Capital Oil & Gas, Inc. Board of Directors Agrees to Acquire and Lease Sixteen Additional Retail Outlets

Capital Oil & Gas, Inc., reported that Senior Management has agreed to acquire/lease sixteen additional retail locations as previously announced and that the outlets will include retail gasoline sales stations including convenience and fast food operations.

This action has been sanctioned by the company’s Board of Directors and is viewed by Senior Management as a vote of confidence in its overall strategy of becoming a major retailer of consumer related petroleum products including the highly lucrative ancillary consumer services of convenience stores and fast food operations.

The anticipated sixteen outlet operation will add to the company’s balance sheet on average gross revenues of $385,826.19 per location per month. Senior Management has argued for this type of expansion exhaust fully and has been rebuffed (as the Board did not want to squander profits) several times and finally the Board acquiesced.

“We are extremely pleased that our Board of Directors has finally realized that in this economy we have to grow or die, we need to expand our operations either internally or externally and they have agreed on our growth plan of acquisitions and we are ready, willing and able to do so,” said Ariel Rodriguez, President of Capital Oil and Gas.

Capital Oil & Gas operates retail filling stations/convenience stores/fast food operations throughout the State of Florida; the company is aggressively seeking additional acquisitions of comparable business operations and other additional synergetic related business that can enhance revenues and profits that will meet its required financial criteria.