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July 29, 2015 6:24 AM ET

Energy Equipment and Services

Company Overview of The Japan Oil, Gas and Metals National Corporation

Company Overview

Japan oil, Gas and Metals National Corporation provides financial assistance, technology development and technical support, stockpiling, gathering/providing information, mine pollution control, and overseas field survey services in Japan and internationally. The company offers financial assistance for oil and gas exploration and production projects, as well as for exploration and development of metallic mineral resources through equity capital and liability guarantees. It also manages stockpiling of petroleum, LP gas, and rare metals, including the construction of stockpiling bases. In addition, the company provides oil recovery, oil and gas reservoir detection and characterization, well dri...

Toranomon Twin Building

2-10-1 Toranomon

Minato-ku

Tokyo,  105-0001

Japan

Founded in 1963

481 Employees

Phone:

81 3 6758 8000

Fax:

81 3 6758 8008

Key Executives for The Japan Oil, Gas and Metals National Corporation

Executive Director
Executive Director
Executive Director
Executive Director
Compensation as of Fiscal Year 2015.

The Japan Oil, Gas and Metals National Corporation Key Developments

Arena Minerals Enters into $16 million Option Agreement with Japan Oil, Gas and Metals National Corporation

Arena Minerals Inc. announced that it has signed a binding definitive agreement with Japan Oil, Gas and Metals National Corporation, pursuant to which Arena has granted JOGMEC the option to acquire up to a 60% interest in 10,000 hectares to be selected from 30,000 hectares of the company's Atacama Copper Property, located in Antofagasta, Chile (the "Agreement"). The hectares optioned include the majority of the land lying between the Cerro Barco and La Paloma properties, consisting of three separate claim blocks, which have been designated Carmen Alto, Pampa Union and Cerro Guacate Sur (collectively the "Property"). In order to exercise the option and acquire a 60% interest in the Property, JOGMEC will be required to spend a minimum of $16 million on the Property in two stages over a six year period, and make payments of $630,000 to Sociedad Quimica y Minera de Chile S.A., the underlying property owner, on behalf of Arena during the option period. In addition, JOGMEC will make an initial payment of $125,000 directly to Arena on or about July 17, 2015.

JOGMEC To Sell Its 30% Stake In Watershed

Vital Metals Limited (ASX:VML) has said in filing, “The Watershed Project is fully permitted, and our Japanese partner JOGMEC(The Japan Oil, Gas and Metals National Corporation), which holds a 30% interest, is arranging to transfer its interest to a Japanese company who will participate in and help fund the project’s development.”

Midland Exploration Inc. Resumes Partnership with Japan Oil, Gas and Metals National Corporation for Field Exploration Program on Pallas Platinum Group Elements Project in Labrador Trough

Midland Exploration Inc. ('Midland') announced to resume, in partnership with Japan Oil, Gas and Metals National Corporation ('JOGMEC') the field exploration program on the Pallas Platinum Group Elements ('PGE') project in the Labrador Trough ('Trough'). Entering into the third year of the agreement, this field exploration program will involve prospecting the lateral extents of known mineralised corridor (reefs) rich in Platinum Group Element and gold ("PGE + Au") and other judged favorable corridors identified in 2013 and 2014. The program objective is to find more PGE + Au showings that will be added to ready to channel targets for a fall follow-up program. From the project start, Midland has found more than thirty (30) showings with more than one (1) gram per tonne PGE + Au including spectacular assays with 12.6, 7.2, 4.9, 3.2 and 2.9 g/t PGE + Au along nine (9) kilometric mineralized reefs over Ceres, Itokawa, Gaspar and Paladin properties. From channel sampling, more than fifty (50) channels, about a meter long, have returned more than one (1) gram per tonne PGE + Au including 2.9 g/t PGE + Au over 1.76 meter ("m") including 4.5 g/t PGE + Au over 0.9m on Paladin; 1.52 g/t PGE + Au over 4.35m including 2.33 g/t PGE + Au over 1.15m on Athena and 1.32 g/t PGE + Au over 2.83m including 4.1 g/t PGE + Au over 0.31m on Itokawa. Currently the project counts 494 claims covering a surface area of more than 225 square kilometres in the Trough approximately 80 kilometers west from Kuujjuaq, Quebec. These claims cover a large, folded, multi-kilometre mafic-ultramafic complex known for its strong potential for platinum group elements. Midland and its partner are pleased to resume exploration in this very promising project. JOGMEC has the option to acquire 50% interest in the Pallas project prior to March 31, 2016 by funding $2,000,000 in expenditures. Midland will be operator as long as it will hold an interest equal to or higher than 50% in the project.

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