Continental Fuels Continues to Expand Supply Channels of Light Crude Condensate Prepares to Load and Sell Over 60,000 Barrels
19:35 17.07.07
PORT OF BROWNSVILLE, Texas--(BUSINESS WIRE)--In a demonstration of the continuing expansion of its supply of light
crude condensate, Continental Fuels, Inc.
(OTCBB:CFUL)(FWB:CNDI)(GER:CNDI)(BCN:CNDI) received delivery of 14
trucks carrying 200 barrels this past Sunday and is now receiving as
many as 50 trucks or more on some weekdays. As a result, all four of its
12,000 barrel storage tanks were filled to capacity prior to the arrival
of a barge on Tuesday.
With the loading of the 20,000 barrel barge on Tuesday, Continental
resumed the steady flow of delivery trucks at an average weekday rate
approaching or exceeding 7000 barrels and began preparations for the
arrival of a 50,000 barrel barge within the next several days. This
barge will be filled directly from the arriving delivery trucks as well
as from Continentals storage tanks.
Continental also expects to begin making sales and deliveries via rail
within the next 2 weeks.
The increase in supply is creating a very
positive problem for us, reports Continental
CEO Tim Brink. Since our customers are
committed to purchasing whatever amounts we are able to deliver, we must
now expand our sales channels and delivery methods to meet the growing
supply. For this reason, we will soon be able to deliver product using
train tanks as well as well as barges. As an additional benefit, we will
be able to keep the train tanks on our dedicated rail spur for extended
periods which will also effectively increase our storage capacity and
allow us to further expand sales.
Our personnel in Brownsville are doing an
outstanding job, continued Brink. They
have worked tirelessly to offload what has now become an endless queue
of delivery trucks. Because of their efforts, we have been able to
increase our sales every month and now, with constantly growing supply
and the availability of sales via rail, we will even be able to expand
our capacity without significant expense.
Continental Fuels, Inc. is a subsidiary of Universal Property
Development and Acquisition Corporation
(OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1).
For further information, please visit www.continentalfuels.com.
Statements contained in this press release that are not based upon
current or historical fact are forward-looking in nature. Such
forward-looking statements reflect the current views of management with
respect to future events and are subject to certain risks,
uncertainties, and assumptions. Should one or more of these risks or
uncertainties materialize or should underlying assumptions prove
incorrect, actual results may vary materially from those described
herein as anticipated, believed, estimated, expected, or described
pursuant to similar expressions.