SOURCE: Petroleum Consolidators

July 17, 2007 16:10 ET

Petroleum Consolidators Reports Revenue Growth at Recently Acquired CITGO Station

CITGO Total Sales up 29% June Over May

WEST PALM BEACH, FL--(Marketwire - July 17, 2007) - Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), a gasoline station and facilities consolidator, announced today that unaudited gasoline and convenience store sales are improving at both its CITGO and Valero-branded stations since acquisition.

The Company's most recent acquisition, a CITGO-branded station and convenience store acquired in May 2007, posted unaudited sales of $347,000 for the month of May and $447,000 in total unaudited revenue for June 2007, representing a 29% month-over-month increase in total sales.

Petroleum Consolidators President and CEO David Cohen said, "We are pleased to see a number of substantial improvements occurring at both of our recently acquired stations.

"Management remains committed to maintaining significant top- and bottom-line growth at each station as we move forward to pursue additional acquisition candidates and ensure successful implementation of our business plan."

About Petroleum Consolidators of America, Inc.

Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI) is implementing a targeted consolidation strategy to create a portfolio of retail gasoline stations and c-store facilities nationwide that will benefit from substantial operating efficiencies and rapid market acceptance as a result of acquisition.

The Company expects to acquire profitable gasoline businesses that include convenience stores and other branded offerings, including ancillary products and services, such as grocery and car care products, tobacco, beer, soft drinks, self-service fast food, publications, money orders and other services, and will implement a number of strategic directives to substantially improve revenue and net income at each facility under the Petroleum Consolidators umbrella.

For more information, visit www.petroleumconsolidators.com or www.dpmartin.com/pcai.

Safe Harbor Statement

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, this Company cautions that the risk factors listed in this paragraph are not exhaustive.

Contact Information

  • Contact:

    David Cohen
    (561) 514-0198
    Email: Email Contact

    or

    D.P. Martin & Associates
    Investor Relations for Petroleum Consolidators
    Email Contact
    (561) 514-0194