Document:

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EXHIBIT 10.10

                          COMBINED TECHNOLOGY AGREEMENT
                       (with Assignment of Trade Secrets)

THIS COMINED TECHNOLOGY AGREEMENT, made as of the 22nd day of September, 2006 by
and among:

FRANK G. PRINGLE, an adult individual, competent to contract, residing at 8
Tallowood Drive, Medford, New Jersey 08053, hereinafter "PRINGLE"; and
LOIS AUGUSTINE-PRINGLE, an adult individual, competent to contract, residing at
8 Tallowood Drive, Medford, New Jersey 08053, hereinafter "AUGUSTINE"; and
MOBILSTREAM OIL, INC., a Delaware corporation with principal offices located at
408 Bloomfield Drive, Units #1 & #2, West Berlin, New Jersey 08091, hereinafter
"MOI";

                                       AND

CARBON RECOVERY CORPORATION, a New Jersey corporation with principal offices
located at 408 Bloomfield Drive, Unit #3, West Berlin, New Jersey 08091,
hereinafter "CRC"; and
GLOBAL RESOURCE CORPORATION, a Nevada corporation with principal offices located
at 209 Robwood Road, Baltimore, Maryland 21222, but as of the date hereof being
moved to 408 Bloomfield Drive, Unit #3, West Berlin, New Jersey 08091,
hereinafter "GRC";

WITNESSETH THAT:

         WHEREAS, PRINGLE is an inventor who, since the 1990's has been
experimenting with the use of targeted, variable frequency microwaves for the
decomposition of various materials, especially hydrocarbons in various forms and
compositions and commercial uses;

         WHEREAS, PRINGLE has, over the years, made certain licensing agreements
with Careful Sell Holding relating to the technology and trade secrets developed
by him, with Careful Sell Holding transferring all of its rights such that the
end result of which was that the technology and trade secrets were ultimately
transferred, sold, conveyed, and assigned to MOI;

         WHEREAS, AUGUSTINE was a member of Careful Sell Holding and executed
various related documents on its behalf and is accordingly joining herein;

         WHEREAS, MOI sold an exclusive license for the use of the technology
and trade secrets to CRC in exchange for the issuance of 37,500,000 shares of
CRC's Common Stock, which license provided for certain on-going royalties;

         WHEREAS, CRC has entered into a Plan and Agreement of Reorganization
with GRC, whereby in a so-called "C" Reorganization GRC is acquiring
substantially all of the assets of CRC, of which assets the primary one is the
license rights to the technology and the trade secrets;

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         WHEREAS, in view of the prior chain of title with respect to the
license rights, the parties desire to have a single, unified document combining
the prior assignments and confirming the transfer by Careful Sell Holding, the
ownership by MOI, the exclusive licensing by MOI of CRC, and the ownership of
such license rights by CRC, prior to the reorganization, and by GRC, after the
Closing;

NOW, THEREFORE, intending to be legally bound, in consideration of the promises
and covenants previously made and made hereby, the parties acknowledge their
understandings, as follows:

1. PRINGLE hereby represents and warrants that it was his intent, consistently,
at all times, to have transferred the technology and trade secrets to Careful
Sell Holding. PRINGLE further represents and warrants that, in fact, he
transferred all of his right, title and interest in and to the technology and
trade secrets to Careful Sell Holding, first the waste tire decomposition
application and subsequently the other applications. He hereby represents and
warrants that Careful Sell Holding was, at the time of the transfer by it to
MOI, the sole and exclusive owner of the technology and trade secrets, that
Careful Sell Holding had the full authority, right and power to transfer, sell,
convey and assign such technology and trade secrets to MOI, and that Careful
Sell Holding in fact made a full and complete transfer of all of its rights to
MOI. By joinder to this Agreement, Careful Sell Holding confirms such
representations and warranties and confirms that it was the sole and exclusive
owner of the technology and trade secrets, that it had the full authority, right
and power to transfer, sell, convey and assign such technology and trade secrets
to MOI, and that it in fact made a full and complete transfer of all of its
rights to MOI.

2. AUGUSTINE hereby represents and warrants that she was a fifty percent member
of Careful Sell Holding, that PRINGLE first transferred the technology and trade
secrets pertaining to the waste tire decomposition application to Careful Sell
Holding and subsequently transferred the balance of the applications, and that
Careful Sell Holding transferred its entire right, title, and interest in and to
the technology and the trade secrets to MOI and that following such transfer MOI
was the sole and exclusive owner of the entire technology and trade secrets and
that Careful Sell Holding retained no interest therein..

3. MOI hereby represents and warrants that as of the date hereof it is the sole
and exclusive owner of the technology and trade secrets, subject only to the
rights previously conveyed to CRC. MOI represents and warrants that at the time
of its licensing of CRC it was the sole and exclusive owner of the technology
and trade secrets, that it had the full authority, right and power to license
CRC, on an exclusive basis, to use the technology and trade secrets.

3. PRINGLE, AUGUSTINE and MOI represent and warrant that (a) all of the
potential applications for the technology, (b) all of the components of the
technology, and (c) all of the trade secrets relating to the technology and the
potential applications have been, respectively, transferred to Careful Sell
Holding and in turn transferred to MOI, and in turn licensed, on an exclusive
license basis, to CRC and that CRC has the full authority, right and power to
transfer, as licensee, its license to GRC. By joinder to this Agreement, Careful
Sell Holding confirms such repressentations and warrantes.

                                       2

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4. CRC hereby assigns all of its right, title and interest in and to the
license, the technology and the trade secrets to GRC. CRC represents and
warrants that such license is in good standing, with no event of default or
delinquency as of the date hereof and free of all liens and encumbrances. MOI
hereby confirms that such license is in good standing, with no event of default
or delinquency as of the date hereof. MOI acknowledges awareness of the transfer
and assignment of the license and consents thereto and accepts GRC as the
licensee, releasing CRC from all further responsibility thereunder.

5. MOI, CRC, and GRC acknowledge that over the years there have been various
transfer documents, various license documents, and expansions in the scope of
the technology applications and agree that it is desireable to have a single
document setting forth the terms of the license. Accordingly, while all such
prior transfers as summarized hereinabove are to remain in full force and effect
so that MOI is the sole owner of the technology and the trade secrets and the
licensor thereof and GRC is the sole and exclusive licensee thereof, in all
other respects this Combined Technology Agreement is intended to supersede and
replace all prior agreements, documents, writings, memoranda, understandings and
licenses and the relationship between MOI and GRC shall be governed by the terms
and conditions hereof.

