In a quarterly activities report released yesterday, the company said it has also completed seismic mapping of its Sever Licences in the Moravia region, Czech Republic.
GB said preliminary seismic mapping over the Sever Licence has identified several potentially suitable structures for oil and gas.
The Sever Licences are in the Carpathian hydrocarbon province, a large region extending from Austria, through the Czech Republic, Slovakia, Poland, Ukraine and into Romania.
GB said an analysis of the data with joint venture partner Unigeo would be carried out in April and May to determine if additional seismic was needed.
The company expects to drill a well in the area by the end of this year.
In its Salas Licence area, GB is acquiring additional well and seismic data before developing an exploration evaluation strategy for the licence.
GB expects to gather and interpret the data by the end of this year.
Elsewhere in Europe, the company says it has developed a work program for the exploration of four uranium licences in Slovakia.
The licences are in areas investigated as part of a nationwide program of uranium exploration in 1960, GB said.
The first phase of fieldwork is scheduled to begin during the European summer, the company added.
In the company's new ventures, GB is evaluating the oil and gas opportunities in 12 blocks on offer in the onshore portion of the Taranaki Basin, New Zealand.
Once the evaluation is completed, GB said it would consider lodging bids for the acreage.
In its African ventures, GB said it would continue to seek oil and gas opportunities in West Africa, after withdrawing from two oil and gas exploration blocks offshore The Gambia.
GB pulled out earlier this month, after an agreement for the licences couldn't be reached.
In the company's pursuit for geothermal opportunities, GB has an agreement with Australian Sustainable Energy (ASEC) to earn up to 50% interest in the company.
ASEC is currently developing technology to convert ocean wave energy directly into electricity, and stage 1 of its wave energy conversion technology should be completed by the second quarter of this year, GB said.
