SOURCE: Global Developments, Inc

February 06, 2007 09:15 ET

GLOBAL INVESTMENT UPDATE: PetroSun Drilling Results Spark Major Interest in Development

VANCOUVER, BC -- (MARKET WIRE) -- February 6, 2007 --

Vancouver, February 6, 2007 - Global Developments, Inc. (PINKSHEETS: GDVM), 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--(MARKET WIRE)--Feb 5, 2007 -- PetroSun, Incorporated (Other OTC:PSUD.PK - News) announced today that the production casing was set on the Muslow #1 to a depth of 4,000 feet. The well will be perforated within the next ten days to test the Rodessa Dees, Hill, Jeter and Jolley formations at depths ranging from 3,930 to 3,570 feet. Based on the logs and sidewall core analysis it is anticipated that the Muslow #1 will produce a high gravity crude oil from the Rodessa limestone formations mentioned above. The projected net pay from the combined intervals is approximately 35 feet.

The Cryer-Halbouty Muslow well located in Section 5, Township 20 North, Range 15 West logged, sidewall cored and drill stem tested the Hill formation. The Muslow #1 well is four feet high to the Cryer-Halbouty with similar log response in the Hill. The Cyrer-Halbouty Hill sidewall core analysis indicated oil in a 16-foot section and a drill stem test recovered 60 feet of gas cut mud and water free oil.

"We are very encouraged with the logs and analysis of the Muslow #1," said Gordon LeBlanc, Jr., CEO of PetroSun, "Upon the successful completion of the Muslow #1 as a producing well, the Company intends to fully develop the lease to increase monthly revenues and add to our oil and gas reserve base."

PetroSun holds a twenty-five percent working interest in the 2,961-acre Muslow tract.

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

You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Global Developments, Inc. please refer to its Web site at

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


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