Globalgroup Investment Holdings, Inc. (OTC Pink: GIHI) announced today that its subsidiary Sovereign Oil Inc. has successfully sold the Robbins lease located in Linn County, KS. The sale was completed the last week in March.
The sale resulted in $50,000 of debt being removed from Sovereign's books. This will allow the company to pursue further lease acquisitions in KS and TX. Sovereign has also been exploring O&G opportunities in OH.
Upon conclusion of Robbin's sale the company began an immediate search for new lease opportunities within Wilson andLinn counties in the KS area. GIHI's petroleum division expects improved annual financials from the KS sale of approximately$100,000.
About Globalgroup Investment Holdings, Inc .Globalgroup provides a viable online shopping alternative for fiscally challenged consumers by offering quality name brand products at affordable prices, regardless of household income, through credit alternatives and time-payment options. Globalgroup also offers technology solutions such asGlobalLOK that address the computer payment collection challenges associated with rent to own, pay as you go and no-credit-check computer markets, and in other industries where remote PCs and laptops are deployed. Sovereign Oil, a wholly owned subsidiary, has its emphasis on oil and gas exploration, drilling, and well completion.
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SOURCE Globalgroup Investment Holdings, Inc.