Able Energy Makes Announcement.Business Editors ROCKAWAY, N.J.--(BUSINESS WIRE)--April 5, 2003 Following an explosion and fire that occurred at the Able Energy facility in Newton, NJ on March 14, and through the subsequent clean-up efforts, Able Energy has cooperated fully with all local, state and federal agencies in their investigations into the cause of this accident. On April 3, 2003 Able Energy received a Notice of Violation from the New Jersey Department of Community Affairs The New Jersey Department of Community Affairs is a governmental agency of the U.S. state of New Jersey. Governor Jon Corzine nominated Joseph Doria as Commissioner of the New Jersey Department of Community Affairs (DCA), replacing Susan Bass Levin, a nomination that must be ("DCA (1) (Document Content Architecture) IBM file formats for text documents. DCA/RFT (Revisable-Form Text) is the primary format and can be edited. DCA/FFT (Final-Form Text) has been formatted for a particular output device and cannot be changed. ") citing a total of 13 violations to the New Jersey Administrative Code, Liquefied Petroleum Gas liquefied petroleum gas or LPG, mixture of gases, chiefly propane and butane, produced commercially from petroleum and stored under pressure to keep it in a liquid state. . Twelve of the violations were assessed a penalty of $500 each. One of the violations, regarding the liquid transfer from one truck to another truck, was assessed a penalty of $408,000. The DCA document is currently under review by counsel. Based upon initial review, the company disagrees with many of the findings of the report and disputes many of the allegations. The company intends to contest the DCA Notice of Violation and the assessed penalties. Able is a holding company for five operating subsidiaries that are engaged in the retail sales, distribution, and provision of services to customers using home heating oil, fuel oil, and propane gas. In addition, Able provides complete HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free sales, installation, maintenance, and repair. Able's common stock is traded on the Nasdaq SmallCap Market under the Symbol "ABLE" and on the Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. under the Symbol "AEI AEI American Enterprise Institute AEI Archive of European Integration AEI Australian Education International AEI Automotive Engineering International AEI Australian Education Index AEI Albert Einstein Institute ". This press release contains certain forward-looking statements, including those regarding Able Energy, Inc. and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to Able's management as of the date hereof, and actual results may vary based upon future events, both within and without Able management's control. |
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