Turner Valley Oil and Gas Inc (TVOG)

[Axel]

Turner Raises Guidance On Bitumen Shipping Acquisitions; Plans Expansion for Expected Infrastructure Boom

Initial Bitumen Tanker Acquisitions are Projected to Generate $39,000,000 in Annual Revenue and $6,000,000 EBITDA.
PR Newswire

HOUSTON, June 8, 2017

HOUSTON, June 8, 2017 /PRNewswire/ -- Turner Valley Oil and Gas, Inc. (the "Company") (OTC: TVOG), pending name change to Turner Venture Group, Inc., has announced updated guidance estimates for its pending Bitumen Tanker asset acquisitions. The Company is currently progressing on schedule to complete the final due diligence and financing required for Closing.

Turner Venture Group

Based on increasing market demand, improved utilization, more complete fleet analysis, due diligence, and expectations to fully operate the fleet of five (5) Bitumen tanker vessels once acquired, the Company believes that it will generate over $39,000,000 in annual revenue and $6,000,000 in EBITDA. This estimate represents a significant increase from the Company's initial guidance. This does not take into account the planned expansion of the fleet and infrastructure, which will be discussed in detail in a future press release.