SOURCE: Petrol Industries, Inc.

September 20, 2007 08:00 ET

Petrol Industries, Inc. Acquires Angel Construction Corp. Adding Million Dollar Plus to Their Asset Base

OIL CITY, LA--(Marketwire - September 20, 2007) - Petrol Industries, Inc. (PINKSHEETS: PTLD) announced today the acquisition of Angel Construction Corp. an Oil City, Louisiana-based company. It is a full service construction company providing services to the oil and housing industries. It has a robust future order portfolio coupled with significant assets.

Petrol Industries Management stated they have re-structured one million dollars of liabilities, which is expected to enable the company to have a strong showing for the final quarter of the 2007 financial year.

The Interim President of Petrol Industries Inc., Mr. Mario Lanza, stated, "The acquisition of Angel Construction allows the company to become more diversified while still remaining true to its business model. The goal of the company is to continue to develop and add value to the company and the shareholders. This acquisition allows us to broaden the nature of our business by including construction real estate. This is an exciting step forward, the company has worked diligently, and our management team is working hard to get back to full reporting status."

About Petrol Industries:

Petrol Industries are a provider of products and services to the oil and gas industry. The Company provides and integrates products and services through exploration, development, production, operation and maintenance in the Louisiana and Texas regions.

About Angel Construction:

A Louisiana-based corporation that provides construction services, supplies rental equipment and consultancy services to local government and federal agencies.

Forward-Looking Statements - Safe Harbor:

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • For further information regarding Petrol Industries Inc. Contact
    George Macleod
    Petrol Industries, Inc.
    P.O. Box 608
    Oil City, La. 71061
    Tel: 318-995-7225