Message #6 From:
NewsBot Date: June 26, 2006 05:00:00 AM
PTLD News Petrol Industries Prepares To Lay Gas Line
OIL CITY, La.--(BUSINESS WIRE)--June 26, 2006--Petrol Industries, Inc. (Pink Sheets: PTLD) announced today that the Company has purchased the rights to lay a gas line through Caddo Lake, LA, and should be commencing construction within the next ten days. The pipeline will be around 7 miles long, and will cost approximately $500,000. Petrol will get 10% of all sales that come through their pipeline. In addition, the Company is negotiating the purchase of an additional gas facility. This facility will cost $3.6 Million, and its projected gross revenue should exceed $2.5 million a year. This is not including the revenue from the Caddo Lake Pipeline. Management stated, "While the Company will continue to focus on providing oil and gas related contracting services, this was an opportunity too good to pass up. When we were approached to build the pipeline, we jumped at the opportunity. Caddo Lake has tremendous reserves, and Companies willing to develop them. Yet at this time no pipe lines exist. Once the line is installed, the cost to maintain it will be minimal, and gas sales should continue to increase as more and more wells are brought online." Petrol Industries will continue to expanding these gas gathering facilities, as well as it's contracting services.
About Petrol Industries, Inc.
Petrol Industries is an oil and gas service contractor, located in Caddo Parish Louisiana. The Company provides Oil and Gas related services in Louisiana and Texas.
Forward-Looking Statements
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.
