HOUSTON, Dec. 11, 2007 (PRIME NEWSWIRE) -- BlueStar Health, Inc. (Pink Sheets:BLSH) announced today that the Company's Zeon Fuel subsidiary has entered into a Letter of Intent (LOI) to acquire a retail fuel distribution location near the George Bush International Airport in Houston, Texas. Zeon management has initiated the due diligence process and, subject to final approval and acceptance, looks forward to signing a definitive agreement within the next 90 days.
The 3.5 Acre corner-lot "truck stop" location is ideally situated at the intersection of two major freeways servicing the airport area and features 4 diesel islands and 3 gasoline islands under separate canopies, which will distribute approximately 400,000 gallons of fuel monthly, and a 4,900 square foot convenience store operation that will generate approximately $90,000 in monthly merchandise sales.
Richard Greenwood, President and CEO of BlueStar and Zeon, commented, "While this location is one of many prospective locations we are considering for acquisition, it is the first under the new Company structure and as such represents an important milestone. The location's financial metrics not only appear to meet Zeon's acquisition criteria, but the spacious lot size and optimal location will provide us with plenty of room to accommodate additional amenities in the future and significantly more traffic as the location grows under our model." He continued, "We anticipate announcing more pending acquisitions, leases and/or fuel contracts in the coming weeks and months."
Biodiesel Fact: Biodiesel has the highest energy content (BTUs) of any alternative fuel and is comparable to No. 1 diesel.
About BlueStar Health
BlueStar, through its wholly-owned subsidiary, Zeon Fuel, Inc., is engaged in the business of blending purchased bio-diesel and petroleum diesel fuels and distributing the blended product through retail outlets. The company intends to expand its distribution through owned and leased facilities as well as fuel contracts with retail outlets. For more information on BlueStar's primary operating entity, Zeon Fuel, Inc., please visit www.zeonglobalenergy.com
Forward-Looking Statements
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future events or transactions, sales of products or performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to execute its business plan, having necessary financing in time to meet contractual obligations and support the business activity, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.