6. (a) MOI (hereinafter the "Licensor") hereby grants to GRC (hereinafter the
"Licensee") the exclusive and worldwide right and license (the "License") to
commercialize, use and exploit the Inventions for any purpose whatsoever,
whether in recycling tires or in other commercial activities; to practice the
processes of recycling tires through the use of proprietary technology utilizing
wavelength specific microwaves and sub atmosphere vacuum chambers; to make,
assemble, and use apparatus, machinery, auxiliaries, and all devices for
carrying such Inventions and processes into practice; and to make, use, sell, or
dispose of the products of such processes and apparatus, machinery, auxiliaries,
and devices (the "Process").

(b) The Licensor hereby grants to the Licensee the right to grant sublicenses on
such terms as are consistent with the provisions of this Agreement and to such
sublicensees as are acceptable to the Licensor, in its sole and exclusive
discretion.

(c) The exclusive rights and License herein granted shall include all
Inventions, improvements, enhancements and modifications thereto made or
conceived during the term of this Agreement which the Licensor owns or controls
or hereafter owns or controls, and all patent applications and patents based on
or covering the same which the Licensor now owns or controls or hereafter owns
or controls.

(d) If the Licensee desires to make or cause to be made any apparatus,
machinery, auxiliaries, devices, or parts therefor to exercise the rights and
License granted to the Licensee pursuant to this Section 1, then the Licensor
shall provide the Licensee, or its nominees, with such blueprints and working
drawings as are available to the Licensor, and all other data and information
reasonably necessary for the manufacture thereof.

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7. The Licensor represents that:
         (i) Such Inventions, including the Process, are secret, have not been
revealed to anyone except the patent attorneys for the Licensor, and shall not
be revealed to anyone during the term of the License without the prior approval
of the Licensee;
         (ii) The Licensor has the right to grant the License hereby granted,
has executed no agreement in conflict herewith and has not granted to any other
person, firm, or corporation any right, license, shop-right, or privilege
hereunder; and
         (iii) The Licensor has at no time filed, or caused to be filed,
applications for patents, or obtained in their name, or caused to be obtained in
the name of others, any patents in the United States or elsewhere based or
covering any of the Inventions.

8. The Licensor shall furnish to the Licensee, or to its nominees and attorneys,
all information and documents regarding such Inventions which are reasonably
available to the Licensor, including the apparatus, processes, and formulae in
respect thereof, to enable the Licensee to operate thereunder and to enable its
attorneys to prepare and prosecute patent applications therefor; it being
understood and agreed that, if so requested by the Licensor, the Licensee's
attorneys shall collaborate with such other patent attorney as the Licensor may
designate. The Licensor shall render to the Licensee such services in a
consulting capacity as may be requested by the Licensee to instruct the
Licensee, or its appointed nominees, in all operations pertaining to the
industrial and commercial exploitation of the Inventions.

9. (a) Commencing on March 1, 2006, with respect to that application of the
technology pertaining to the disposal of waste tires, CRC began the payment to
MOI of a minimum annual royalty of $1,400,000 pursuant to an arrangement whereby
the royalty is the greater of 7.5% of the Revenues, as hereinafter defined, or
the minimum royalty. The minimum royalty is to incerease by $100,000 per annum
on March 1 of each year until it reaches $1,800,000. (b) The Licensee shall pay
to the Licensor royalties based upon the utilization of the various additional
included technologies, as follows:
<TABLE>
Utilization                         % royalty        Minimum Annual Royalty*
<S>                                 <C>
Dredged Sediments/Soils                 7.5          same as waste tires
Plastic Waste                           7.5          same as waste tires
Oil Shale Recovery                      10           2.8 million, increasing $100,000 pa** for 5 years
Oil Sands Recovery                      10           same as oil shale recovery
Cuttings Waste                          10           same as oil shale recovery
Resid Oil                               10           4.2 million, increasing $100,000 pa** for 5 years
Capped Well Recovery                    10           same as Resid Oil
</TABLE>

* Minimum Annual Roaylties will commence as provided in (c) following.
** "pa" means per annum, with each increase commencing on the anniversary date
of commencement of the utilization
(c) Payment of the Minimum Annual Royalty will not commence until such time as
(i) the Licensor certifies that a given technology is ready for actual field
utilization, following all laboratory and BETA testing required, and (ii)
Licensee (or a sub-licensee) commences actual utilization of the certified
technology.
(d) For the purposes of this Agreement, Revenues shall mean all consideration of
any value, from any sales of products, materials, energy, services or other
revenue generated through utilization of the technology but shall exclude
amounts for shipping, transmission, insurance or severance/sales tax.

                                       4

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10. The Licensee shall at all times keep, and require all sublicensees to keep,
an accurate account of the licensed operations, and shall render a full
statement of the same in writing to the Licensor for each calendar quarter
during the term of this Agreement, within thirty (30) days of the end of such
calendar quarter, and concurrently with the rendering of such statement pay to
the Licensor the amount of Royalties accrued during the corresponding calendar
quarter. The Licensee agrees that the Licensor shall have the right, at its own
expense and not more often than once in each calendar year, to have a certified
public accountant acceptable to the Licensee examine the books of the Licensee
and sublicensees, if any, for the sole purpose of verifying Royalty statements
and Revenues.

11. This Agreement shall remain and continue in full force and effect on a
continuous basis in perpetuity, but subject to the following:
         (a) The Licensee may at any time, upon thirty (30) days' written notice
to the Licensor, terminate this Agreement and the licenses hereunder, the
foregoing being without prejudice, however, to moneys due or to become due to
the Licensor.
         (b) If any payments are in default for fifteen (15) days after written
notice is given to the Licensee either by certified mail, return receipt
requested or by commercial overnight delivery service with delivery fees paid,
or if the Licensee is in default in performing any of the other terms of this
Agreement and such default continues for a period of sixty (60) days after
written notice thereof is given to the Licensee, then the Licensor shall have
the right to terminate this Agreement upon giving notice to the Licensee at
least ten (10) days prior to the effective date of termination, and thereupon
the Agreement and the rights and License granted hereunder to the Licensee shall
become void without prejudice to any remedy of the Licensor for the recovery of
any moneys due it under this Agreement.
         (c) In the event of any adjudication of bankruptcy or of insolvency
under any statute for the relief of debtors or the appointment of a receiver by
a court of competent jurisdiction, or the assignment for the benefit of
creditors or levy of execution directly involving the Licensee, this Agreement
shall terminate.
         (d) Upon termination pursuant to this Section 5, the Licensee shall
duly account to the Licensor and transfer to it all rights which it may have to
the patents, inventions, processes, and apparatus, and all rights to any
sublicense or sublicenses which may have been granted pursuant to the terms
hereof.

