SOURCE: Perihelion Global

January 04, 2008 10:07 ET

Perihelion Global and Petroleum Distributor Crew Distributing Co., Inc. Execute 5 Year Biofuel Purchase, Distribution & Marketing Agreement

OPP, AL and SANTA ROSA BEACH, FL--(Marketwire - January 4, 2008) - Perihelion Global (PINKSHEETS: PHGI) today announced that the company has executed a formal 5 year agreement with Petroleum Distributor Crew Distributing Co., Inc. to purchase, distribute and market Biodiesel from the company's Opp, Alabama Biofuel Refinery.

The 5 year Purchase, Distribution & Marketing agreement calls for Crew Distributing to purchase the permitted production capacity of (currently permitted for approximately 3 Million Gallons annually) Perihelion's Opp Refinery. Additionally, Crew Distributing has secured a first right of purchase, distribution and marketing option on all increases in production capacity for the Opp Refinery. The Opp Refinery is planned to have annual production of 60 Million gallons per year with the Phase Two addition.

The new 5 year Purchase, Distribution and Marketing agreement greatly expands on the previously announced Letter of Intent for Crew Distributing to purchase 1.2 million gallons of Biodiesel from Perihelion. Under the formal agreement that is being announced today, Crew Distributing will also provide logistical transport, distribution, marketing and additional storage capacity and for all Biofuel produced at the Opp Refinery.

With over 30 years experience, Crew Distributing, Co., Inc. is a major oil company distributor, operates a fleet of tanker trucks and is licensed, bonded and insured to distribute petroleum fuels, chemicals and lubricants in the Southeastern United States to portions of Alabama, Georgia, Mississippi and Florida. Crew Distributing also owns and operates several major oil company branded retail gas stations.

"We are very excited to announce this formal agreement with Crew Distributing to our shareholders," stated John H. Beebe, Chairman, Chief Executive Officer & President of Perihelion Global. "Crew Distributing's decades of experience combined with their existing distribution capability, infrastructure and sterling reputation makes an ideal partnership for our company."

The company continues to receive numerous employment inquires for the Opp Biofuel Refinery. Employment information is available on the Opp, Alabama Chamber of Commerce website at http://www.oppchamber.com

All parties interested in employment opportunities with Perihelion are reminded that resumes may be submitted to employment@perihelion.com for consideration (in Microsoft Word format).

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace. Website: http://www.perihelionglobal.com

About Crew Distributing Co., Inc.:

Crew Distributing, Co., Inc. is a Chevron/Texaco distributor and for over 30 years has distributed petroleum fuels, chemicals and lubricants to portions of Alabama, Georgia, Mississippi and Florida in the Southeastern United States. Crew Distributing, Co., Inc. also owns and operates retail gas stations.

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- General economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • John H. Beebe
    Chairman, Chief Executive Officer & President
    Perihelion Global
    866-748-7610 (Toll Free) x 719
    john@perihelion.com