Global Energy Resources Inc. (fka GERI)

[RagingStocks]

Global Energy's Lending Exceeds $10 Million in Retail Mortgages forthe Month of December 2006

Jan 23, 2007 12:31:06 (ET)


NEWPORT BEACH, CA, Jan 23, 2007 (MARKET WIRE via COMTEX) -- Global Energy Resources Inc. (PINKSHEETS: GERI), a Delaware Corporation, announced today the results of the first month of expanded operations of its mortgage services through GERI's acquisition of Saddleback Funding, a California-based Mortgage Bank. GERI reports, in the month of December 2006, its retail mortgage lending has exceeded $10 million.

"The Saddleback acquisition has positioned GERI to expand its lending platform and brings desirable additional resources and management to the operation. Our capacity for funding has increased to accommodate new business and this is contributing to the growth of overall loan volume. We anticipate that with the completion of our audited financials, further expansion can occur," stated Chris Butchko, GERI's president.

GERI's Financial Division offers a mortgage warehouse line utilized by mortgage brokers and certain lending groups to finance their clients' mortgage lending needs. GERI's finance division also provides wholesale lending services for the commercial, residential, construction and timeshare industries utilizing a warehouse line of credit. In addition, the finance division has marketing arrangements with major banks and mortgage banks to provide high-level customer service and technologies to solve lending needs. The division has recently begun to provide rapid response electronic processing of paperwork associated with its lending service.

About Global Energy Resources Inc.:

Global Energy Resources Inc. is a Delaware corporation with branch offices in Irvine, Calif., New York and Verona, Italy. Global Energy is expanding its business operations specifically in the areas of distribution, finance and energy.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause the actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.


Contact:
Global Energy Resources Inc.
Susan Steffens
1-949-209-8702
Contact via
http://www.marketwire.com/mw/emailprcntct?id=B6AA7ADF2CCA3239


www.GeriCompanies.com


Saddleback Funding
Tim Jurkowski
1-949-540-0900

www.MortgageProTeam.com