DUBAI, UNITED ARAB EMIRATES--(NewMediaWire - Nov 6, 2015)
- Global Equity International,
Inc. (OTCQB: GEQU) and its fully-owned
subsidiary Global Equity Partners Plc.
("GEP"), a specialist consultancy firm with offices
located in Dubai and London, are pleased to announce they have
signed an agreement with Hoqool Petroleum
International ("Hoqool") to
assist with sourcing up to $50 million of funding ahead of a
planned IPO on a recognized stock exchange.
Hoqool Petroleum International is an independent oil and gas
exploration and production company, incorporated in the Kingdom of
Bahrain. Hoqool is an Arabic word that means fields and
particularly oil and gas fields. Hoqool was established in 2010.
The founders combine vast and deeply rooted leaders who are
experienced, knowledgeable and well recognized, both locally and
internationally, covering the upstream sector of the oil and gas
with more than 175 years of experience.
The core business of Hoqool is the development of hydrocarbon
resources, and its activities include exploration and development
of oil and gas fields. The composition of Hoqool, together with the
close working relationships throughout the group, allows the
company to seamlessly manage business and undertake multiple
projects, with decisions based on technical merit and cost
effectiveness.
The management team are senior energy executives from the
national oil companies of Bahrain and Saudi Arabia who are
experienced and well recognized, and have extensive technical and
operational experience in the MENA region along with key
international figures from the industry forming Hoqool's
board. http://www.hoqoolpetroleum.com/index.php/corporate-profile
Hoqool would like to offer the private sector of the region the
opportunity to invest in upstream Oil & Gas and utilize its
expertise to help MENA Region develop its vast hydrocarbon
resources.
Hoqool is a major supporter of MEPEX and will continue to
enhance and strengthen the mandate of MEPEX for the benefit of
Arabian Gulf and the industry at large.
Peter Smith, CEO of Global Equity International Inc., said,
"We are delighted today to have this contract signed and to
start work on such a local high profile company. The Oil and Gas
sector in the Middle East is huge; it holds approximately 50% of
the world's proven crude reserves and it is estimated to hold 40%
of the world's gas reserves. Entering into this market opens up a
completely fresh channel of institutions and contacts for us to
work with in a sector that is always 'hot' in the MENA region. We
will be working with Hoqool Petroleum to assist with the capital
raise through to the future IPO. The company has an excellent
pedigree management team selected from some of the biggest names in
the business; their current plans and targets have been well
thought out and have tremendous amounts of potential resource. I
will be revisiting the team in Bahrain soon and the team will
descend on Dubai towards the end of November to our potential
investors and support team. Hoqool will be a ground breaking
deal for both GEP and MEPEX, the organization that brought us
together."
Habib Al Alawi, Director at Hoqool Petroleum International,
said, "This is an excellent time to enter in the
Exploration and Production market as the down turn of the industry
offers opportunities in the sector that are difficult to secure in
the upward curve. We anticipate expanding Hoqool into a number of
MENA regions with key blocks and targets being identified across
the region. The relationship with GEP will allow us to continually
access the capital markets for all of our expansion plans over the
coming years. We see this is a true partnership
arrangement."
About Global Equity International Inc.
Global Equity International Inc., through its wholly owned
subsidiary Global Equity Partners Plc., advises worldwide business
leaders with their most critical decisions and opportunities
pertaining to growth, capital needs, structure and the development
of a global presence. With offices in Dubai and London, Global
Equity has developed significant relationships in the US, UK,
Central Europe, the Middle East and South East Asia to assist
clients in realizing their full value and potential by bringing
them to external capital and resources that place an emphasis on
collaborative thinking. Furthermore, because Global Equity has
offices in key financial centers of the world, they are able to
introduce their clients to a unique opportunity of listing their
shares on any one of the many stock exchanges worldwide. Global
Equity Partners holds significant long-term equity positions in the
companies that it represents.
Safe Harbor Statement
This press release may include forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for markets
and the demand for products. Forward-looking statements are no
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. Such
statements are based upon, among other things, assumptions made by,
and information currently available to, management, including
management's own knowledge and assessment of the Company's industry
and competition. The Company refers interested persons to its most
recent Annual Report on Form 10-K and its other SEC filings for a
description of additional uncertainties and factors, which may
affect forward-looking statements. The company assumes no duty to
update its forward-looking statements.