SOURCE: Global Business Services

October 11, 2007 08:00 ET

Global Business Services, Inc. Acquires Operating Company

FORT WORTH, TX--(Marketwire - October 11, 2007) - Global Business Services, Inc. (PINKSHEETS: GBNS) (Energetics Holdings, Inc. pending name change) ("Global") today announced the Board of Directors has approved and executed October 3rd's letter of intent, finalizing the purchase of a Louisiana oil company formed in 2001 with a current R-4 classification and tier II approval to operate oil, gas and disposal wells.

In addition to facilitating drilling operations in Louisiana, which are expected to commence in the first quarter of 2008, the acquisition creates other onshore and domestic offshore service opportunities for Global. Details on the operating company will be reported at a later time.

Global also announced it has moved its corporate headquarters from Beverly Hills, California to Fort Worth, Texas.

About Global Business Services, Inc.

Global Business Services, Inc. is an energy resource company committed to evaluating energy resource properties, the acquisition of existing production and subsequently, drilling oil and natural gas reserves in the mid-continent and gulf coast regions of the continental United States.

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

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  • Investor Relations
    Tom Kudlawiec