Apollo Resources Subsidiary Selects Site for Biodiesel Refinery.DALLAS -- Apollo Resources International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AOOR AOOR Annals Of Operations Research ) today announced that its 50% owned subsidiary, Earth Biofuels, has selected the site for its biodiesel refinery project in Durant, Oklahoma Durant is a city in Bryan County, Oklahoma, United States. The population was 13,549 at the 2000 census, but, the July 2006 census puts Durant's population at 15,050. The Durant Micropolitan Area has approximately 39,000 residents. . The site for the project is under contract and the purchase agreement is expected to close early next week. The refinery is scheduled to be completed by September 2005, and when fully operational is expected to produce 10 million gallons of biodiesel annually. The site for the project is in need of modifications, including the demolition of older silos and buildings. Bid packages for site preparation will be released shortly after the closing on the property. Apollo Resources CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Dennis McLaughlin, said, "As we continue to grow the biodiesel segment of our Company, we believe we are in step with the U.S. Government's position on the biodiesel fuel industry, as evidenced by President Bush's recent comments regarding the Virginia Biodiesel Refinery." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. , on May 16, 2005, while visiting a production facility for biodiesel near Richmond, Virginia Richmond IPA: [ɹɯʒmɐnɖ] is the capital of the Commonwealth of Virginia, in the United States. , President Bush commented that, "Biodiesel is one of our nation's most promising alternative fuel sources and by developing biodiesel you're making this country less dependent on foreign sources of oil." Apollo Resources International (www.apolloresources.com) is a public energy company focused on the acquisition and development of upstream oil & natural gas production assets. Additionally, the Company evaluates and develops existing and future alternative energy sources. This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. |
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