DUBAI, UNITED ARAB EMIRATES - (NewMediaWire) - November 6, 2015 - Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned subsidiary Global Equity Partners Plc. ("GEP"), a specialist consultancy firm with offices located in Dubai and London, are pleased to announce they have signed an agreement with Hoqool Petroleum International ("Hoqool") to assist with sourcing up to $50 million of funding ahead of a planned IPO on a recognized stock exchange.
Hoqool Petroleum International is an independent oil and gas exploration and production company, incorporated in the Kingdom of Bahrain. Hoqool is an Arabic word that means fields and particularly oil and gas fields. Hoqool was established in 2010. The founders combine vast and deeply rooted leaders who are experienced, knowledgeable and well recognized, both locally and internationally, covering the upstream sector of the oil and gas with more than 175 years of experience.
The core business of Hoqool is the development of hydrocarbon resources, and its activities include exploration and development of oil and gas fields. The composition of Hoqool, together with the close working relationships throughout the group, allows the company to seamlessly manage business and undertake multiple projects, with decisions based on technical merit and cost effectiveness.
The management team are senior energy executives from the national oil companies of Bahrain and Saudi Arabia who are experienced and well recognized, and have extensive technical and operational experience in the MENA region along with key international figures from the industry forming Hoqool's board. http://www.hoqoolpetroleum.com/index.php/corporate-profile
Hoqool would like to offer the private sector of the region the opportunity to invest in upstream Oil & Gas and utilize its expertise to help MENA Region develop its vast hydrocarbon resources.
Hoqool is a major supporter of MEPEX and will continue to enhance and strengthen the mandate of MEPEX for the benefit of Arabian Gulf and the industry at large.
Peter Smith, CEO of Global Equity International Inc., said, "We are delighted today to have this contract signed and to start work on such a local high profile company. The Oil and Gas sector in the Middle East is huge; it holds approximately 50% of the world's proven crude reserves and it is estimated to hold 40% of the world's gas reserves. Entering into this market opens up a completely fresh channel of institutions and contacts for us to work with in a sector that is always 'hot' in the MENA region. We will be working with Hoqool Petroleum to assist with the capital raise through to the future IPO. The company has an excellent pedigree management team selected from some of the biggest names in the business; their current plans and targets have been well thought out and have tremendous amounts of potential resource. I will be revisiting the team in Bahrain soon and the team will descend on Dubai towards the end of November to our potential investors and support team. Hoqool will be a ground breaking deal for both GEP and MEPEX, the organization that brought us together."
Habib Al Alawi, Director at Hoqool Petroleum International, said, "This is an excellent time to enter in the Exploration and Production market as the down turn of the industry offers opportunities in the sector that are difficult to secure in the upward curve. We anticipate expanding Hoqool into a number of MENA regions with key blocks and targets being identified across the region. The relationship with GEP will allow us to continually access the capital markets for all of our expansion plans over the coming years. We see this is a true partnership arrangement."
About Global Equity International Inc.
Global Equity International Inc., through its wholly owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centers of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners holds significant long-term equity positions in the companies that it represents.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.