Texas Gulf Energy to Commence Re-entry of Crude Wells at Thirteen Sites in the Austin Chalk

HOUSTON, March 5, 2012 /PRNewswire/ -- Global NuTech (OTCBB: BOCL) DBA Texas Gulf Energy Incorporated will commence a well re-entry and optimization program in the Austin chalk field near Luling, Texas at 13 crude oil well sites.  The wells have a history of oil production in one of Texas' oldest and most prolific zones, and have been shut-in wells in previous years.

Texas Gulf Energy CEO David Mathews stated, "Our wholly owned subsidiary, Texas Gulf Oil and Gas, has negotiated  these leases over the last year and a half, and we believe that a re-entry program on these wells will rejuvenate their production, enhancing revenue and creating other opportunities for further oil production in the area.  We will continue our crude oil production focus in searching for exploration and production opportunities in known production areas with low risk of a dry hole to maximize possible returns for our shareholders."

About Global NuTech, Inc. (www.tgnrg.com) / Texas Gulf Energy
Global NuTech, Inc. (OTCBB: BOCL) Soon to be renamed Texas Gulf Energy, Incorporated, and with the recently announced acquisition of International Plant Services and Texas Gulf Oil & Gas, the Company is expanding vertically in the energy sector.  The company's growth has been previously driven by International Plant Services existing international business in management and construction services to the world's largest and best known energy companies in the refinery, chemical, mining and power industries.

About International Plant Services 
International Plant Services, LLC (IPS) Since our founding in 2003, our flagship company, International Plant Services, has deployed thousands of engineering, construction, technical, skilled crafts and project management personnel to major international energy companies including Exxon Mobil, Conoco Phillips, Chevron, Valero, and others. We are particularly well known throughout the energy markets for our ability to provide construction services with professional, experienced and well trained teams to maximize the ability of our customers to complete major projects safely, on time and on budget.  Now entering our tenth year in business, we have vertically integrated our service offering into other energy market segments, including wellhead services, oil and gas production, and professional consulting services both domestically and internationally to better serve the needs of our customers.

Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," 'expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in BOCL's disclosures or filings with the SEC. You are further cautioned that penny stocks, like BOCL, are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.

SOURCE Global NuTech, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED