Global Equity International Inc (OTCBB:GEQU) and its subsidiary Global Equity Partners Plc. reported a strategic partnership deal with the “Middle East Prospect Exhibition” to serve as company’s exclusive Financial Partner for Advisory and Public Listings and funds raising, for the MEPEX participants. The entity brings together firms in the Energy market in the Region and offers a common platform for financing, buying and selling Oil and Gas related firms and projects.
MEPEX had 280 gas and oil related members for its first exhibition and is now planning to grow the number in the coming period. The unit is the “One-Stop-Shop” to carry out all Energy and Petroleum operations in the MENA Region, which is a vast and very lucrative industry in the Middle East.
The expert call
Peter Smith, the CEO of Global Equity, said that GEP and MEPEX can together turn into a strong force in the listing and financing of Oil and Gas firms in the Middle East. With their relationship and contact base and Global Equity’s experience, the company possesses a tremendous opportunity in the growing industry. MEPEX is a major player in its region and also in the sector. The management understands the Middle East Gas and Oil industry with extensive experience of executive committee.
Global Equity CEO added that when he first discussed the likelihood of an agreement between MEPEX and GEP with Habib Al-Alawi, it was clear within a short period that both the parties share similar views for the future of corroboration. It is a privilege to be finalized as the exclusive financial associate for such a renowned institution.
Smith concluded that they MEPEX will attract firms in the Oil and Gas industry, who are looking for the services that the company offers. They will dedicate resources and time to help these firms achieve their objectives.
Global Equity International Inc (OTCBB:GEQU) managed to end the last trading session with a minor gain of 1.25% but actually the proximity of the closing price of $0.0405 and the opening price of $0.0410 made the daily candle pattern a Doji, indicating indecision on the part of the short term investors. The volume of the day at 5.4 million was considerably lower than the daily average of 7.8 million, reflecting the absence of the trend makers. The stock has found resistance around $0.05 in the intermediate time frame and needs a break above that level to extend the rally but the overstretched state may require some more time correction.