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GFPE Investor Highlights

• Announced that it has signed and entered an exclusive option agreement to purchase Bodin Oil Recovery, Inc., a 30-year-old south central Louisiana waste oil recovery and industrial fuel oil company. Included in the acquisition are Bodin Oil Recovery, Action Oil Recovery, LA Filter Recycling, approximately 13 acres of land, fully equipped processing plants & offices, and a fleet of tanker trucks.
• Bodin Oil presently gathers, reclaims and markets approximately 10 million gallons of oil per year. By means of a relatively sophisticated process, the Company creates a clean and burnable industrial fuel oil. Bodin markets approximately 22,000 barrels a month of finished product. Clients include Chevron, Shell and Exxon. 
• Announced the Company hit oil in the Cypress Formation of the Sterett Miles #1A well (the first of the three formations discovered). The Cypress formation gave up approximately 6 barrels of oil just during setup. Gulf expects the initial production from this formation to be 50 to 60 barrels per day.
• The Illinois Basin, which extends from central western Indiana through southern Illinois into western Kentucky, is historically a prolific oil and gas producing area. Over 3.2 billion barrels of oil have been produced and recent calculations indicate that remaining recoverable resources in the Illinois Basin may be as much as 4.1 billion barrels.
• GFPE has negotiated a joint venture drilling program with an oil company that owns the right to 3000 contiguous acres in McLean county Kentucky located on the eastern part of the Illinois Basin. 
• Entered into an agreement with Jeanblanc International,  a developer of a proprietary hydrocarbon desulfurization process, in which GFPE will design the internal equipment of the desulfurizing plant for the separation of sulfur compounds from the hydrocarbons.
• The five year evergreen contract is for the internal design, construction and management of the desulfurization plants for Petroleos Mexicanos (The National Oil Company of Mexico- Pemex).
• Has been in business since 1997. The founder of the company Warren “Skip” Wheeler has over 45 years experience in oil industry. His experience has led him to alliances with the leading companies in the field.

Overview

Gulf Petroleum (GFPE) is a multi-faceted energy company that has been in business since 1997. Its focus is on two aspects of energy enhancement; production and desulfurization. The company combines the experience of its people with the strength of its strategic alliances to create profitable projects. The company understands the importance of utilizing America’s natural resources while protecting the environment. GFPE intends to improve the surroundings while becoming an industry leader.

The founder of the company Warren “Skip” Wheeler has over 45 years experience in this industry. His experience has led him to alliances with the leading companies in this field. The company focuses on its shareholders needs and maximizes their returns by innovation and commitment to honesty and profitability. GFPE is always striving to increase shareholder value.

Kentucky Drilling Project  

Gulf Petroleum Exchange has negotiated a joint venture drilling program with an oil company that owns the right to 3000 contiguous acres in McLean county Kentucky located on the eastern part of the Illinois Basin. This land is considered the Cleopatra oil field, which was first discovered in 1948 and to date has produced over 3 million barrels of oil. Gulf Petroleum intends to drill these wells to approximately 4,500 feet in depth. That will take the Company through the lower sections of the New Albany Shale and Devonian Shale formations. The New Albany Shale has the potential of rivaling the Barnett Shale of North Central Texas. 

Gulf Petroleum Exchange announced that they hit oil in the Cypress Formation of the Sterett Miles #1A well (the first of the three formations discovered). The Cypress formation gave up approximately 6 barrels of oil just during setup. Gulf expects the initial production from this formation to be 50 to 60 barrels per day.

The Sterett Miles #1A represents the first of five wells that Gulf will drill with Smith Oil Company who holds the leases for 3,000 contiguous acres in the Illinois basin. The Cypress formation is located at 1930-1945 and was the first oil rich formation in this well. The Aux vases located at 2165- 2173 and the McClosky at located 2370-2375 also had good porosity and strong shows of oil. Both the Aux vases and the Mcloskey formations appear to be much larger than the Cypress.

Warren (Skip) Wheeler President of Gulf Petroleum Exchange, Inc. stated that he expects this well to be the first of several successful oil producing wells in this project and we look forward to starting the drilling on more wells to maximize production.

Bodin Oil  

Gulf Petroleum recently announced that it has signed and entered an exclusive option agreement to purchase Bodin Oil Recovery, Inc., a 30-year-old south central Louisiana waste oil recovery and industrial fuel oil company. Included in the acquisition are Bodin Oil Recovery, Action Oil Recovery, LA Filter Recycling, approximately 13 acres of land, fully equipped processing plants & offices, and a fleet of tanker trucks

Bodin Oil is a family owned, Louisiana based, corporation established in 1981. It is located in Abbeville, LA. It presently gathers, reclaims and markets approximately 10 million gallons of oil per year. By means of a relatively sophisticated process, the Company creates a clean and burnable industrial fuel oil. The company markets approximately 22,000 barrels a month of finished product. Bodin's clients include: Chevron, Shell and Exxon. The U.S. Department of Defense recently awarded Bodin several contracts for the removal of contaminated jet fuel, waste oil, oil filters and other oil related waste. The subsidiary, Action Oil Recovery, Inc. services Auto Dealers, Oil Change facilities, Service Stations, and Trucking companies. The subsidiary, LA. Filtering Recycling, LLC, shreds, oil filters, oily rags, oil spill residue in drums and other oil waste products. The company is in a financially sound condition, with many assets and a very profitable cash flow.

The Waste Oil Industry

There are approximately 1.35 Billion gallons of used oil (toxic waste) generated each year in the United States. Because of the obstacles to proper disposal, used oil is often placed in sewers, landfills, vacant lots, or streams where it causes environmental damage (One gallon of used oil will create an eight-acre oil slick). Only 800 million gallons of the used oil is collected by recyclers for reuse, leaving approximately 550 million gallons to destroy the environment. The demand for cleaner and more efficient ways to recycle oil is rapidly increasing.

Recent News and Press Releases

Gulf Petroleum GFPE Enters Exclusive Option to Purchase Bodin Oil

Gulf Petroleum Begins Producing Oil

GFPE Encounters Oil

Gulf Petroleum Strike Oil in the Illinois Basin

Gulf Petroleum to Start Drilling

Gulf Petroleum Enter Contract to Design Desulfurizing Plant for Jeanblanc International

Gulf Petroleum Signs LOI to Purchase 75 Operating Oil and Gas Wells

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