GlobalNet Energy to Exchange Stock With Petro Probe, Inc.; Aggressive E&P Buying Subsidiary with Proprietary Exploration Technology from Earth Search Sciences, Inc.

Business Editors

DENVER--(BUSINESS WIRE)--Sept. 26, 2001

GlobalNet Energy, Inc. (Pink Sheets:GNEQ) has announced the acquisition of Petro Probe, Inc. (PPI), a wholly owned subsidiary of Earth Search Sciences, Inc. (OTCBB:EDIS), which holds proprietary hyperspectral imaging technology used to identify oil and gas reserves.

Under the terms of the agreement, GlobalNet Energy (GNE) will purchase all 149,717,502 shares of PPI stock from current shareholders in exchange for 4,990,583 shares of GNE common stock, and 4,491,525 shares of GNE Series C Voting Convertible Preferred Stock. GNE will also pay Earth Search Sciences, Inc. the sum of $3 million on or before February 28, 2002 to satisfy PPI's previous agreement to purchase the Petro Probe-1 hyperspectral imaging unit.

The acquisition gives GlobalNet Energy a unique advantage in the rapid identification and development of domestic high return shallow and deep well operations. GNE intends to aggressively deploy the PROBE-1 technology to rapidly grow its E&P model, and will leverage technology, management and industry expertise for identification, development and delivery of significant reserves in the U.S. in the next 12-24 months.

"This represents a tremendous opportunity for GlobalNet Energy to accelerate our business model and capitalize on growing interest in domestic oil and gas reserves," said Andrew J. Kacic, president and chief executive officer of GNE. "Our exclusive ownership of the PROBE-1 technology will allow us to identify shallow and deep well resources in the U.S. ahead of our competitors."

Kacic noted that the Petro Probe technology, with an increased success rate, will allow GNE to leverage resource location data to develop high-return equity positions in advance of development. The Company will then participate in revenues from the output of the well commensurate to its equity position.

The acquisition also provides for a simultaneous restructuring of GNE (formerly GlobalNet Equities, Inc.), upon which the existing officers and directors will resign, and a new Board of Directors will serve. The new Board will consist of Andrew J. Kacic, Leonard K. Nave, Timothy J. Monroe and Larry F. Vance.

Through its acquisitions of Petro Probe, Inc. and Sterling Energy, Inc., GNE has laid the foundation for rapid growth of oil and gas assets in several key areas of the U.S. The Company is also generating revenues from Petro Probe's equity in the Falcon No. 2 well in Lafayette Parish, Louisiana.

About Earth Search Sciences, Inc. and Petro Probe, Inc.

Earth Search Sciences, Inc. (OTCBB:EDIS), based in Kalispell, Mont., is a leading developer of breakthrough remote sensing technology for data collection, data processing, data marketing, and data delivery. Since 1994, the Company has teamed with major aerospace and technology firms to refine its PROBE-1 system, a proprietary hyperspectral remote sensing technology with strong commercial applications in mining exploration, oil and gas exploration, environmental monitoring and other business channels. Earth Search Sciences, Inc. (ESSI) has improved and commercialized the hyperspectral imaging technology, while reducing the size and weight of the instrument for use in light aircraft. Currently, in conjunction with the U.S. Navy, the Company is preparing for the launch of PROBE-1 with the NEMO satellite in early 2002.

In January 2000, ESSI established Petro Probe, Inc. as the first of several wholly owned subsidiary companies created to capitalize on industry-specific uses of the PROBE-1 technology. PPI, focused on the multi-billion dollar E&P industry, is an exploration and development company with exploration interests in a number of strategic basins worldwide.

About GlobalNet Energy, Inc.

GlobalNet Energy Corp. (Pink Sheets:GNEQ), formerly GlobalNet Equities, was formed in 2001 to capitalize on unique technology and development opportunities within the E&P sector. The company has acquired exclusive use of a proprietary hyperspectral remote sensing technology through acquisition of controlling interest in Petro Probe, Inc., a subsidiary of Earth Search Sciences, Inc., (OTCBB: EDIS). The Petro Probe technology allows GNE to leverage the knowledge to develop high-return equity positions in advance of development. The Company then participates in revenues from the output of the well commensurate to its equity position. Additionally, GNE recently acquired Sterling Energy Inc. (SEI), a Nevada corporation engaged in the business of exploring, producing, marketing and transporting natural gas. The acquisition, completed earlier this month, brought GNE additional proven oil and gas acreage in the Appalachian region; a permit to a 4,000 acre lease of oil and gas rights with permit for an additional 40 wells to be drilled on acreage adjoining the proven acreage presently being drilled; 12 additional wells that are in the process of being connected to pipelines; and oil and gas leases to approximately 2,000 acres in Overton and Clark Counties, Tennessee.

For more information about GNE, go to www.globalnetenergy.com or call Andrew J. Kacic at 520/907-2100.

FORWARD LOOKING STATEMENTS. Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995 and rules and regulations of the Securities and Exchange Commission. These forward- looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks include decreases in natural gas prices and the state of the energy industry generally, the availability of natural gas leases on acceptable terms, increases in exploration and production costs, and the availability of financing in needed amounts on acceptable terms. Globalnet disclaims any intent or obligation to update these forward-looking statements. The closing of this acquisition is subject to typical conditions and covenants, including among others EDIS's satisfactory completion of its due diligence regarding GlobalNet and its operation, and the requirement that GlobalNet pay a minimum of $250,000 in cash to EDIS as a down payment on the probe. There is no assurance that the proposed acquisition of PPI will be completed.