SOURCE: Global Earth Energy Inc.

April 20, 2011 08:15 ET

Global Earth Energy Inc. Announces Details on Modern Coal Deal With Projected Revenues of $525 Million

WILMINGTON, NC--(Marketwire - Apr 20, 2011) - Global Earth Energy Inc. (OTCBB: GLER) (OTCQB: GLER) -- Modern Coal has acquired access to approximately 33 million tons of coal reserves in eastern Kentucky. A unique combination of location and topography resulted in Modern Coal being the primary economical route for producing the additional coal. Modern Coal will be able to reach the additional coal through mines operated on properties being acquired as part of a previously announced joint venture with GLER. Modern Coal believes the additional coal will be a superb addition to the acquired properties and will extend the productive life of the acquired properties by many years. This will also strengthen Modern Coal's ability to offer high-volume long-term contracts to a wider variety of coal purchasers.

The coal reserves on the acquired properties and the additional reserves are produced from numerous seams including the Amburgy, Elkhorn 1, Elkhorn 2, Elkhorn 3, Elkhorn 3.5, and Elkhorn 4. These seams contain highly volatile bituminous coals with a sulfur content varying from 0.65% to 1.4% and with thermal parameters ranging from 12,000 to 13,500+ BTU. These coal qualities are in strong demand primarily due to their exceptionally high thermal content but also because of environmental restrictions imposed on both electric utility and industrial users of steam and stoker coal, respectively. The Elkhorn seams are particularly suitable for the premium-priced stoker market and comprise over 85% of the coal on the acquired properties and the additional reserves. The coal can be found in numerous overlapping coal seams, promoting operating efficiencies.

The principal mining method will be subsurface mining. While production of the additional coal will require an extension of subsurface mines on the acquired properties, all of the existing underground and surface infrastructure will be available to support the extended mining operations, thereby reducing the capital expenditures compared to a greenfield operation.

About Global Earth Energy Inc.

Global Earth Energy Inc. provides renewable energy solutions. In addition, the Company is pursuing joint venture agreements with green solution providers worldwide.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Certain risks are detailed in the Company's Form 10-K and other periodic filings with the Securities Exchange Commission at www.sec.gov. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information

  • Contact:
    Sydney A. Harland
    CEO
    Global Earth Energy
    Tel: 910-270-7749
    www.globalearthenergy.com

    Brad Lamar
    CEO
    Modern Coal, LLC
    5411 Ridgemont Court
    Midland, Texas 79707-9115
    Fax 248-920-0396
    Email Contact