GeoGlobal Announces Review of Strategic Alternatives

GeoGlobal Resources GGR today announced that the Board of Directors has authorized management to investigate a broad range of strategic alternatives available to the Company to enhance shareholder value. These capital restructuring and financing alternatives could include, but are not limited to, a sale of assets or stock, a recapitalization or consolidation of the Company, or a joint venture. As part of the process, the Company has retained the services of Rodman & Renshaw, LLC RODM to assist the Company in exploring this broad range of strategic alternatives. Rodman & Renshaw, LLC will work directly with the Special Committee that has been formed by the Board. The Company has not altered its business plan or amended its previously disclosed capital budget and continues with the exploration and development program for 2011 as previously outlined. The Company will disclose developments with respect to this review process once the Board has approved a definitive transaction or strategic option or unless otherwise as required by law. There can be no assurance that any strategic alternative will be pursued or completed. "GeoGlobal has assembled a large and diverse portfolio and we are taking this step to help us realize value from assets that are either reaching maturity or that are not core to our long-term growth strategy" said Paul B. Miller, President and CEO. With Rodman & Renshaw, LLC's assistance and guidance, we hope to strategically undertake transactions that will help us capitalize on the value we have created within our current portfolio."