Stonebridge Resources Inks Memorandum Of Understanding With Global Energy Gas And Power Corp.
Stonebridge Resources Explorations Ltd. (Pink Sheets:SBRX) (GR:S3C) has signed a Memorandum of Understanding to purchase 51% of Global Energy Gas and Power Corporation. Global Energy has approved contacts and service agreements with Petroleos de Venezuela (PDVSA).
PDVSA is the Venezuelan state-owned petroleum company. It has activities in exploration, production, refining and exporting oil, as well as exploration and production of natural gas.
Stonebridge CEO Phillip Christian stated, “This is a huge step forward for the Company given the opportunity to expand our business philosophy and presence into South America. This will undoubtedly be advantageous to Stonebridge, creating new expanding business developments in the area. We look forward to building a continued long term business relationship with Petroleos de Venezuela (PDVSA).”
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