HOFFMAN ESTATES, Ill., Aug. 31, 2005 (PRIMEZONE) -- American Petroleum Group, Inc.'s (OTCBB:AMPE) announced that its subsidiary, Triton Petroleum, LLC, will begin production at its new facility in Detroit, Michigan during the first week of September. Over the next several months, the full ramp-up of production at Triton's facility will result in a steady, low cost supply of re-refined base oils for APG's other subsidiary, American Petroleum Products Company (APPC). APPC will utilize these base oils for blending in its motor oil product line. Triton will utilize a detailed reclamation process to turn used, "uncombusted" oils (such as gear oil, used motor oil, machine oils, etc.) into "renewed" petroleum base oil. This base oil will be blended with new crude and other chemical components and sold as bulk and bottled motor oil by APPC in Bedford Park, Illinois.
George Campbell, president and CEO of APG, stated, "As the price of new, raw crude continues to go up, renewable oil resources become critical for our company. The U.S. generates over a billion gallons of waste lubrication oils annually, but this renewable resource is more often burned than re-refined for reuse. Full production by Triton of this renewable resource is critical to our plans of dramatically increasing our sales and returning APG to profitability."
About Americana Petroleum Group
American Petroleum Group, Inc. (the "Company") is a Chicago area-based holding company with an agenda to acquire, merge, and manage various business opportunities. The Company's current direction is in the manufacturing and distribution of petroleum and related products for the automotive industry through its subsidiary, American Petroleum Products Company (APPC). APPC primarily serves the motor oil industry through the distribution of bulk and bottled motor oil products. American Petroleum Group's management specializes in the private label bottling sector for some of the major oil companies in the U.S. American Petroleum Group also plans to pursue opportunities for private labeling of motor oils with several well known retail chains throughout the United States. APPC is also pursuing several antifreeze and brake fluid private distribution agreements with well known national automotive repair facilities.
Another area for growth being pursued by APPC is in the recycling of "uncombusted" oils, through a new marketing relationship with a Michigan-based company.
Forward-Looking Statements
This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended, that are based on management's exercise of business judgment as well as assumptions made by, and information currently available to, management. When used in this document, the words "may," "will," "anticipate," "believe," "estimate," "expect," "intend," and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as noted in our securities and other regulatory filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation and do not intend to update, revise, or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.