DENVER, August 11, 2005 (EWORLDWIRE) — Capital Hill Gold Inc. reports that the Federal Government of Nigeria will on August 26 award licenses to about 47 oil block concessions under the 2005 Bid Round. That action is expected to bring in new players into the nation’s petroleum industry and to also stimulate investments in the downstream sector.
Capital Hill and Oil and Industrial Services Ltd (OIS), have bid on three of the 47 oil block concessions for this round.
Capital Hill’s President Dan Enright met with Managing Director of OIS Kenneth Worgu in Philadelphia on Friday to discuss strategies post-August 26 for their Joint Venture Partnership in its West African oil property development.
Over the next five years, one in five new barrels of oil on the global market will come from the Gulf of Guinea, and more than $33 billion will be invested in the region, 40 percent of it from American companies, the Washington-based Center for Strategic and International Studies estimates.
Capital Hill’s Nigerian development partner is OIS (http://OIS-International.com). The OIS group employs around 400 personnel and is proud to include major companies such as Chevron, Shell, Mobile, AGIP and other world-renowned companies within its client base.
About Capital Hill Gold Inc.
Capital Hill Gold’s strategic objective is to obtain controlling interests in petroleum, uranium and other strategic and precious metal properties with excellent exploration potential for economically significant to world-class ore deposits. CHGI has acquired rights to several mineral exploration properties with uranium, gold and silver, and is actively negotiating for the acquisition of additional properties.