HEGP NEWS
Heartland Energy HEGP Enters E85 Distribution Agreement With Crescent Oil
Jan 24, 2008 9:25:00 AM
Copyright Business Wire 2008
View Additional ProfilesALEXANDRIA, La.--(BUSINESS WIRE)--
Heartland Energy Group, Inc. (Pink Sheets:HEGP) announced today that it has entered a distribution agreement with Crescent Oil. Under the terms of the agreement, Crescent Oil will service and supply Heartland Energy's fuel station located in Broken Bow, Oklahoma.
Roy Thornhill stated: "This agreement will enable us to distribute our He85. We're on the path to realizing our vision of creating dependence from foreign energy sources."
Ethanol Industry:
The growing interest in ethanol, a clean, corn-based renewable resource, has paralleled the escalating price of gas and the urgent need to break the country's dependence on crude oil. Recently, the Big Three automobile manufacturers, GM (NYSE:GM), Ford (NYSE:F), and DaimlerChrysler (NYSE:DCX), appealed to Congress for incentives to increase the number of gas stations that offer blends of ethanol. President Bush responded by signing the Energy Independence and Security Act of 2007. Microsoft (NasdaqGS:MSFT) co-founder Bill Gates invested $84 million into Pacific Ethanol (NasdaqGM:PEIX). Vinod Khosla, "guru" of Silicon Valley, co-founder of Sun Microsystems (NasdaqGS:JAVA), and one of ethanol's most vocal advocates, has personally invested millions in private companies involved in the development of ethanol. The development of renewable energy resources has created enough buzz to force conventional gas and oil conglomerates such as Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), and BP (NYSE:BP) to focus more on alternative energy solutions. Alternative energy companies like Archer Daniels Midland (NYSE:ADM) and Bunge Limited (NYSE:BG) have experienced some resistance in their respective markets due to the rise in feedstock costs.
About Crescent Oil
Crescent Oil is a privately held company with corporate offices located in Independence, KS. Crescent Oil Company leads the fuel distribution industry by providing the best gasoline products. Crescent Oil distributes to a large customer base ranging from Exxon Mobil (NYSE: XOM), BP (NYSE:BP), Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), and now Heartland Energy Group (Pink Sheets:HEGP).
About Heartland Energy Group, Inc.
Heartland Energy Group, Inc. (Pink Sheets:HEGP) is a North American-based alternative fuel resource and service company, dedicated to developing the infrastructure for the delivery of ethanol. Heartland seeks to eliminate North America's dependency on foreign energy sources by focusing on innovative engineering that will enable the mass distribution of ethanol. Heartland Energy Group will transcend the future of renewable energy resources, with the ultimate goal of creating a cleaner brighter energy solution for North America. For more information, visit us at www.HeartlandEnergyGroup.com.
Forward-Looking Statements:
Based on current expectations and assumptions, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical experience and projections. Such forward-looking statements are inherently uncertain, and actual results may differ from those expressed or implied. Consequently, readers should not place undue reliance on any forward-looking statements. Heartland Energy Group, Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Heartland Energy Group, Inc.
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Heartland Energy Group
Inc.
Roy Thornhill
318-449-9490
royt@heartlandenergygroup.com
AI
