GL is developing two different types of fuel resource development projects, both aimed at clean thermoelectric power generation. In the Republic of Panama, the group holds two peat concessions along the Caribbean coast of Bocas del Toro province, bordering with Costa Rica. In the Republic of Peru, the group is negotiating for natural gas pipelines and hydrocarbon concessions.

Peat Fuel

The physical properties of the peat fuel of Bocas del Toro province in Panama have been the subject of several scientific investigations. Generally, they have 20% more energy content than other European peat sources. Additionally, they contain less than 0.1% sulfur and nitrogen compounds. This means that power generation plants consuming this peat do not require scrubbers and other control equipment required to satisfy international emission standards in effect in the U.S., Europe, or by United Nations protocols. Also, in the EEC, where coal fired power plants are required to substitute a percentage of their coal fuel from renewable energy resources, this peat meets the requirements for such renewable fuel resource and can be consumed, after pelletizing, alongside other available coal fuels.

Hydrocarbons

In the Republic of Peru, GL is negotiating acquisition, exploration farm-outs and natural gas fuel supply agreements for a variety of Lots along the Zorrillos, Talara and Sechura basins along the coast of Northern Peru. These basins have been exploited for over a century for their hydrocarbon resources, mainly light petroleum crude. Peru maintains a petroleum refinery in the city of Talara.

Traditionally, exploration and exploitation has centered almost exclusively on petroleum liquids. Gaseous products associated with the liquids are vented to the environment. Exploration wells prior to 1998 which provided gaseous natural gas at better than 99% dry (the target post-refraction at the Camisea Lot 88 site) were usually capped and not reported to PetroPeru as a component of fuel reserves. Since then, Olympic Oil has placed in service a few gas wells and is servicing gas delivery to the fishing industry based in the Port of Paita nearby.

GL has access to the locations and data from several capped gas wells in the general area of Talara and Paita, allowing the company to develop estimates for new potential gas reserves in addition to the recapture and exploitation of gas normally vented to the environment, and is negotiating agreements for their exploitation.

Metals

GL has identified commercial grade ore deposites of ilmenite (ferrous titinate), magnetite (iron oxide), manganese oxides, copper, and others in Panama. In Peru, GL is evaluating installing mineral separation plants and developing a gold prospect.