An unknown buyer acquired 0.97% stake in The Israel Land Development Company Energy Ltd (TASE:IE) from GeoGlobal Resources Inc. (AMEX:GGR) for $1.4 million in cash on July 11, 2012. GeoGlobal Resources sold 8.5 million shares. The proceeds from sale will be directly applied to meeting the capital commitments in the Myra and Sara Blocks. Moran Meir-Beres of KM Investor Relations Ltd. and Dave Feick of The Equicom Group acted as PR advisors to GeoGlobal Resources Inc. An unknown buyer completed the acquisition of 0.97% stake in The Israel Land Development Company Energy Ltd (TASE:IE) from GeoGlobal Resources Inc. (AMEX:GGR) on July 11, 2012.