Vancouver, February 9, 2007 - Global Developments, Inc. (PINKSHEETS:
GDCM), a publicly traded venture capital company, is pleased to
provide the following update with respect to PetroSun Inc., an oil
exploration company in which Global holds an equity stake.
PHOENIX, AZ--(MARKET WIRE)--Feb 8, 2007 -- PetroSun, Incorporated
(Other OTC:PSUD.PK - News) announced today that Algae BioFuels, a
wholly owned subsidiary, has chosen Alabama to conduct major field
trials in the Gulf Coast region for the cultivation of algae in open
and closed systems designed by the Company. Meetings with state
officials are being scheduled for late February to determine a start
date and site selection for these field demonstrations.
"Alabama has taken the initial steps to lead the nation into the
future of algaeculture for biodiesel and animal feedstock
production," said Gordon LeBlanc, Jr., CEO of PetroSun. "The Gulf
Coast region of the United States could become the model for self
sufficiency in renewable liquid transportation fuels."
Independent studies have demonstrated that algae is capable of
producing 30 times more oil per acre than the current crops now
utilized for the production of biofuels. The algae biomass material
could also supply annually up to 100,000 pounds of animal feed per
acre with a 50% protein content.
PetroSun will be posting additional information on Algae BioFuels on
its website at www.petrosuninc.com.
About PetroSun
PetroSun's current operations are concentrated in the Ark-La-Tex
region with plans to expand into New Mexico, Arizona, Utah and
Australia in 2007. PetroSun provides a comprehensive array of
products and services to the oil industry. Algae BioFuels, a wholly
owned subsidiary of PetroSun, is an emerging producer of biodiesel
derived from the cultivation of algae. The Company's cutting edge
technologies, combined with a proven ability to apply them
effectively and safely within a disciplined ROI framework, creates
long term value for PetroSun shareholders and partners. PetroSun is
headquartered in Phoenix, Arizona. For more information about
PetroSun visit the company's website at http://www.petrosuninc.com.
About Global Developments
Global Developments, Inc. is a publicly traded venture capital
company. It was formed to create a unique investment vehicle
representing a growing portfolio of innovative and emerging
growth-oriented companies. Global acquires its portfolio companies
either as wholly or partially owned subsidiaries, or as an investment
where Global is the lead investor. As a result, Global maintains
substantial management and operational control, thereby giving it the
ability to provide significant oversight and guidance in building
value and creating liquidity events for its shareholders. Global
invests in companies with solid management, operational excellence,
and the potential to grow substantial revenue streams.
Please visit http://www.globaldevelopmentsinc.com for more
information.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in
this press release. This press release contains forward-looking
statements that involve risks and uncertainties. Words such as
"will," "anticipates," "believes," "plans," "goal," "expects,"
"future," "intends," and similar expressions are used to identify
these forward-looking statements. Actual results could differ
materially from those anticipated in these forward-looking statements
for many reasons, including the risks we face as described in this
press release. For further information about Global Developments,
Inc. please refer to its Web site at
http://www.globaldevelopmentsinc.com.
Contact:
Global Developments, Inc.
Leighton Dean
(604) 685-7552
ldean@globaldevelopmentsinc.com
Source: GLOBAL DEVELOPMENTS, INC.
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