Welcome to our dedicated page for Gemxx news (Ticker: $GEMZ), a resource for investors and traders seeking the latest updates and insights on Gemxx stock.
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On May 14, 2024, GEMXX (OTC: GEMZ) announced a strategic partnership with Latin Energy Partners (LEP) to jointly drill four test wells in a promising geological formation in Latin America. Guided by Dinesh Kumar Sarraf, former chairman of India's ONGC, LEP's leadership brings extensive experience in managing assets worth over $15 billion. Preliminary explorations have revealed significant sedimentary deposits, estimating over 1 billion barrels of recoverable oil in each of the two target basins. This partnership aims to leverage GEMXX's manpower to achieve global standards in oil exploration.
GEMXX is expanding its business model to include private equity funding for oil and gas exploration. They are focusing on funding the exploration of large oil fields in Latin America through new strategic partnerships. The company aims to tap into high-reward opportunities by targeting underexplored basins with substantial oil reserves. GEMXX is in final negotiations to secure financing for a four-well drilling program and has appointed Deane Preston to its Board of Directors.
GEMXX , a leading provider of gemstones and jewelry, announces plans to expand into new revenue streams and markets, focusing on energy projects. The company welcomes Richard Clowater as the new CEO, aiming for growth and shareholder value.