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Global Resources Corp. Identifies First Potential Investments for Portfolio
Thursday November 18, 2004 9:29 am ET
TEMECULA, CA--(MARKET WIRE)--Nov 18, 2004 -- Global Resource Corporation (OTC BB:GRSU.OB - News) today announced that the Company has identified a number of initial prospective acquisition targets for its investment portfolio and anticipates that it will execute its first preliminary acquisition agreement in the coming weeks.
The focus of the Company's acquisition efforts is on companies engaged in the operation and enhancement of oil and gas properties and investments in oil and gas companies that are interested in becoming public entities. Management believes that there are abundant opportunities to acquire these types of entities that have positive cash flow and substantial upside and will provide the resources necessary for their investments to grow and become strong financial performers in the Company's portfolio.
Newly elected Global Resource Corporation President Jimmy Villalobos commented, "I have great confidence that we have focused our attention on the types of companies that will generate significant revenue and bring value to our shareholders.
"Needless to say, there has been tremendous attention focused on the oil and gas sector over the past several months, and the realities of world oil market and political conditions are such that production in the United States will continue to produce a high level of interest in the public markets for the foreseeable future."
"We are excited at the prospect of adding the investments we have targeted to our portfolio and are eager to proceed with initial agreements," added Mr. Villalobos.
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