SOURCE: IO News Wire

IO News Wire

March 05, 2010 11:39 ET

(OTCBB: GBTO) Signs Agreement With Energy Network Limited

Note to Editor, the Following is an Investment Opinion Issued by the IO News Wire

NEW YORK, NY--(Marketwire - March 5, 2010) -  Caribbean Villa Catering/Globotek (OTCBB: GBTO) announced yesterday that they have reached a 10-year agreement with Energy Network Limited (ENL) to build 10 Associated Petroleum Gas (APG) processing plants in the Niger Delta in Nigeria.

The most recent totals are that the flaring done in Africa alone, if trapped and reused could produce over 50% of the current power used for the entire continent. With Nigeria having the second highest volume of APG flared, the deal signed with ENL to build 10 APG processing facilities is a tremendous step in reducing emissions as well as a major revenue source over the next 10 years.

Nigeria is a member country in the Global Gas Flaring Reduction Partnership (GGFR) whose main focus is to reduce the 400 million tons of greenhouse gases from APG flaring across the globe.

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Other active stocks are National Oilwell Varco (NYSE: NOV) Schlumberger Ltd (NYSE: SLB) and Baker Hughs Inc (NYSE: BHI)

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