Penny Stock News: Global NuTech Announces Approval of Name Change to Texas Gulf Energy, Incorporated and New Trading Symbol TXGE

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HOUSTON, March 6, 2012 /PRNewswire/ — Global NuTech, Inc. (OTCQX:BOCL) announced today that FINRA has approved the new name Texas Gulf Energy, Incorporated (www.tgnrg.com) and a new trading symbol TXGE effective Wednesday, March 7, 2012.  The name and trading symbol change reflects the company’s expanding focus on services, exploration and production in the energy sector.  David Mathews, CEO of Global NuTech, said, “We believe our new name, Texas Gulf Energy, Incorporated, more clearly defines our future focus and the energy related businesses of the company.”  

About Texas Gulf Energy, Incorporated formerly known as Global NuTech, Inc.

Texas Gulf Energy, Incorporated (OTCBB: TXGE effective March 7, 2012) 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 or TXGE, 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.

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