SOURCE: American Petroleum Group, Inc.

October 24, 2005 15:36 ET

American Petroleum Group, Inc. Announces Sales Commitments for Future Production

HOFFMAN ESTATES, IL -- (MARKET WIRE) -- October 24, 2005 -- American Petroleum Group, Inc. (OTC BB: AMPE) announced today that it has received additional commitments from several strategic customers for over 250,000 gallons/month of finished motor oil. The commitments stem from efforts to secure customers for American's planned increase in production based on its recent acquisition of Triton Petroleum in Detroit, Michigan.

George Campbell, president and CEO of APG, stated, "We are very pleased to obtain these commitments. We have seen steady organic sales growth all year. The new supply of oil from Detroit, combined with high petroleum prices, should continue to drive strong demand for our non-premium motor oils. We are continuing to expand our distribution channel and anticipate more positive announcements in the next several months."

About American Petroleum Group

American Petroleum Group, Inc. (the "Company") is a Chicago area-based holding company with an agenda to acquire, merge, and manage various business opportunities. The Company's current direction is in the manufacturing and distribution of petroleum and related products for the automotive industry through its subsidiary, American Petroleum Products Company (APPC). APPC primarily serves the motor oil industry through the distribution of bulk and bottled motor oil products. American Petroleum Group's management specializes in the private label bottling sector for some of the major oil companies in the U.S. American Petroleum Group also plans to pursue opportunities for private labeling of motor oils with several well known retail chains throughout the United States. APPC is also pursuing several antifreeze and brake fluid private distribution agreements with well known national automotive repair facilities. Another area for growth being pursued by APPC is in the recycling of "uncombusted" oils, through a new marketing relationship with a Michigan-based company.

Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended, that are based on management's exercise of business judgment as well as assumptions made by, and information currently available to, management. When used in this document, the words "may," "will," "anticipate," "believe," "estimate," "expect," "intend," and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as noted in our securities and other regulatory filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation and do not intend to update, revise, or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.

Contact Information

  • Contact:
    George Campbell