Mobilestream Oil and Carbon Recovery Corporation are Pleased to Announce the Completion of Asset Acquisition of CRC by Global Re
September 26 2006 - 9:59AM
PR Newswire (US)
BALTIMORE, Sept. 26 /PRNewswire-FirstCall/ -- Global Resource
Corporation (OTC:GBRC) (BULLETIN BOARD: GBRC) announced today that
it has completed agreement with Carbon Recovery Corporation (CRC),
of West Berlin, NJ, for the acquisition of the assets of Carbon
Recovery. CRC is a development stage company that has an exclusive
license with Mobilestream Oil, Inc., (OTC Pink Sheets: MSRM) for a
family of technologies which not only allow for the complete
recycling of an automobile tire (recovering all of the component
parts for resale) but also permit the economic recovery of oil from
sources such as shale, tar sands, oil resid and existing oil wells.
This family of technologies has the potential to materially
increase the usable and recoverable oil reserves worldwide.
Mobilestream Oil is pleased with the completion of the asset
acquisition. Mobilestream Oil is the single largest shareholder of
CRC and now boasts 37,500,000 shares of Global Recourse
Corporation. These shares have a present bid price of 1.20 and have
a value of $45,000,000. Mary Radomsky, President of Global
announced the agreement, stated, "We believe that the microwave
technology licenses held by Carbon Recovery will permit both
recovery of oil from currently marginal sources and the large
scale, environmentally-friendly disposal of used tires. We view
this as a significant entry into both the oil recovery and
environmental clean-up fields." Frank Pringle of Mobilestream Oil
added, "With the increase in value to Mobilestream Oil it will
permit us to access the capital markets and help accomplish our
goals of further commercializing our oil recovery technologies."
About Mobilestream: Mobilestream Oil, Inc. is an innovative oil and
natural gas exploration company focused on using our proprietary
technologies for reverse polymerization and pyrolysis of materials
and to maximize the output of under- utilized and non-producing oil
wells in order to squeeze out every last ounce of production.
Increasing prices continue to make primary and less conventional
methods for extracting oil more cost-effective, and while
Mobilestream Oil is relatively small compared to some of the larger
players in the industry, our size is our advantage as we feel we
can more quickly and effectively capitalize on expeditious
opportunities. Using these same proprietary technologies,
Mobilestream has successfully broken down tires into the tires'
component parts, capturing for resale virtually all of the raw
materials used to manufacture the tires. Contact: Mobilestream Oil,
Inc. Phone: (856) 767-2450 Fax: (856) 767-2490 This news release
contains forward-looking statements regarding Mobilestream's
business strategies and future plan of operations. Forward- looking
statements involve known and unknown risks and uncertainties. The
company's risk and uncertainties include: intense price
competition, economic, political and regulatory uncertainties, and
the need to raise additional capital for growth and expansion. The
forward-looking statements contained in this news release speak
only as of the date hereof and Mobilestream disclaims any
obligation to provide public updates, revisions or amendments to
any forward-looking statements made herein to reflect changes in
Mobilestream's expectations or future events. DATASOURCE:
Mobilestream Oil, Inc. CONTACT: Mobilestream Oil, Inc.,
+1-856-767-2450, or fax, +1-856-767-2490, or Web site:
http://www.mobilestreamoil.com/
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