GBRC Global Resource Corp

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Global Resource Corporation Provides Additional Details Regarding Joint Development Agreement with Schlumberger
MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Global Resource Corporation (Other OTC:GBRC), a developer of a patent-pending microwave technology and machinery for a range of applications, today provided additional details regarding the company’s joint development agreement (JDA) with Schlumberger Limited (Schlumberger) (NYSE:SLB - News), the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide.

Originally disclosed on April 28, 2009 via an 8-K SEC filing, the comprehensive JDA provides for a collaborative arrangement between Global Heavy Oil Corporation, a wholly-owned subsidiary of Global Resource, and Schlumberger. The JDA provides for a three phased approach with the goal of creating commercial applications/products by utilizing both companies’ microwave processing technologies.

“Our work and research with Schlumberger is a milestone agreement for Global Resource Corporation and illustrates the potential of our technology for a number of industries, and in this instance specifically the heavy oil resource industry,” says Peter Worthington, Chief Executive Officer of Global Resource Corporation. “We are confident that the successful outcome of this collaboration will be a series of high value, oilfield service products. These products will then likely be sold through Schlumberger’s existing business model to companies in the oil and gas exploration and production industries. All activity will take place under a mutually beneficial agreement that leverages both companies' technologies, capabilities and sales channels, and ultimately creates new revenue flows.”

Under the JDA, Phase 1 will focus on research and development and identifying specific applications that either reduce costs or increase the value of heavy oil. Heavy oil, being hydrocarbons having an API gravity below 23.4 degrees, form over 70% of the world’s known hydrocarbon resources. Phase 1 will run for up to 2 years although a much shorter period is anticipated. In Phase 2, the collaboration will develop one or more prototypes based on the findings of Phase 1. Finally, Phase 3 will center on the commercialization and sale of the resulting applications/products for heavy oil processing.

Work and research under Phase 1 of the agreement has already begun, with an Oversight and Technical Steering Committee already in place and operational. Under terms of the agreement, Global Resource has already received a payment of $600,000 from Schlumberger for Phase 1, with another $1 million payable at the inception of Phase 2. Depending on the ultimate patent portfolio, Schlumberger will allow a joint venture credit of up to $8 million to GBRC.

The resulting joint venture commercialization revenues will be shared by the two companies with 60% going to Schlumberger and 40% to Global Resource.

Worthington concluded, “This joint venture is a natural collaboration for both us and Schlumberger. It combines our innovative technology for processing energy rich feedstock, like heavy oil, with a truly global partner’s technological expertise in upstream oil and gas processing and existing sales channels. We are confident the result will be cost effective and environmentally positive solutions for the oil and gas industry.”

Global Resource Corporation’s proprietary technology and processes provide a highly energy efficient, emissions free way to convert a wide range of materials into higher value energy and carbon products. This includes potential feedstock conversion of scrap tires, municipal waste, tanker sludge, heavy oil, coal and shale to valuable energy and carbon products.

Schlumberger is the world’s leading global oilfield services provider with over $27.16 billion operating revenue and some 87,000 employees in 80 countries. The company provides services and solutions aimed at helping its customers increase oilfield efficiency, lower finding and producing costs, improve productivity, maximize reserve recovery, and increase asset value in a safe, environmentally sound manner.

About Global Resource Corporation

Global Resource Corporation (Other OTC:GBRC) is a developer of a patent-pending microwave technology and machinery for a range of applications to such materials as waste tires, heavy oil, shale deposits, tar sands, coal, municipal solids wastes (MSW), drill cuttings and muds, and the like.

Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials.

For more information visit: Global Resource Corporation :: Overview

[mickymoose99]

GBRC
Last Trade @ 0.39
Below the MA20 @0.46
And the MA50 @ 0.57
In a buyers market and now we are
Seeing some positive deversion
Had some big volume yesterday
UTL 52.97 Under bought
RSI Line bullish @ 38.03
Keep it on your watch list
IMO should see some positive movement for some
Price appreteation ,Get in on the low and wait for the push
Chart Info
GBRC - SharpCharts Workbench - StockCharts.com

[STOCKMAN]

GBRC, This is a stock to watch for this to bounce back today. I have been hearing alot of chatter about this stock for the past couple of days.I have traded this company in the past and have seen great gains from it. I am currently not holding this company right now, but I am going to try to free up some funds so I can take another position today. good luck to you all and I hope all your stocks stay in the green!!

