SOURCE: Petroleum Consolidators of America, Inc.

October 15, 2009 09:35 ET

Petroleum Consolidators of America Releases 2008 Audited Financials

PALM BEACH GARDENS, FL--(Marketwire - October 15, 2009) - Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), a gasoline station/convenience store operator, announced today that it has released its 2008 PCAOB audited financials and will begin its 2009 PCAOB quarterly reviews.

David Cohen, President and CEO of Petroleum Consolidators, stated, "We are excited to have posted our 2008 PCAOB audited financials with supplemental information with Pink Sheets on October 14, 2009."

Additionally, Cohen stated, "This is yet another step in a series of steps that takes us in the direction of being a fully reporting company that trades on the Over-the-Counter Bulletin Board and meeting our corporate goals for calendar 2009. Moreover, upon the completion of the 2009 PCAOB quarterly reviews, Petroleum Consolidators is expected to begin the framework for our Form 10 and 15c211 filing."

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 and wholesale fuel distributorships 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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