FROM 2008 Web Site:
CanArgo Energy Corporation ("CanArgo") "is an international oil and gas exploration and production company operating in the exciting oil and gas provinces of the former Soviet Union.
"CanArgo is currently focused on Georgia in the Caucasus where it has a large portfolio of attractive exploration, appraisal and development projects in the onshore Kura Basin in the east central part of the country. The company has been applying modern technology, including the use of horizontal drilling, in the rehabilitation of old fields for the production of unswept oil while actively exploring for new deposits of oil and gas in "neglected" parts of this proven hydrocarbon basin. In recent times, it has completed two deep exploration wells with promising results, and is currently preparing to test one of these potential large new oil discoveries." 
Accessed July 2010: