DUBAI, UNITED ARAB EMIRATES--(Marketwired - Dec 8, 2015) - Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned subsidiary Global Equity Partners Plc. ("GEP" -- www.gepartnersplc.com), a specialist consultancy firm with offices located in Dubai and London, announced that on November 26, 2015, representatives of the "Dubai Scout Group," a syndicate of the 25 largest Independent Oil Companies, met in Dubai with Hoqool Petroleum International Co. ("Hoqool" -- http://hoqoolpetroleum.com/) and Peter Smith (CEO of Global Equity International, Inc.). The meeting was sponsored by Hoqool Petroleum International (jointly with John Energy -- http://www.johnenergy.com/). Hoqool Petroleum had the opportunity to present an overview of the company and its strategies, in both Oman and Tunisia, to their peers.
Hoqool Petroleum International, a client of Global Equity International, Inc., has significant plans in both regions over the coming years. Oman is the initial focus of the company, where they are focused on developing a block with the potential of one billion barrels plus of oil.
The "Dubai Scout Group" is a coveted and very well respected group of companies that is chaired by Total Oil (http://www.total.com/en). The group includes Shell Global (http://www.shell.com/), Dragon Oil (http://www.dragonoil.com/), Dubai Petroleum (http://www.dubaipetroleum.ae/), Crescent Petroleum (http://www.crescentpetroleum.com/) and other significant oil and gas players, including Hoqool Petroleum International.
Mr. Habib Al-Alawi, Executive Director and COO of Hoqool Petroleum, presented the plans and strategic overview of the company to the DSG and also highlighted the agreement with Global Equity Partners Plc. (a fully owned subsidiary of Global Equity International, Inc.) to finance the upcoming exploration and production ventures. During the meeting Hoqool Petroleum furthermore announced its formation of a consortium to pursue production opportunities with John Energy, a company with a rich heritage of drilling and workover services.
On October 21, 2015, Hoqool Petroleum signed a 12-month consultancy agreement with Global Equity Partners Plc. whereby our company was mandated to source pre-IPO capital (primarily in the Middle East) amounting to, but not limited to, US$50 million. In return, Hoqool agreed to pay us an equity success fee equating to 10% of the Company's issued and outstanding common shares at the point of funding and also a 1.5% cash success fee on all pre-IPO capital raised as a result of any direct introduction to capital made by Global Equity Partners Plc.
Peter Smith, CEO of Global Equity International, Inc., said, "To be a sponsor of something as significant as the DSG is a great achievement for Hoqool Petroleum International; it clearly demonstrates the level of contacts and experience in management to be invited into such an exclusive group of companies. Habib Al-Awali has worked diligently to piece together the exploration team for the company; we are proud to be part of that team and involved in the decisions and strategic development of the company. Hoqool is a significant entrance into the extremely lucrative Oil and Gas business for GEP with a tremendous partner in MEPEX (http://www.mepexonline.com/old/), and our development in this area is something we will be pushing full steam ahead in 2016. Mr. Colin Copeland, our in-house expert in this field (see http://gepartnersplc.com/executive-management-and-staff), is currently working with both MEPEX and Hoqool. We are in for some very exciting times in the new year."
Habib Al-Alawi, Executive Director and COO of Hoqool Petroleum, said, "We have been a member of DSG for less than a year and yet we take the sponsorship of this meeting to benefit from the business associations with companies like Total Oil, Shell Global, Dragon Oil or Dubai Petroleum. The collaboration adds more value to the group and makes our future plans more visible to leaders of the industry. The participants of DSG are well known to us and they embrace our future plans; the Oman project is simply the start of something that will become a major venture in its own right."
About Global Equity International, Inc.
Global Equity International, Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centres of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners holds significant long-term equity positions in the companies that it represents.
Safe Harbour Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.