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Global Resource Corporation Receives Positive Results From Oil Shale Testing

^{Published on 2010-07-08 05:41:12 - Market Wire}
 

MORRISVILLE, NC--(Marketwire - July 8, 2010) - Global Resource Corp. (PINKSHEETS: [ GBRC ]), a developer of a patented energy-efficient microwave-based technologies for recycling tires, upgrading petroleum products and converting other materials to higher value hydrocarbon-based fuels or carbon materials, announced today the company has received positive findings on its test to extract liquid hydrocarbons from Australian oil shale. The results were part of a study that tested the effects of high frequency microwave energy that is focused directly into a sample of oil shale.

Several samples of Australian oil shale were crushed, ground and sieved through a 4-6 mesh sieve trap to ensure uniformity and a direct comparison to previously tested shale samples. The results indicate that using GBRC's specific methodology, results in far more energy efficiency than even from conventional microwave processes.

All the excess gasses processed are used to generate electricity and the power consumed during this microwave treatment uses approximately 139.38 kWhr net. This is extrapolated to produce 3.07 barrels of oil from one ton of shale. Therefore, based on a unit charge of $0.10 per kWhr, a barrel of oil can be produced using electricity costing less than $5.00/barrel.

"The results from this testing are extremely encouraging for both GBRC and the unconventional oil market as whole," said Mr. Ken Kinsella, CEO of Global Resource Corp. "These tests prove that microwave energy can effectively produce energy capabilities at significant discounts compared to what is currently being used. Additionally, this represents a monumental achievement for our organization and the skills of our scientific department to continue to develop the most effective processes using microwave energy. We will continue to refine and test our technology going forward in order to speed commercialization to the market and provide high returns for our shareholders."

About Global Resource Corporation

Global Resource Corp. (PINKSHEETS: [ GBRC ]) is a developer of a patented microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, coals and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information see: [ www.globalresourcecorp.com ]

Forward-Looking Statements

This news release contains forward-looking statements regarding Global Resource Corporation's business strategies and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties. The forward-looking statements contained in this news release speak only as of the date hereof and Global Resource disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Global Resource's expectations or future events.