12. (a) Licensor is not aware of any infringement by the Process or the
Inventions. If infringement is alleged, Licensor will cooperate with Licensee in
the defense of such claims and may, but shall have no obligation to, control
such defense. The establishment by any third-party of the Inventions' or the
Process's infringement of the rights of such third-party shall not be a breach
of this Agreement.
(b) This Section sets forth the Licensor's entire liability for patent and/or
copyright infringement related to the Process.

13. If during the term of this Agreement, the Licensor, individually or
collectively, makes any further improvements in the Inventions or the mode of
using them, or becomes the owner of any new improvements either through patents
or otherwise, then the Licensor shall communicate such improvements to the
Licensee and the Licensee shall have the right to include the same in this
Agreement without additional compensation. If during the term of this Agreement,
the Licensee, individually or collectively, makes any improvements in the
Inventions or the mode of using them, then the Licensee shall communicate such
improvements to the Licensor and Licensor shall have exclusive right, title and
interest in all such improvements.

                                       5

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14. (a) Licensee hereby acknowledges that the Inventions and Process, including
design, drawings, documentation and other trade secret and intellectual property
rights pertaining to the Inventions and Process are valuable rights which shall
remain the sole property of Licensor and shall be maintained in confidence by
Licensee, its employees and agents during the term of this Agreement and
thereafter following termination of this Agreement, subject only to the use of
such rights by the Licensee pursuant to the terms of this Agreement, unless such
proprietary information is approved in writing by Licensor for release,
publication, dissemination or use or is required by applicable law to be
disclosed to a governmental authority; provided, however, that to the extent
permitted by applicable law, Licensee shall use its best efforts to obtain the
agreement of such governmental authority to maintain the confidentiality of any
such proprietary information.
(b) Licensee and Licensor shall keep in strict confidence any and all important
matters concerning the business terms covered by this Agreement. Licensee shall
treat and handle all technical information, design data, specifications and like
material pertaining to the Inventions and the Process or any improvements
thereto in confidence and will use such material only to make, have made, use
and sell products using the Inventions and the Process. Licensee shall return
all technology and other papers and items which are embodied in physical form to
Licensor promptly upon the termination of this Agreement. (c) The parties shall
take all reasonable steps to eliminate the risk of disclosure of confidential
information, including, without limitation, ensuring that only employees with a
need to know information relating to the Inventions and/or the Process have
access thereto and that such employees shall sign confidentiality agreements to
treat the Inventions and the Process as confidential information. Licensee shall
provide proper and secure storage for papers, drawings and other confidential
matters.
(d) Licensee shall require any permitted sublicensee to sign an Agreement
containing the same confidential provisions as are contained herein.

15. The parties voluntarily agree that any dispute or claim concerning or
relating to this Agreement shall be resolved by binding arbitration in Camden
County, New Jersey. The parties voluntarily waive their rights to seek judicial
determination of such disputes or claims. The arbitration proceedings shall be
conducted in accordance with the Commercial Rules of Arbitration promulgated by
the American Arbitration Association, as amended from time to time. Any dispute
arising under this Agreement or with regard to its interpretation shall be
submitted for arbitration to the American Arbitration Association in Camden
County, New Jersey in accordance with the rules and regulations of said
Association. Any controversy or claim arising out of or relating to this
Agreement, or the breach thereof, shall be settled by arbitration in accordance
with the Commercial Arbitration Rules of the American Arbitration Association,
and judgment upon the award rendered by the Arbitrator(s) may be entered in any
court having jurisdiction thereof.

                                       6

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16. Any notice required under this agreement shall be addressed to Licensor at 8
Tallowood Drive, Medford, New Jersey 08055 and to Licensee at Bloomfield
Business Park, 408 Bloomfield Drive, Suite 3, West Berlin, New Jersey 08091.

17. This Agreement shall be binding upon and inure to the benefit of the heirs,
legal representatives, successors, and assigns of the parties hereto; provided,
however, the rights of either party hereunder shall not be assignable, nor
transferable, except to heirs, without the prior written consent of the other
party, which consent may not be unreasonably withheld.

18. This Agreement and any attachments hereto constitute the entire agreement
and understanding of the parties with respect to the subject matter hereof and
supersede all prior agreements and understandings, whether oral or written. No
modification or claimed waiver of any of any of the provisions hereof shall be
valid unless in writing and signed by the duly authorized representative against
whom such modification or waiver is sought to be enforced.

19. Nothing contained in this Agreement shall be construed as conferring by
implication, estoppel, or otherwise upon either party any license or other right
except the License and rights expressly granted hereunder to that party.

         In Witness Whereof, the undersigned have executed and delivered this
Combined Technology Agreement as of the day and year first above written.

                                              GLOBAL RESOURCE CORPORATION

                                              By:
                                                  ------------------------------

                                              MOBILESTREAM OIL CORPORATION

                                              By:
                                                  ------------------------------

                                              CARBON RECOVERY CORPORATION

                                              By:
                                                  ------------------------------

                                              Frank G. Pringle

                                              Lois Augustine-Pringle

                                       7<page>
EXHIBIT 10.11

                      PLAN AND AGREEMENT OF REORGANIZATION
                          UNDER I.R.C. SS.368(a)(1)(D)

                           GLOBAL RESOURCE CORPORATION

                                       AND

                          MOBILESTREAM OIL CORPORATION

         THIS PLAN AND AGREEMENT OF REORGANIZATION, dated this 28th day of
November, 2006, made by and between:

         GLOBAL RESOURCE CORPORATION,, a Nevada corporation having its principal
business office located at Bloomfield Business Park, 408 Bloomfield Drive, Unit
3, West Berlin, New Jersey 08091 (hereinafter referred to as "Buyer");

                                       AND

         MOBILESTREAM OIL CORPORATION (hereinafter referred to as "Seller"), a
Delaware corporation having its principal business office located at Bloomfield
Business Park, 408 Bloomfield Drive, Units 1 & 2, West Berlin, New Jersey 08091
(hereinafter "Seller"): WITNESSETH THAT:

         WHEREAS, Seller desires to transfer to Buyer at the Closing (as
hereinafter defined), and Buyer desires to acquire from Seller at the Closing,
substantially all of Seller's assets, as more fully described herein, upon and
subject to the terms and conditions contained in this Agreement; and

