SOURCE: 800 Commerce, Inc.

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March 17, 2016 08:30 ET

800 Commerce Inc. Announces Update and Filing of Name Change to Petrogress, Inc.

Company Name Change to "Petrogress, Inc." Represents New Business and Operations of Petroleum Products With Revenues Over $20 Million in Oil and Shipping Sales for 2015, as Oil Prices Rebound

LOS ANGELES, CA--(Marketwired - March 17, 2016) -  800 Commerce Inc. (OTC PINK: ETHG) (www.800Commerce.com), a fully reporting company, today announced that the Company has filed all necessary documents for the name change to "Petrogress, Inc." on behalf of the public parent Company with FINRA and the state of Florida. 800 Commerce Inc., on February 29th, 2016, acquired 100% of Petrogres Co. Limited, (www.petrogres.com) including its logistics-sea transport and Liquefied Natural Gas trading subsidiaries.

The Company has requested an effective date of March 25, 2016, for the name change and a new symbol to be effective. Present shareholders and new investors will be notified when the name and symbol change takes effect. The Company has also requested a new CUSIP to be effective with the name and symbol change. Shareholders of certificates may trade the shares with existing certificates and are not required to have new certificates issued.

Founded in 2009, Petrogres has become a majority player as an oil commodity and integrated company in West Africa. Petrogres provides the supply of crude oil that is shipped by its owned tanker fleet and delivered to the local refineries and buyers. The Company plans to expand this proven model of its operations/business to other continents over the near term. Management for Petrogres combines regional market knowledge and excellence, with over 25 years' experience in maritime management. Petrogres has earned a reputation for reliably in marketing and moving petroleum products primarily in West Africa. Immediate plans for expansion are underway through new builds/lease LNG vessels in US to be used for the supply and sea freight of US LNG (Liquefied Natural Gas) export.

The Company (Petrogress Inc.) will primarily trade as a holding Company of three separate, wholly owned subsidiaries:

1) Petrogres Co. Limited - a Marshall Islands Corporation business includes all gas, crude oil purchases and sales as well as oil refinery and storage partnerships;

2) Petronav Carriers LLC - a Delaware Corporation formed to manage the day to day and entire operations/handling of the four tankers fleet owned to four independent corporations respectively, representing over $6,000,000 in assets;

3) Petrogress Oil & Gas Energy Inc. - a Texas Corporation formed to potentially purchase oil fields in Texas, to involve into oil refinery production based in the US and to further execute on present opportunities and contracts now under negotiation within the Liquefied Natural Gas (LNG) sector.

A recent article by Bloomberg stated Oil prices have jumped 46 percent since mid-February, with WTI approaching $40 a barrel from a low of $26.21 barrel in February, which seems to support the brighter outlook. 

The full article may be found here:
http://www.bloomberg.com/gadfly/articles/2016-03-13/the-reason-for-the-oil-price-surge

"With a recent surge in oil prices and trading and consistent climbing of the overall market place, we couldn't have picked a more perfect time to enter the public markets to expand our reach within the oil and natural gas sector. We are presently negotiating several opportunities within the LNG sector, seeking to increase our oil sales operations and we have at least two investment banking relationships seeking to fund our operations to increase production and participate in institutional ownership creating visibility for Petrogress within the sector,"  stated Christos Traios CEO of 800 Commerce.

About Petrogres Co Limited

Founded in 2009, Petrogres www.Petrogres.com has become a majority player as a shipping and oil trading company in West Africa. The company presently owns and operates four vessels in separate subsidiaries operating as a merchant of crude oil and oil products. By combining regional market knowledge and excellence with over 25 years of shipping experience the Company has earned a reputation for reliably marketing and moving petroleum products primarily in West Africa with immediate plans for expansion through new LNG (Liquid Natural Gas) vessel builds.

FORWARD-LOOKING DISCLAIMER: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 800 Commerce, Inc. to be materially different from the statements made herein.

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