SOURCE: Petroleum Consolidators of America, Inc.

February 23, 2009 08:00 ET

Petroleum Consolidators Announces Intent to Pursue an Over-the-Counter Bulletin Board Listing

PALM BEACH GARDENS, FL--(Marketwire - February 23, 2009) - Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), a gasoline station/convenience store operator announced today that the company has recently engaged a prestigious law firm in the Northeast to prepare our S1 SEC registration and our 15c211 Information and Disclosure Statement.

David Cohen, President and CEO, stated, "Transparency and the open exchange of information are critical to sustained investor confidence. The preparation and subsequent submission of the S1 registration with the SEC and the submittal of the 15c211 filing through a market maker to the NASD are important first steps in a series of steps that will culminate in Petroleum Consolidators of America, Inc. becoming a fully reporting company listed on the OTC Bulletin Board."

Additionally, Mr. Cohen, stated, "The OTC-BB listing is part of the overall corporate strategy that we have outlined recently. To date, we have completed our 2006-2007 PCAOB Audit and should expect to have our 2008 PCAOB Audit completed within two weeks. Upon the completion of that component, we will then have the S1 ready for submission to the SEC."

Furthermore, Cohen, stated, "Among the aforementioned activities, we are committed to continuing our work on our rollup strategy in the retail gasoline trade, wholesale distribution and the acquisition of oil wells. We are extremely mindful of shareholder value and are looking forward with anticipation to the future and expect to provide updates on the further growth of PCAI as soon as possible."

About Petroleum Consolidators of America

Petroleum Consolidators of America, Inc. is a gasoline station/convenience store operator which is implementing a targeted acquisition strategy to create a portfolio of consolidated retail gasoline facilities, producing oil wells and a wholesale fuel distributorship that will benefit from substantial operating efficiencies.

Safe Harbor

This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. The words "may," "could," "should," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar words are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially from the results and events anticipated or implied by such forward-looking statements. Any number of factors could affect actual results and events, including, without limitation: the ability of the Company to take advantage of expected synergies in connection with acquisitions; the actual operating results of stores acquired; the ability of the Company to integrate acquisitions into its operations; fluctuations in domestic and global petroleum and gasoline markets; changes in the competitive landscape of the convenience store industry, including gasoline stations and other non-traditional retailers located in the Company's markets; the effect of national and regional economic conditions on the convenience store industry and the markets we serve; the effect of regional weather conditions on customer traffic; financial difficulties of suppliers, including our principal suppliers of gas and merchandise, and their ability to continue to supply our stores; environmental risks associated with selling petroleum products; governmental regulations, including those regulating the environment; and acts of war or terrorist activity. Results actually achieved may differ materially from expected results included in these statements. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, the Company cautions that the risk factors listed in this paragraph are not exhaustive.

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