SOURCE: Globotek Holdings, Inc.

April 05, 2010 09:00 ET

(GBTO) Globotek Signs USD $100 Million Mexico and Colombia Contract

NEW YORK, NY--(Marketwire - April 5, 2010) -  Globotek Holdings, Inc. (OTCBB: GBTO) announced today that it has signed yet another multi-year agreement to build one APG processing plant every year for a period of ten years, this time with Colombian oil services giant Colregistros S.A.

According to the company, once built, each of the facilities could add $10 million USD in revenue for a potential ten year revenue of $100 million USD. The client, Colregistros S.A., is a subsidiary of Grupo GPC, a company headquartered in Bogota, Colombia that operates multiple oil fields with E&P assets all over Colombia's main hydrocarbon basin as well as having joint venture interests with oil and gas projects in Mexico. Grupo GPC is dedicated to clean energy solutions and has been actively providing technical solutions to the hydrocarbon industry in the region.

 "We are delighted that Colregistros S.A. has chosen our technology over other available options and the agreement allows Globotek immediate penetration into the huge Central and South American oil & gas market -- a region we have long been eyeing as part of our global expansion plans," stated Globotek CEO Mr. Lukin.

About Globotek Holdings, Inc. (www.globotek-ir.com)

Associated Petroleum Gas (APG) is a by-product of crude oil extraction and its flaring currently accounts for approximately 400 million tons of harmful greenhouse gas emissions into the atmosphere every year. APG flaring has far reaching effects on the environment, public health and the economy.

Globotek is the developer and owner of a unique technology for the processing of APG that is carried out at the drilling field by a Modular Mobile Structure. Globotek's process involves the use of block-modular mobile complexes that each contain mini gas processing units and can be used in any environment where APG is flared. The advantages of the Globotek APG system are many but can be summarized as speed of construction and installation, small cost and a worldwide market. Russian legislation mandates that all oil fields in Russia must process APG to the international 95% standard by January 2012.

Forward-Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. There is no assurance that a definitive agreement will be completed.

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