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."
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.
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.