SOURCE: Global Developments, Inc.

December 18, 2006 17:11 ET

GLOBAL INVESTMENT UPDATE: PetroSun Completes Acquisition of Sibley Field Interests

VANCOUVER, BC -- (MARKET WIRE) -- December 18, 2006 -- Global Developments, Inc. (PINKSHEETS: GBDP), 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 -- December 18, 2006 -- PetroSun, Incorporated (PINKSHEETS: PSUD) announced today that the company has completed the acquisition of the ALM Trust Properties, LLC working interest in the Sibley Field of Webster Parish, Louisiana. The Sibley Field assets acquired by the Company include five producing gas wells and numerous proven undeveloped locations.

PetroSun will cause the implementation of a plan of operation to commence the development of the Pettit gas and Paluxy oil proven undeveloped locations during the first half of 2007. The Company will also conduct a review of the existing producing wells and other wellbores on the leasehold to determine whether additional production can be obtained from remedial workovers or recompletions.

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

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.

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Forward-Looking Statements

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Contact Information

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    Global Developments, Inc.
    Leighton Dean
    (604) 685-7552
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