         WHEREAS, it is intended by the parties that the transaction qualify as
a tax-free reorganization within the meaning of Section 368(a)(1)(D) of the
Internal Revenue Code of 1986, as amended (the "Code") and that for accounting
purposes it is intended that the transaction be treated as a "purchase";

NOW, THEREFORE, intending to be legally bound, and in consideration of the
foregoing recitals and the mutual promises and covenants contained herein, and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Buyer and Seller hereby agree as follows:

                                       1

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                                    ARTICLE I
                                   DEFINITIONS

         Definitions. In addition to the terms defined elsewhere in this
Agreement, when used in this Agreement the following capitalized terms shall
have the meanings indicated:

         "Act of Bankruptcy" when used in reference to any Person, shall mean
the occurrence of any of the following with respect to such Person: (a) such
Person shall have made an assignment of all or substantially all of its assets
for the benefit of his or its creditors; (b) such Person shall have filed a
voluntary petition in bankruptcy; (c) such Person shall have been adjudicated
bankrupt or insolvent; (d) such Person shall have filed any petition or answer
seeking for himself or itself any reorganization, liquidation, dissolution or
similar relief, (e) such Person shall have sought or consented to, or acquiesced
in, the appointment of any trustee, receiver, or liquidator of such Person of
all or substantially all of the properties of such Person; or (f) sixty (60)
days shall have elapsed after the commencement of an action against such Person
seeking reorganization, arrangement liquidation, dissolution or similar relief
without such action having been dismissed.

         "Affiliate" when used in reference to any Person, shall mean any Person
that, directly or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with the Person in question.

         "Applicable Law(s)" shall mean any applicable federal, state, local or
foreign law, ordinance, order, regulation, rule or requirement of any
governmental or quasi-governmental agency, instrumentality, board, commission,
bureau or other authority having jurisdiction.

                                       2

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         "Assets" shall mean (i) all right, title and interest of Seller in and
to the assets, real property, personal property,
equipment, intellectual property, software and other property of Seller set
forth on Exhibit 1 attached hereto, (ii) all transferable net operating losses,
capitalized expenses and research and development costs of Seller which may
benefit the Buyer, and (iii) cash and/or cash equivalents in an amount equal to
all cash on hand/on deposit, less only an amount not to exceed $10,000 to be
used to pay liabilities unpaid as of Closing and not being assumed by the Buyer.

         "Material Adverse Effect" shall mean any material adverse change or any
development involving a prospective material adverse change in or affecting the
general affairs, business, prospects, management, financial position,
stockholders' equity or results of operations of a Person, taken as a whole.

         "Person" shall mean any individual, corporation, partnership, joint
venture, limited liability company, unincorporated association, trust or other
legal entity.

         "Tax Returns" shall mean all federal, state, local and foreign tax
returns and reports, including by way of illustration and not of limitation,
income tax returns, payroll tax returns, unemployment tax returns, sales and use
tax returns, wage tax returns, withholding tax returns and franchise tax
returns.

                                   ARTICLE II
        SALE AND TRANSFER OF ASSETS AND ASSUMPTION OF CERTAIN LIABILITES

         2.1 Transfer of Assets. Except as otherwise herein expressly set forth,
Seller hereby agrees that at the Closing provided for in Section 4.1 hereof (the
"Closing"), Seller shall sell, assign, transfer, convey and deliver to Buyer all
of Seller's right, title and interest in and to the Assets. Seller represents
that the Assets, as set forth on Exhibit 1, are substantially all of the assets
of Seller.

                                       3

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         2.2 Excluded Assets. Seller and Buyer understand and agree that the
sale, assignment, transfer, conveyance and delivery specified in Section 2.1
hereof shall not include any assets, rights or property of Seller other than
those expressly included in the definition of Assets. Seller represents that any
assets not set forth on Exhibit 1 are immaterial and DI MINIMUS and that Buyer
is acquiring substantially all of the assets of Seller.

         2.3 Assumed Obligations. Buyer agrees that at the Closing, Buyer shall
assume only those specific contracts, agreements, leases, covenants, obligations
and liabilities on the list attached hereto as Exhibit 2 (collectively, the
"Assumed Liabilities"). As of the Closing Date, Seller, as soon as reasonably
practicable thereafter, will terminate any and all of Seller's other (non-
assumed) contracts, leases, licenses and agreements and Seller, shall remain
liable for any and all of its liabilities or encumbrances not specifically
assumed by Buyer pursuant to this Section 2.3, including but not limited to:

         (a) liens and encumbrances to which the Assets are subject, or would
have been subject to, immediately prior to Closing;

         (b) any liability or obligation relating to taxes of Seller, including
any interest or penalties related thereto;

         (c) any warranty or performance liability claims relating to the assets
which arose prior to the Closing; and

         (d) any liability or obligation of the Seller, absolute or contingent,
known or unknown not expressly agreed to be assumed pursuant to this Agreement.

                                   ARTICLE III
                                  CONSIDERATION

         3.1 Assumption of Certain Liabilities and Issuance of Security Units.
In full and complete payment for the Assets, Buyer agrees to (i) assume the
Assumed Liabilities pursuant to Section 2.3 hereof, (ii) issue to the Seller,
for ultimate distribution to the holders of the Seller's Common Stock, Eleven
Million, One Hundred Forty-five Thousand, One Hundred Twenty-five (11,145,225)

                                       4

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shares of the Buyer's Common Stock (iii) issue to the Seller, for ultimate
distribution to the holders of the Seller's 2006 Series of Convertible Preferred
Stock, Seventy Million, Four Hundred Seventy-two Thousand, Three Hundred
Seventy-six (70,472,376) and (iv) issue to the Seller approximately Twenty-Seven
Million, Two Hundred Five Thousand, Eight Hundred Sixty-seven Common Stock
Purchase Warrants to be distributed at the rate of one Warrant for each three
shares of Common or Preferred Stock, to be called the Mobilestream Warrants,
which Warrants shall have an initial exercise price, subject to reduction by the
Buyer's Board of Directors from time to time and at any time, of Four Dollars
and Seventy-Five Cents ($4.75), which Warrants shall not be exercisable until
and unless there is an effective Registration Statement under the Securities Act
of 1933 for the underlying shares of Common Stock and which Warrants shall have
a term ending on December 31, 2007. The Buyer's Common Stock, 2006 Series of
Convertible Preferred Stock, and Common Stock Purchase Warrants shall be issued
in the name of and paid to Seller.