[mickymoose99]

.Global Resource Corporation Prepares for Future by Investing in Human Capital
The Company Announces Restructuring of Board Members and Selects Key Candidate for Chief Financial Officer


Buzz up! 0 Print..Companies:Global Resource Corp..Related Quotes
Symbol Price Change
GBRC.PK 0.32 0.00


{"s" : "gbrc.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} Press Release Source: Global Resource Corp. On Tuesday March 16, 2010, 8:00 am
MOUNT LAUREL, NJ--(Marketwire - 03/16/10) - -- Global Resource Corp. (Pinksheets:GBRC - News), a developer of patented energy-efficient microwave-based technologies for recycling tires, upgrading petroleum products and converting other materials to higher value hydrocarbon-based fuels or carbon materials, today announced the restructuring of the Board of Directors. By adding industry expertise to the board and management team, the company will be taking active steps to capitalize on its leadership role in the clean technology sector.

Mr. Edward V. Szofer and Mr. Paul Sommerville will join the Board of Directors effective immediately. Mr. Ken Kinsella, Chief Executive Officer of GBRC will also join the Board during the next 30 days pending a Board resolution. In addition to bolstering the Board of Directors with financial, technology, oil and gas expertise, the Company has identified Mr. Jeff Wittman as its prime candidate to become the company's next Chief Financial Officer.

"We are pleased with the caliber of our new board members who come to us from top leadership positions in the fields of technology and clean energy production," stated Mr. Brian Ettinger, Chairman of the Board of Directors for GBRC. "We believe that these changes represent a strong investment in human capital for the future growth of the company. We look forward to leveraging their knowledge and expertise in order to commercialize our technologies, improve our earnings and increase shareholder value. They will all be of significant value as GBRC executes on its continued strategy for commercialization."

Mr. Edward V. Szofer, has held various board positions of multi-national companies, both public and private. Using his vast experience he has guided these companies from start-ups to corporations with valuations of over $4.0 billion in market cap. Mr. Szofer has extensive experience in organizational growth, P&L responsibility and has managed companies with over 4,500 employees. His background also entails significant knowledge relating to mergers and acquisitions, as well as joint ventures and strategic alliance agreements. With nearly 30 years of industry knowledge and in-depth expertise in public markets, Mr. Szofer will provide guidance and insight to GNRC's management team in order to assist in the commercialization of its green technology.

Mr. Paul Sommervile has over 37 years of professional experience within construction and public company arenas. Prior to joining GBRC's Board of Directors, he served as Chief Executive Officer for Associated Pipe Line Contractors, Inc., an international builder and installer of commercial pipelines for the oil and gas industry. Throughout his career, he has gained extensive knowledge of highly sophisticated commercial grade construction projects in this sector.

As part of the Board of Directors restructuring process, Lincoln Jones III and Fred Clark have resigned due to personal reasons, effective immediately. Moving forward, the Company will continue to search for high quality industry experts to serve as quality members of the Board of Directors.

Mr. Ettinger continued, "We would like to thank all of the board members for their diligent efforts and support during their tenure serving the company. Their involvement marked an exciting time with significant milestones reached, most notably receiving a patent for the Patriot 1™ Tire-to-Fuel Oil Recycling System and the signing of major joint ventures, including Phoenix Renewable Energy, and the Global Heavy Oil JDA. On behalf of the entire management team and everyone at GBRC, I would like to wish them the best of luck with their future endeavors."

Mr. Jeff Wittman is a successful finance executive with over 20 years of experience and a strong background in financial management, mergers and acquisitions, start-ups, SEC reporting, financial planning and analysis, cost cutting initiatives, profit enhancements, and business operations. Mr. Wittman has built strong, sustainable companies in the U.S. and internationally. Based on his prior experience with public companies, he will focus on adding strict corporate governance and strong financial responsibility to GBRC.

"We are extremely pleased to welcome Mr. Wittman to our executive management team," said Mr. Ken Kinsella, CEO of GBRC. "He is a key component in the company's investment in human capital and strengthens our executive team based on his deep analytical, financial, and operational experience. He will be instrumental in assisting GBRC in executing on its commercialization strategy, securing additional joint ventures, and improving shareholder value."

About Global Resource Corporation

[STOCKMAN]

Stock is trading with good volume today, were going to see the pps increase as we shake out the flippers, stock will be taking off soon