GLK Great Lakes Graphite Inc

CALGARY, March 29 /CNW/ -- TSX-V: "GLK"                                                            Shares Outstanding   20,685,959  CALGARY, March 29 /CNW/ - Global Energy Services Ltd. ("Global") is pleased to announce that it has entered into an arm's length letter of intent agreement with Stellarton Technologies Inc. ("Stellarton") to negotiate the acquisition of the business and assets of Stellarton.  Global contemplates that it will pay consideration of $1,500,000 to be satisfied by the issuance of approximately 9,000,000 Global common shares. The business assets include optimization equipment, patents, copyrights, trademarks and machine shop equipment. The acquisition is subject to the completion of due diligence and negotiation of a formal agreement with the customary closing conditions including the receipt of all regulatory and TSX Venture Exchange (the "Exchange") approval. The acquisition has received approval in principle from the Board of Directors of both Global and Stellarton. The combined assets of Stellarton and Global through this acquisition will make a stronger oil and gas optimization company focusing on the production service sector.  Derek Begin, President of Global and Eric Laing, President of Stellarton agree in a joint statement, "These are exciting times in the optimization of production services and gives the corporation the opportunity to market a full suite of optimization and patented products. Global Energy Services Ltd. is an innovative oilfield service company that provides production services and communications solutions to the oil and gas industry. The production services segment utilizes its patented Activator Hydraulic Submersible Pump ("HSP") to enhance and increase ultimate production in both conventional and unconventional gas, oil, and CBM wells. Global was founded in 1994 and is listed on the TSX-V. More information about Global Energy Services can be found at http://www.global-energy.ca This News Release contains forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances or achievements of Global to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, fluctuations in the markets for oil & gas and related products and services, political and economic conditions, the demand for the products and services provided by Global, industry competition and Global's ability to attract and retain both customers and key personnel. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2011/29/c7583.html p /p p align="justify" bDerek M. Begin/b, President and Chief Executive Officer.br/ Global Energy Services Ltd.br/ #10, 1220 -59supth/sup. Ave. SEbr/ Calgary, Alberta T2H 2M4br/ Tel: (403) 243-0820br/ Fax: (403) 243-3425br/ E-mail: a href="mailto:dbegin@global-energy.ca"dbegin@global-energy.ca/abr/ Web site at: a href="http://www.global-energy.ca/"www.global-energy.ca/a /p p bEric Laing, /bPresident Stellarton Technologies Inc.br/ Suite 101, 17620-103suprd/sup. Ave.br/ Edmonton, Alberta T5S 1J9br/ Tel: 780 481 4234br/ Fax: 780 481 4586br/ e-mail: a href="mailto:elaing@stellartontech.com"elaing@stellartontech.com/abr/ Web site at: a href="http://www.stellartontech.com/"www.stellartontech.com/a /p

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