sq km (50,000 acres) in size. Twen­ty two wells have been drilled in the NM Block be­tween 1955 and 1968 over the acreage on the pre­vi­ous­ly State owned Petrotrin op­er­at­ed prop­er­ty. A 3D seis­mic sur­vey cov­er­ing 454 sq km (cov­er­ing the en­tire NM Block) was ac­quired and processed in 2004. Nor­mal fault­ing is a com­mon fault style through­out the North Ma­rine Block. The clos­est fields to the North Ma­rine Block are Brighton (to the im­me­di­ate east), which has ac­cu­mu­lat­ed pro­duc­tion of 125 mil­lion bar­rels of oil, and the 3 Sol­da­do fields (to the south), which have ac­cu­mu­lat­ed pro­duc­tion of 775 mil­lion bar­rels of oil to-date and cur­rent­ly pro­duce over 20,000 bopd.

The Sol­da­do fields have ac­count­ed for a large per­cent­age of the Trinidad & To­ba­go oil pro­duc­tion to-date. Ac­cord­ing to the Georox state­ment, the com­pa­ny has grant­ed 250,000 op­tions to Dr Per­sad en­ti­tling him to pur­chase an ag­gre­gate 250,000 com­mon shares of the Com­pa­ny, pur­suant to the com­pa­ny's stock op­tion plan ap­proved by the share­hold­ers, at a price of CAN$0.22 per share for a pe­ri­od of three years sub­ject to the ap­proval of the TSX Ven­ture Ex­change. Stock op­tions grant­ed un­der the Cor­po­ra­tion's stock op­tion plan are not trans­fer­able, can­not be trad­ed and vest over a pe­ri­od not less than 24 months. Dr Kr­ish­na Per­sad, the founder of Mo­ra Ven, has a PhD in Ge­ol­o­gy with over 40 years ex­pe­ri­ence in the pe­tro­le­um in­dus­try, dur­ing which time he has come to be rec­og­nized as an in­dus­try pi­o­neer and the world's lead­ing ex­pert on the ge­ol­o­gy of Trinidad and To­ba­go.

Dr Per­sad is a re­cip­i­ent of many awards in­clud­ing be­ing named by the South Cham­ber of In­dus­try and Com­merce in Trinidad as one of the 40 most in­flu­en­tial per­sons in the Trinidad and To­ba­go Pe­tro­le­um In­dus­try in the last 100 years. In April 2010 he was ap­point­ed a mem­ber of the Gov­ern­ment Task Force on es­tab­lish­ing a pol­i­cy and reg­u­la­to­ry frame­work for car­bon diox­ide emis­sions in Trinidad & To­ba­go and is the Chair of the sub-com­mit­tee on New Busi­ness Op­por­tu­ni­ties.