         3.2 INVESTMENT REPRESENTATIONS.  Seller acknowledges, agrees
and represents that:

         (a) It has been advised that none of the shares of Buyer's Common
Stock, none of the shares of Buyer's 2006 Series of Convertible Preferred Stock,
and none of the Buyer's Common Stock Purchase Warrants being acquired by it
hereunder have been registered under the Securities Act of 1933 (the "1933
Act").

         (b) All of the securities of Buyer being acquired hereunder are being,
and will be, acquired and held for investment, not for resale or distribution to
the public and not for the purpose of effecting or causing to be effected a
public offering of such securities and, further, that none of such securities
will be sold, transferred, assigned or disposed of except to a liquidating trust
for the benefit of Seller's shareholders, in accordance with the 1933 Act and
the Rules and Regulations of the Securities and Exchange Commission promulgated
thereunder.

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         (c) It has been advised and is aware of the fact, that by reason of the
foregoing investment representations and restrictions upon transfer: (i) the
shares of the Buyer's Common Stock, the shares of the Buyer's 2006 Series of
Convertible Preferred Stock, and the Buyer's Common Stock Purchase Warrants must
be held indefinitely unless they are subsequently registered under the 1933 Act
or an exemption from such registration is available; (ii) if Rule 144 of the
Rules and Regulations promulgated by the SEC is applicable to any future routine
sales of any such securities, such sales can be made only in limited amounts in
accordance with the terms and conditions of that Rule; (iii) in the case of
securities to which that Rule is not applicable, compliance with some applicable
disclosure exemption, if any be available, will be required; (iv) all of the
certificates for the shares of Buyer's Common Stock and its Common Stock
Purchase Warrants will bear a legend restricting transfer thereof; and (v) the
Transfer Agent of Buyer's Common Stock will be given "stop-transfer"
instructions so as to prevent any illegal transfer of such shares or warrants.

         (d) It has relied only and exclusively upon its own investigation into
Buyer and its financial condition for purposes of deciding to enter into and
close this Agreement and to accept shares of Buyer's Common Stock and 2006
Series of Convertible Preferred Stock and Common Stock Purchase Warrants in
exchange for its Assets. It has not relied upon any oral or written
representation made by Buyer or any of its officers or directors or
representatives of Buyer and that no representation, or statements shall survive
the Closing with the sole exception of the representations and warranties
contained in this Agreement.

         (e) It has received the audited financial statements of the Buyer for
the periods ended March 31, 2005 and March 31, 2006, as well as the Buyer's
10-KSB for the fiscal year ended March 31, 2006 and the Buyer's 10-QSB for the
fiscal quarter ended September 30, 2006, and Buyer's 8-K for September 22, 2006,
and has had full opportunity to review and inspect all books and records of
Buyer.

                                       6

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         3.3 Liquidation of Seller; Liquidating Trust. Seller acknowledges
awareness that (i) following the transfer of the Assets it is required by the
Code to dissolve and in connection therewith to distribute the Buyer's
securities to its shareholders, (ii) the securities being issued have not been
registered with the Securities and Exchange Commission and cannot be distributed
without either an effective registration statement or an eligible exemption from
such registration, and (iii) it must use a liquidating trust to hold the Buyer's
securities for the benefit of its shareholders, pending the ability to make a
legal distribution thereof. Seller agrees to establish such a liquidating trust
for the benefit of its shareholders and to transfer the Common Stock and Common
Stock Purchase Warrants to such trust pending compliance by Buyer with
Securities and Exchange Commission requirements for their distribution.

         3.4 Piggy-back Registration Rights. If, during a period of twelve (12)
months following Closing, Buyer shall file a registration statement under the
Securities Act of 1933 with the Securities and Exchange Commission, it shall
give at least thirty (30) days prior notice of such filing to the trustees of
the liquidating trust. If the trustees so elect, and give written notice to
Buyer within five (5) business days after notice from Buyer, Buyer shall include
such shares of its C ommon Stock, its 2006 Series of Convertible Preferred
Stock, its Common Stock Purchase Warrants, and the Common Stock underlying the
Warrants in the registration statement as the trustees shall elect.

         3.5 Demand Registration Rights. Unless the shares have been registered
pursuant to Section 3.4 during the initial twelve month period, at any time
thereafter, the trustees of the liquidating trust may serve written demand on
Buyer that the shares held by the trust and the shares issuable upon exercise of
the warrants held by the trust be registered. Buyer shall, upon receipt of such
a demand, in good faith, and with all deliberate speed, effect the filing of a
registration statement for such shares and shall prosecute such registration
statement to effectiveness.

                                       7

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                                   ARTICLE IV
                        CLOSING AND CONDITIONS OF CLOSING

         4.1 Closing. The Closing shall occur upon the later of (i) the close of
business on December 31, 2006 or (ii) as soon thereafter as practicable
following the satisfaction or waiver of all of the Conditions to Closing set
forth in Section 4.2 of this Agreement (the "Closing Date").

         4.2 Conditions to Closing. The obligations of Seller to sell the Assets
and Buyer to purchase the Assets are subject to the satisfaction of the
following conditions precedent at or prior to the Closing (unless waived in
writing by the Parties prior to Closing or by the act of Closing):

         (a) Documents. Buyer shall have received each of the following items:

         (i) This Agreement, duly executed by Seller;

         (ii) Any amendment, consent or waiver from any Person necessary to
fully give binding effect to this Agreement, including but not limited to
consents to the assignment of contracts and leases, duly executed by Seller and
such Persons (the "Consents") (each party hereto acknowledges that this
condition is for the benefit of both Buyer and Seller;

         (iii) A Bill of Sale duly executed by Seller; (iv) Such certificates,
documents of title and other instruments of conveyance and transfer, if any, as
shall be effective to vest in Buyer good and marketable title in and to the
Assets free and clear of all encumbrances; and

         (v) An Officer's Certificate, duly executed by an officer of Seller.

                                       8

<page>

         (b) Documents. Seller shall have received each of the following items:

         (i) This Agreement, duly executed by Buyer;

         (ii) An Assumption Agreement duly executed by Buyer;

         (iii) An Officer's Certificate duly executed by an officer of Buyer;

         (iv) The Buyer's Common Stock, 2006 Series of Convertible Preferred
Stock and Common Stock Purchase Warrants; and

         (v) A fairness opinion from Corporate Valuation Advisors, Inc. To the
effect tht the consideration being paid is fair and adequate.

