SOURCE: FuelNation

February 13, 2007 15:05 ET

FuelNation to Acquire Baltic Sea Assets

WEST PALM BEACH, FL -- (MARKET WIRE) -- February 13, 2007 -- We are pleased to report that FuelNation (PINKSHEETS: FLNA) has reached additional milestones for the company, and its shareholders.

Our office in Moscow, Russia, informed us that our joint venture NIKA Oil has signed a memorandum of understanding with OAO Gazprom regarding NIKA Oil exporting crude oil from Russia starting the first quarter of 2007. In addition, we have been informed our application to acquire the energy assets located on the Baltic Sea has been approved. The directors of NIKA Oil stated, "This will be one of the larger acquisitions on the Baltic Sea, and we are confident the shareholders will be proud to be a part of it."

FuelNation will be notifying shareholders to vote on the acquisition of the Baltic Sea acquisition and corporate structure upon receiving the final purchase agreement from the seller. We would like to request that all shareholders please make sure they have the correct mailing address at their brokerages. In addition, if you have your stock certificates in your possession and need to change your address, please notify our stock transfer agent by mail at: Continental Stock Transfer & Trust Company, 17 Battery Place, New York, NY 10004.

We intend to finish the audit for FuelNation upon completion of the asset purchase located on the Baltic Sea. In addition, after filing the audit with the Securities and Exchange Commission, we will make application to list the company on a national stock exchange.

Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. FuelNation cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact Information

  • FuelNation Inc.
    999 Stinson Way, Suite 301
    West Palm Beach, Florida 33411
    561-383-8212 Ext. 102