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Geo Point Technologies’
Acquisition Target Granted License to
Awarding of Final License to Produce and Sell Petroleum Products
Enables Sinur Oil to Begin Commercial Activity
Salt Lake City, UT, September 16, 2010 - Geo Point Technologies, Inc. (OTCBB: GNNC), announced that on September 15, 2010, the government of Kazakhstan granted Sinur Oil LLP a “License to Produce and Sell” petroleum products from its refinery in Karatau, southern Kazakhstan.
The license was issued by the Kazakh government after a lengthy process of document submission, quality testing and review by various government departments including the Ministry of Industry and Trade, the Agency for Natural Monopolies and the Ministry of Oil and Gas. Having finally received this license, Sinur Oil can now begin commercial activities, and expects to book its first sales in the coming weeks.