Continental Fuels Continues to Expand Supply Channels of Light Crude Condensate Prepares to Load and Sell Over 60,000 Barrels | 19:35 17.07.07 | PORT OF BROWNSVILLE, Texas--(BUSINESS WIRE)--In a demonstration of the continuing expansion of its supply of light crude condensate, Continental Fuels, Inc. (OTCBB:CFUL)(FWB:CNDI)(GER:CNDI)(BCN:CNDI) received delivery of 14 trucks carrying 200 barrels this past Sunday and is now receiving as many as 50 trucks or more on some weekdays. As a result, all four of its 12,000 barrel storage tanks were filled to capacity prior to the arrival of a barge on Tuesday.
With the loading of the 20,000 barrel barge on Tuesday, Continental resumed the steady flow of delivery trucks at an average weekday rate approaching or exceeding 7000 barrels and began preparations for the arrival of a 50,000 barrel barge within the next several days. This barge will be filled directly from the arriving delivery trucks as well as from Continentals storage tanks.
Continental also expects to begin making sales and deliveries via rail within the next 2 weeks.
The increase in supply is creating a very positive problem for us, reports Continental CEO Tim Brink. Since our customers are committed to purchasing whatever amounts we are able to deliver, we must now expand our sales channels and delivery methods to meet the growing supply. For this reason, we will soon be able to deliver product using train tanks as well as well as barges. As an additional benefit, we will be able to keep the train tanks on our dedicated rail spur for extended periods which will also effectively increase our storage capacity and allow us to further expand sales.
<!-- BEGIN: AdSolution-Website-Tag 4.2 : contentad --> <!-- END:AdSolution-Tag 4.2 -->Our personnel in Brownsville are doing an outstanding job, continued Brink. They have worked tirelessly to offload what has now become an endless queue of delivery trucks. Because of their efforts, we have been able to increase our sales every month and now, with constantly growing supply and the availability of sales via rail, we will even be able to expand our capacity without significant expense.
Continental Fuels, Inc. is a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA)(FWB:UP1)(BCN:UP1)(GER:UP1)(MUN:UP1)(STU:UP1).
For further information, please visit www.continentalfuels.com.
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