Gemxx Corp. announce it has signed a Definitive Agreement with Latin Energy Partners (LEP) to drill four test wells in a highly promising geological formation in Latin America. This strategic venture marks a significant milestone in GEMXX's expansion into the energy sector, demonstrating its commitment to diversification and growth.

The project will be led by Dinesh Kumar Sarraf, the former chairman and managing director of India?s premier exploration and production company, Oil and Natural Gas Corporation Ltd. (ONGC). Under Mr. Sarraf's visionary leadership, ONGC executed numerous international ventures and managed assets valued over $15 billion. His extensive experience and strategic acumen are now guiding LEP towards identifying and developing giant (500-million barrel) and super-giant (3-billion+ barrel) oil fields that have been previously overlooked in Latin America.

Mr. Sarraf's team is comprised of distinguished energy industry experts who have been actively involved in global oil and gas exploration for decades. Their collective expertise will be instrumental in ensuring the success of this project, from the initial drilling phase to potential full-scale production. The drilling of the four test wells is expected to commence in the coming months, with results anticipated to provide valuable data on the region's oil potential.

GEMXX Corporation and Latin Energy Partners will continue to update stakeholders as the project progresses.