LONDON, October 30 /PRNewswire/ --
Global Oil Tools Inc, (http://www.globaloiltools.com) announces that its parent, The Lyamec Corporation (The Libyan American Corporation), a 1999 Texas based, and market development and private equities investment utilizing secondary securitization market entries of both regulated and non-regulated markets by the Securities and Exchange Commission, settled its dispute with Grifco International. Subsequently in August of 2006, a settlement plan and agreement was negotiated and finalized whereby ultimately Grifco International relinquished all of its interests in Global Oil Tools Inc to The Lyamec Corporation.
In a statement by RG Raymond, director of parent, The Lyamec Corporation, "Typically we focus on transactions ranging between USD $5 million to US$25 million by means of leveraged buy-outs, asset roll-up and mezzanine based recapitalization programs."
In 2007, Global Oil Tools Inc, (est'd. in 1978, Louisiana), began its re-organization into Global Oil Tools (Wyoming), whereby Global Oil Tools Inc, (Wyoming) entered into an agreement to acquire all assets and liabilities of Global Oil Tools Inc, (Louisiana) and whereby Global Tools' (Louisiana) board approved the reorganization.
Currently, the Global Oil Tools project is managed with complete oversight by The Lyamec Corporation (Owner), and The Lyamec Corporation is currently restructuring the enterprise for its first round of phase of private placement exempted by the Securities and Exchange Commission. Since taking control of management in late 2005, Global Oil Tools' manufacturing capacity increased to 80% and year over year operating profits rose (in millions) from US$1,050,000 for 2005, to US$1,302,000 in 2006, and US$1,735,000 for 2007, respectively. Global Oil Tools is now one of the most successfully managed and operated manufacturing firms in its industry, and is equipped with state-of-the-art CNC machinery and technology and know how, that allows it to produce a vast line of specialized wire line tools and down-hole flow control system products for its 150 customers and clients.
RG Raymond went on to add, "Leveraging our operational experience and strategic relationships is at the heart of deal origination and execution. Since our acquisition's superb performance and through our (The Lyamec Corporation) oversight all outstanding debts at Global Oil Tools (Louisiana) have been paid in full, as well as, positive cash flow from operations has been achieved; furthermore, new equipment and facility improvements have positioned Global Oil Tools as a prime target contender in the oil field and down-hole flow control systems industry manufacturing. We are aggressively focused in the operations and manufacturing side of oil field related equipments and products, including that of coil tubing products and services, down hole flow control systems, and product accessories, certification of oil drilling rig refurbishment services and wire line tool manufacturing and bringing Global Libya's facility online to support the African targeted market.
Within recent months vested interests in its enterprises were provided for several business and financial agreements totaling approximately US$10 million and were provided approximately US$6,000,000 in secured debt financing agreements for working capital including that of providing for Auto Industry and Equipment Manufacturing leasing service operations. In addition, follow-on project financing totaled approximately US$4.5 Million, was agreed to with several equity kicker bases and positioning in several of the privately owned companies including that of providing the oil field service sector leveraging opportunities, such as, leveraging our manufacturing procedures to include exclusive branding of certain products for induction to the coil tubing service industry and products into future current and future subsidiaries focusing in the gas drilling and distribution services."
Since early 2005, The Lyamec Corporation completed the acquisition of several stakes including that of stakes in the renewable power generation industry, whereby its portfolio expansion into renewable power generation portfolios recognized approximately an 86% return on its return, of which it subsequently exited in 2006. Contemporaneously, The Lyamec Corporation (Plaintiff) filed a grievance with the Federal District Court in the State Of Texas and a suit was filed against its NASD member (Defendant) and its official intermediate representative. The presiding United States appointed Federal District judge presiding over the case concurrently ruled in favor of The Lyamec Corporation. The judge's ruling was not appealed by the defendant.
In early 2007, The Lyamec Corporation (http://www.lyamec.com) co-sponsored the acquisition of several entities through several mezzanine debt based loans for small-cap publicly and privately held companies in which it acquired an equity stake in forms of secured and non-secured convertible notes including that of certain Leasing and Financing, Mergers & Acquisitions and Real Estate Development enterprises, and its investment(s) of which included a stake in a wholly owned subsidiary of an issuer precluded a (35%) interest in a Hilton Hotel in West Palm Beach, Florida.
On September 20th, 2007, specific products and branding rights were the subject of a controlled setting for Global Oil Tools and Halliburton, and in particular at Halliburton's operational center in Houston, Texas, whereby Global Oil Tools introduced Halliburton to its concept development of proprietary and exclusively traced and controlled manufacturing of (By Global Oil Tools) a tool, known as "GOTWELL" 1.125 inch "Selective Wire Line Retrievable Lock and Nipple System (SGL)", for use in the coil tubing gas lift operations.
According to a statement by WJ Barnhill, Global's founder and current Chief Operating Officer, "What makes this concept unique and revolutionary is that it provides tremendous cost savings to the operators. The coil tubing gas lift concept has been conventional for many years and servicing is very expensive and takes a lot of equipment on location to do the job. Currently the only way to maintain the repair of the gas lift valves is to retrieve them by pulling out the coil tubing and run back over and over every time the valves need repair, which is extremely costly and takes several days to do so. The "GOTWELL" retrievable system, in current controlled production and in use by Global customers, Shell and Conoco Phillips, eliminated their cost by simply retrieving gas lift valves thru wire-line (slick-line) servicing and replacing them within a few hours at a fraction of the costly effects currently facing the operator(s). Barnhill added, "There is no need to pull the coil tubing out because you use the wire-line to go inside (coil tubing) which is far less costly."
Global Oil Tools and its board are committed to 'revolutionary' branding "GOTWELL" for the industry and our board agreed with Wilfred James Barnhill that a review into providing exclusive manufacture branding rights to Halliburton would be "a natural approach."
As a dividend yield-oriented and investment income generating company, we prioritize our investment in enterprises with historical cash flows, positive earnings, fixed assets collateral, accounts receivable and inventory financing. We perform due diligence assessment on targeted investment opportunities, including project financing, recapitalization, business acquisitions and developing income producing properties and industrial projects that generate significant revenues. Through structured finance solutions combining mezzanine financing and private equity investments, we improve existing business operations via modernizing manufacturing productivity, building higher sales revenue and earnings growth with strong margins and realignment of management policies to fully implement changes necessary to achieve strategic goals.
In his concluding statements RG Raymond stated, "Our business strategy is to identify and negotiate with potential target(s) operating in the energy related industries for an acquisition or business consolidation objective. We provide a platform for the domestic small-cap private companies to become a reporting publicly traded firms. Currently, our executives are focusing on the completion of certain filing with Securities and Exchange Commission requirements and deal flow direction, including placement offering with a view towards adding its portfolio of companies to listings in London's Stock exchange (AIM), The American Stock Exchange, (AMEX) and Libya's stock exchange. Early stage financing comes in the form of funded commitments from our senior executives and subsequent capital is raised either through private placement or initial public offering proceeds. Securitization of investments come by obtaining majority equity interests in our portfolio companies assets and we generate revenue from origination and advisory fees, capital restructuring fees and income from providing managerial services, initial public offering assistance and earnings from business operations.
Web site: http://www.globaloiltoolslibya.com
Brian Barnhill or RG Raymond, +1-504-754-0005, firstname.lastname@example.org, both of Global Oil Tools Libya