Able Energy, Inc. Announces Fiscal Year 2005 Earnings.

ROCKAWAY, N.J. -- Able Energy, Inc. ("Able") announced its results for the fiscal year ended June 30, 2005. The Company reported record sales of $62 million for the year as compared to $42.9 million in the prior year, an increase of 44.5%. The Company reported net loss from continuing operations for the year decreased to approximately $(2.1) million or $(0.99) per share compared to a net loss from continuing operations of approximately $(2.7) million or $(1.34) per share a year ago.

SELECTED FINANCIAL DATA

                      FOR THE YEAR ENDED JUNE 30,

                                    2005          2004           2003
Results of Operation Data

Sales                      $  61,964,825    42,882,327  $  43,409,488
Gross Profit                   5,946,324     5,614,858      6,504,093
Operating Income (Loss)       (1,142,598)   (1,971,745)       328,463
Net Income (Loss) from
 Continuing Operations        (2,110,257)   (2,700,102)        53,322

Per share:
 Net Income (Loss) from
  Continuing Operations             (.99)        (1.34)          (.03)
 Depreciation and
  Amortization                 1,183,144     1,152,906      1,070,046
Interest Expense                 449,776       576,578        435,992
Weighted Average Number of
 Shares Outstanding            2,140,813     2,013,250      2,012,708

Balance Sheet Data

Cash                       $   1,754,318   $ 1,309,848  $     400,033
Current Assets                 6,230,307     5,577,508      5,504,366
Current Liabilities            6,550,350     5,320,953      8,678,829
Total Assets                  12,754,560    12,443,695     12,612,582
Long-Term Liabilities          4,146,095     3,724,691        446,461
Total Stockholders' Equity     2,058,115     3,398,051      3,487,292

Commenting on these results, Christopher Westad, President and Acting CEO, stated, "We are pleased that we have improved both gross profit and net income vs. prior year, despite the record increases in the cost for petroleum based products. Although we sustained a loss, we note that as part of this loss, $1,135,000 of it was due to one-time extraordinary expenses including losses associated with the 2003 accident and professional fees. We successfully refinanced our line of credit and long-term debt at better terms during the period, and were able to raise additional working capital through the issuance of debentures. We believe that these financings will help us fund our current operations plus expand our current product lines. More importantly, our focus will be to become vertically integrated into new lines of business through previously announced acquisitions." Westad concluded, "We are especially excited about our potential acquisition of the Kentucky based Somerset Oil and Refinery. We also anticipate acquisitions, which will significantly grow our core business this year."

Able is a holding company for five operating subsidiaries, which are engaged in the retail distribution of, and the provision of services relating to home heating oil, diesel fuel, kerosene, and in addition, Able provides complete HVAC installation and repair.

Able's common stock is traded on the Nasdaq SmallCap Market under the symbol "ABLE" and on the Boston Stock Exchange under the symbol "AEI".