         (d) Employees. Seller and Buyer understand and agree that Seller shall
terminate the employment of its employees, so that Buyer shall not be assuming
any liability with respect thereto. Before or promptly upon the execution of
this Agreement, Buyer may, at its option, offer employment to any of the
terminated employees and shall have sole responsibility for the negotiation of
employment agreements with such employees.

         (d) Approval. Seller shall have received the approval of both its board
of directors and its shareholders authorizing the consummation of the
transactions contemplated by this Agreement.

         (d) Material Adverse Effect. Prior to the Closing Date, neither party
shall have experienced a Material Adverse Effect relating to (i) the Assets or
(ii) the ability of Seller or Buyer to perform their respective obligations
under this Agreement.

         (e) Litigation. On the Closing Date, there shall be no lawsuits pending
against either party hereto seeking to enjoin, prohibit, restrain or otherwise
prevent the transaction contemplated by this Agreement.

                                        9

<page>

         (f) Other Documents. The provision and/or execution of such other
documents relating to the transactions contemplated by this Agreement as Buyer
may reasonably request.

                                    ARTICLE V
                    REPRESENTATIONS AND WARRANTIES OF SELLER

         Seller represents and warrants to Buyer as of the date hereof (which
representations and warranties shall survive the execution and delivery of this
Agreement and the transfer of the Assets), as set forth below:

         5.1 Qualification. Seller represents that it is duly qualified to
conduct business as it is currently being conducted and is in good standing as a
foreign corporation in all jurisdictions in which the nature of its business or
location of its owned and leased property and assets requires such
qualification, except where failure to be so qualified would not have a Material
Adverse Effect.

         5.2 Litigation. There are no outstanding orders, judgments, writs,
injunctions. or decrees of any court, Government Authority or arbitration or
mediation panel or tribunal against or affecting the Assets.

         5.3 Non-Contravention. Seller is not in breach of, default under, or in
violation of any Applicable Law, decree or order that may cause a Material
Adverse Effect relating to the Assets and Seller is not in breach of, default
under, or in violation of any deed, lease, loan agreement, commitment, bond,
note, deed of trust, restrictive covenant, license, indenture, contract or other
agreement, instrument or obligation to which it is a party or by which it is
bound or to which any of its respective assets is subject that may cause a
Material Adverse Effect on the Assets.

                                       10

<page>

         5.4 Title. Seller has good, complete, indefeasible and marketable title
to, and ownership of, all of the Assets, free and clear of all liens, defects,
claims, security interests and encumbrances.

         5.5 Taxes. Seller has filed all Tax Returns that are required to be
filed and has duly paid or fully reserved for all taxes or installments thereof
(including any interest or penalties) as and when due or which have or may
become due pursuant to said returns or pursuant to any assessment received by
Seller.

         5.6 Subsidiaries. Seller has no subsidiaries, affiliates, partnerships
nor any other commonly controlled or related entities.

         5.7 Intellectual Property. Seller owns, or possesses adequate rights to
use, all intellectual property (including but not limited to any patents,
patents pending, trademarks, and copyrights) necessary for the conduct of its
business and neither Seller nor any of its officers have received any notice of
conflict with, or infringement of, the asserted rights of others with respect to
any such intellectual property, and neither Seller nor any of its officers knows
of any reasonable basis therefor.

         5.8 Legal Compliance. To its knowledge, Seller: (i) is not in violation
of any Applicable Law that would apply to it or to its business, the violation
of which would cause a Material Adverse Effect on the Assets; (ii) is not in
violation of any applicable environmental, securities or employee benefits law,
which violation would cause a Material Adverse Effect on the Assets; and (iii)
neither Seller nor, to the knowledge of Seller, any of Seller's agents,
contractors or employees has been notified of any action, suit, proceeding or
investigation which calls into question compliance by Seller.

                                       11

<page>

         5.9 Licenses. Simultaneously with the Closing, Seller shall have
acquired good title or all necessary rights to all of the licenses, permits,
approval and authorizations needed to transfer the Assets to Seller in
compliance with all Applicable Laws.

         5.10 Undisclosed Liabilities. The Seller does not have any liabilities
(whether known or unknown, whether absolute or contingent whether liquidated or
unliquidated and whether due or to become due), except for (a) liabilities that
will be accrued for or reserved against in the December 31, 2006 balance sheet,
and (b) contractual or statutory liabilities incurred in the ordinary course of
business which are not required to be reflected on a balance sheet. There are no
outstanding loans due or deferred compensation from Seller to any employee of
Seller.

         5.11 Assets. The Assets are in good operating condition (subject to
normal wear and tear) and are suitable for the purposes for which they are used
in Seller's business.

                                   ARTICLE VI
                     REPRESENTATIONS AND WARRANTIES OF BUYER

         Buyer represents and warrants to Seller as of the date hereof (which
representations and warranties shall survive the execution and delivery of this
Agreement and the transfer of the Assets) as set forth below:

         6.1 Qualification. Buyer represents that it is duly qualified to
conduct business as it is currently being conducted and is in good standing as a
foreign corporation in all jurisdictions in which the nature of its business or
location of its owned and leased property and assets requires such qualification
except where failure to be so qualified would not have a Material Adverse
Effect.

                                       12

<page>

         6.2 Litigation. There are no outstanding orders, judgments, writs,
injunctions or decrees of any court, Government Authority or arbitration or
mediation panel or tribunal against or involving Buyer likely to have a Material
Adverse Effect.

         6.3 Non-Contravention. Buyer is not in breach of, default under, or in
violation of any Applicable Law, decree or order that may cause a Material
Adverse Effect, and Buyer is not in breach of, default under, or in violation of
any deed, lease, loan agreement, commitment, bond, note, deed of trust,
restrictive covenant, license, indenture, contract or other agreement,
instrument or obligation to which it is a party or by which it is bound or to
which any of its respective assets is subject that may cause a Material Adverse
Effect.

         6.4 Taxes. Buyer has filed all Tax Returns that are required to be
filed and has duly paid or fully reserved for all taxes or installments thereof
(including any interest or penalties) as and when due or which have or may
become due pursuant to said returns or pursuant to any assessment received by
Buyer.

         6.5 Legal Compliance. To its knowledge, (i) Buyer is not in violation
of any Applicable Law that would apply to it or to its business, the violation
of which would cause a Material Adverse Effect, (ii) Buyer is not in violation
of any applicable environmental, securities or employee benefits law, which
violation would cause a Material Adverse Effect, and (iii) neither Buyer nor, to
the knowledge of Buyer, any of Buyer's agents, contractors or employees has been
notified of any action, suit, proceeding or investigation which calls into
question compliance by Buyer.

