New technologies and test results point to the possibility of oil extraction from America's 400,000 capped wells, which could provide over 50 years of energy WEST BERLIN, N.J., June 13 /PRNewswire-FirstCall/ -- Global Resource Corporation (OTC:GBRC.PK) announced today that they will commence Phase II testing to produce valuable energy byproducts from resid oil, a material that remains after crude oil is distilled. The new tests will prove that the company's patent pending process can derive upgraded oil and gas from resid oil, drastically increase the price per barrel of the material and avail the possibility of producing oil from capped oil wells, which are now considered non-retrievable, across the country. With the conclusion of these tests, the results will be made public. "What we have uncovered can potentially unlock billions of barrels of oil and vast amounts of gas from our domestic energy supplies, including capped oil wells," says Frank Pringle, CEO of Global Resource Corporation. "Producing energy from sources once thought 'dry' or unusable is the hallmark of our company, and these tests will prove that our country does not have to rely on foreign derived energy." Most significantly, the samples Global Resource has tested to date are similar in weight and chemical make up to the oil that remains in capped oil wells. Capped wells represent those oil deposits where producers have taken all of the extractable oil from the well, but heavier, more viscose oil remains. The Department of Energy estimates that when a producing well is capped, what remains in the 400,000 capped wells in the USA is 60% to 65% of heavy oil. This remaining oil is not considered a reserve but rather 'not retrievable.' Using Global Resource's process, that oil could be retrievable and committed to the United States' domestic energy needs, currently at 21 million barrels per day. Resid oil is a thick, highly viscose substance that is separated from crude oil during the refining process, and is sold for $4-$8 to be used for asphalt or roofing pitch. Refiners have, to this point, been unable to break down resid oil into lighter, usable fuels. Global Resource has shown that, using its technology and nominal energy input, resid oil can be broken down into valuable gases and oil, increasing the price per barrel to approximately $40. 5%, 4,000,000 barrels, of the 80,000,000 barrels of crude oil processed daily is resid oil, according to a June, 2004 National Geographic article titled 'The End of Cheap Oil.' The viscose material is reluctant to gasify, even using extreme heat. However, using Global Resource's technology and $15 per barrel of energy can break the resid oil down into heating oil, diesel and methane. Global Resource's initial tests on resid oil have shown that gasification is possible, according to American Petroleum Industry Standards, in samples ranging from 10 API down to a solid block, turning those samples into lighter, more valuable carbon chains -- such as methane, heating oil and diesel. GBRC is optimistic, as a result of its lab tests, that they will soon test a capped well and remove fractionalized gases to the earth's surface in the form of diesel gases. These gases could be condensed back to a variety of liquid fuels on site. ABOUT Global Resource Corp. Global Resource Corp. has a patent pending process that allows for removal of oil and alternative petroleum products at very low cost from various resources, including shale deposits, tar sands, waste oil streams and bituminous coal with significantly greater yields and lower costs than are available utilizing existing known technologies. The process uses specific frequencies of microwave radiation to extract oils and alternative petroleum products from secondary raw materials, and is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources. GBRC's technology will not only be developed to extract oil from shale, but from depleted oil fields in the US and elsewhere, many of which still contain more than half of the hydrocarbons originally in these fields, because the residual hydrocarbons are too viscous to extract with conventional technology. This news release contains forward-looking statements regarding Global Resource Corp'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. Press contact: Company contact: Matt McLoughlin Frank Pringle Senior Account Executive CEO Gregory FCA Global Resource Corporation 27 West Athens Avenue Bloomfield Business Park Ardmore, Pa. 19003 408 Bloomfield Dr. Unit 3 Main: 610.642.8253, ext. 129 West Berlin , NJ 08091 Mobile: 610.996.4264 Main: 856-767-5661 DATASOURCE: Global Resource Corporation CONTACT: Press contact: Matt McLoughlin, Senior Account Executive of Gregory FCA, +1-610-642-8253, ext. 129, Mobile: +1-610-996-4264, ; or Company contact: Frank Pringle, CEO of Global Resource Corporation, +1-856-767-5661, Web site: http://www.mobilestreamoil.com/

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