         6.6 Shares and Corporate Documents. All of the Buyer's securities to be
issued hereunder have been duly authorized and when issued, the shares of Common
Stock and the 2006 Series of Convertible Preferred Stock will be valid and
legally issued shares, fully paid and nonassessable, free and clear of all liens
or encumbrances, and not in violation of any preemptive or similar rights or any
securities laws. Prior to the Effective Date, Buyer has delivered to Seller a
true, correct, and complete copy of the current certificate of incorporation and
bylaws of Buyer.

                                       13

<page>

         6.7 Undisclosed Liabilities. The Buyer does not have any liabilities
(whether known or unknown, whether absolute or contingent whether liquidated or
unliquidated and whether due or to become due), except for (a) liabilities that
will be accrued for or reserved against in the December 31, 2006 balance sheet,
and (b) contractual or statutory liabilities incurred in the ordinary course of
business which are not required to be reflected on a balance sheet. Buyer's
balance sheet and the related income statement were prepared in accordance with
generally accepted accounting principals and fairly present the assets,
liabilities, financial condition and results of operations of Buyer as of the
date indicated and for the period referred to therein. Except as disclosed in
writing to Buyer, there have been no events, changes or effects with respect to
Buyer or its subsidiaries that, individually or in the aggregate, have had or
reasonably would be expected to have had a Material Adverse Effect.

                                  ARTICLE VIII
                      MUTUAL REPRESENTATIONS AND WARRANTIES

         Each party hereto represents and warrants to the other party as of the
date hereof (which representations and warranties shall survive the execution
and delivery of this Agreement and the transfer of the Assets) as set forth
below:

         7.1  Organization; Good-Standing.

         (a) Seller is a corporation duly formed, validly organized and in good
standing in the State of Delaware.

         (b) Buyer is a corporation duly formed, validly organized and in good
standing, in the State of Nevada.

                                       14

<page>

         7.2 No Untrue Statements or Material Omissions. Each party hereto
represents to the other party hereto, on its own respective behalf, that no
statement in writing furnished by such party to the other party in connection
with the transactions contemplated herein contains any untrue statement of
material fact or omits to state a material fact necessary to make the statement
not misleading in any material respects.

         7.3 No Default. Each party hereto represents to the other party, on its
own respective behalf, that neither the execution and delivery of this Agreement
nor the performance by such party of its respective obligations hereunder will
cause any such breach, default or violation or will require the consent or
approval of any court or governmental authority, except as expressly
contemplated by the terms of this Agreement.

         7.4 Power and Authority. Each party hereto represents to the other
party, on its own respective behalf, that (i) it has full power and authority to
enter into this Agreement any other related documents, to incur the obligations
as contemplated hereby, and to carry out the provisions of this Agreement; and
(ii) it has taken all action necessary for the execution and delivery of this
Agreement and each of the other related documents and for the performance of
each of its obligations hereunder, and thereunder, as evidenced by corporate
resolution(s) or other authorization.

         7.5 Enforceability. Upon execution and delivery by each of the parties
hereto, this Agreement and any other related document shall be the legal, valid
and binding obligations of each party and shall be enforceable against each
party in accordance with their respective terms.

                                       15

<page>

                                  ARTICLE VIII
                            TERMINATION OF AGREEMENT

         This Agreement may be terminated at any time prior to the Closing:

         (a) By written agreement of Buyer and Seller.

         (b) By Buyer, upon ten (10) days' prior written notice to Seller if (i)
there has been a material violation or breach by Seller of any of the
agreements, representations or warranties contained in this Agreement, or (ii)
if any of the conditions set forth in Section 4.2 have not been materially
satisfied by the Closing, and either (i) or (ii) have not been waived in writing
by Buyer or cured within such ten-day period; or (iii) if, in the opinion of the
Buyer, information obtained by it during due diligence on Seller subsequent to
this Agreement discloses any matter which Buyer believes warrants termination.

         (c) By Seller, upon ten (10) days' prior written notice to Buyer if (i)
there has been a material violation or breach by Buyer of any of the agreements,
representations or warranties contained in this Agreement, or (ii) if any of the
conditions set forth in Section 4.2 have not been materially satisfied by the
Closing, and either (i) or (ii) have not been waived in writing by Seller or
cured within such ten-day period, or (iii) if, in the opinion of the Seller,
information obtained by it during due diligence on Buyer subsequent to this
Agreement discloses any matter which Seller believes warrants termination.

         (d) By either party hereto if the transactions contemplated by this
Agreement shall not have been consummated on or before 5:00 p.m prevailing
Eastern time on February 16, 2007.

         (e) By either party hereto if the other makes an assignment for the
benefit of creditors, commits an Act of Bankruptcy, files a voluntary petition
in bankruptcy or seeks or consents to any reorganization or similar relief under
any present or future bankruptcy act or similar law, or is adjudicated a
bankrupt or insolvent, or if a third party commences any bankruptcy, insolvency,
reorganization or similar proceeding involving, the other.

                                       16

<page>

                                   ARTICLE IX
                                  MISCELLANEOUS

         9.1 Non-Waiver. No course of dealing between the parties or any failure
or delay on the part of either party in exercising any rights or remedies
hereunder shall operate as a waiver of any rights or remedies of either party
under this or any other applicable instrument. No single or partial exercise of
any rights or remedies hereunder shall operate as a waiver or preclude the
exercise of any other rights or remedies hereunder.

         9.2  Indemnification.

         (a) Seller. Seller hereby agrees to defend, indemnify and hold harmless
Buyer against any and all actions, suits, proceedings, claims, demands,
judgments, costs and expenses directly related to or arising from (i) the breach
of a representation or warranty by Seller herein or the documents delivered at
Closing or (ii) any liabilities of Seller not assumed by Buyer at Closing.

         (b) Buyer. Buyer hereby agrees to defend, indemnify and hold harmless
Seller against any and all actions, suits, proceedings, claims, demands,
judgments, costs and expenses directly related to or arising from (i) the breach
of a representation or warranty by Seller herein or the documents delivered at
Closing or (ii) any of the Assumed Liabilities.

         (c) Procedure. The indemnified party shall promptly notify the
indemnifying, party in writing of any claim, demand, action or proceeding for
which indemnification will be sought under Sections 9.2(a) or 9.2(b), and, if
such claim, demand, action or proceeding is a third party claim, demand, action
or proceeding, the indemnifying party will have the right at its expense to
assume the defense thereof using counsel reasonably acceptable to the
indemnified party. The indemnified party shall have the right to participate, at
its own expense, with respect to any such third party claim, demand, action or
proceeding. In connection with any such third party claim, demand, action or
proceeding, Buyer and Seller shall cooperate with each other and provide each
other with access to relevant books and records in their possession related to

                                       17

<page>

such claim. No such third party claim, demand, action or proceeding shall be
settled without the prior written consent of the indemnified party, which
consent shall not be unreasonably withheld. If a firm written offer is made to
settle any such third party claim, demand, action or proceeding, which offer
does not involve any injunctive or non-monetary relief against the indemnified
party, and the indemnifying party proposes to accept such settlement and the
indemnified party refuses to consent to such settlement, then: (i) the
indemnifying party shall be excused from, and the indemnified party shall be
solely responsible for, all further defense of such third party claim, demand,
action or proceeding and (ii) the maximum liability of the indemnifying party
relating to such third party claim, demand, action or proceeding shall be the
amount of the proposed settlement if the amount thereafter recovered from the
indemnified party on such third party claim, demand, action or proceeding is
greater than the amount of the proposed settlement. In the event that Buyer or
Seller shall fail to make such commercially reasonable efforts to mitigate or
resolve any claim or liability, then notwithstanding, anything else to the
contrary herein, the other party shall not be required to indemnify any person
for any Losses that could reasonably be expected to have been avoided if Buyer
or Seller, as the case may be, had made such efforts.

                                       18

<page>

         9.3 Notices. All notices or communications under this Agreement shall
be to the following addresses (or to such other address as shall at any time be
designated by any party in writing to the other parties):

         To Buyer:                  Global Resource Corporation
                                    Bloomfield Business Park
                                    408 Bloomfield Drive, Unit 3
                                    West Berlin, New Jersey 08091

         To Seller:                 Mobilestream Oil Corporation
                                    Bloomfield Business Park
                                    408 Bloomfield Drive, Units 1&2
                                    West Berlin, New Jersey 08091

         With a copy to:            Richard C. Fox, Esq.
                                    P.O. Box 1097
                                    Pecos, NM 97552

Notice shall be deemed given three days after deposit in the U.S. mail, postage
prepaid, or one day after deposit with a nationally recognized overnight
delivery service. Rejection or other refusal to accept, or the inability to
deliver because of a changed address of which no notice was given, shall not
affect the effectiveness or the date of delivery for any notice sent in
accordance with the foregoing provisions.

         9.4 Binding Agreement; Survival. This Agreement shall inure to the
benefit of, and be binding upon, Seller and Buyer, and their respective
legatees, distributees, estates, executors, administrators, personal
representatives, successors and assigns, and other legal representatives. All
representations, warranties, covenants and agreements by the parties contained
in this Agreement shall survive the Closing for a period of one (1) year from
the Closing Date.

         9.5 Entire Agreement; Integration Clause. This Agreement and the
Exhibits hereto set forth the entire agreement and understanding of the parties
hereto with respect to this transaction, and any prior agreements, including the
Memorandum of Understanding of October 25, 2006, are hereby merged herein and
terminated.

                                       19

<page>

         9.6 Brokers' or Finders' Fees. No agent, broker, person, or firm acting
on behalf of either party or any of their subsidiaries or under the authority of
any of them is or will be entitled to any commission or broker's or finder's fee
or financial advisory fee in connection with any of the transactions
contemplated herein.

         9.7 No Oral Modification or Waivers. The terms herein may not be
modified or waived orally, but only by an instrument in writing signed by the
party against which enforcement of the modification or waiver (as the case may
be) is sought.

         9.8 Controlling Law; Venue. This Agreement and each of the other
documents ancillary hereto shall be governed by, and interpreted and construed
in accordance with, the internal laws of the State of New Jersey (without regard
to its conflicts of law principles). Venue for the adjudication of any claim or
dispute arising out of this Agreement or any of the other ancillary documents
shall be proper only in the state or federal courts of the State of New Jersey,
and all parties to this Agreement and its ancillary documents hereby consent to
such venue.

         9.9 Headings. The headings of this Agreement and each of the other
documents ancillary hereto are inserted for convenience only and shall not be
deemed to constitute a part of this Agreement or such ancillary documents.

         9.10 Severability. To the extent any provision herein violates any
applicable law, that provision shall be considered void and the balance of this
Agreement shall remain unchanged and in full force and effect.

                                       20

<page>

         9.11 Public Disclosure. Seller acknowledges that Buyer is a reporting
company under the Securities Exchange Act of 1934 and must disclose this
Agreement and the terms and conditions hereof. Accordingly, Seller authorizes
Buyer to issue such press release and file such periodic report as may be
required.

         9.12 Counterparts. This Agreement may be executed in as many
counterpart copies as may be required. All counterparts shall collectively
constitute a single agreement.

         9.14 Third Party Beneficiary. This Agreement shall not confer any
rights or remedies upon any person other than the parties and their respective
successors and permitted assigns.

         9.15 Expenses. Each party shall be responsible for its own costs and
expenses (including legal, financial advisory, investment banking and accounting
fees and expenses) incurred in connection with this Agreement and the
transactions contemplated hereby.

         9.16 Tax Treatment. Buyer and Seller hereby agree and covenant that
they shall not (before or after the Closing Date and individually or
collectively) take any action and shall not (before or after the Closing) fail
to take any action which action or failure to act would prevent, or would be
reasonably likely to prevent, the transactions contemplated hereby from
qualifying as a reorganization within the meaning of Section 368(a)(l)(D) of the
Code.

         9.17 Dissolution. Buyer and Seller hereby agree that from and after the
Closing Date, Seller will not engage in any new business, will promptly
liquidate and dissolve as a corporation, and will distribute the Buyer's Common
Stock, 2006 Series of Convertible Preferred Stock and its Common Stock Purchase
Warrants to a liquidating trust for the benefit of Sellers' shareholders,
pending compliance by Buyer with Securities and Exchange Commission rules and
regulations pertaining to a distribution of such shares.

                                       21

<page>

         In Witness Whereof, the undersigned have executed and delivered this
Plan and Agreement of Reorganization as of the day and year first above written.

                                            GLOBAL RESOURCE CORPORATION

                                            By:
                                                --------------------------------

                                            MOBILESTREAM OIL CORPORATION

                                            By:
                                                --------------------------------

                                       22

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