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Wednesday May 7 1:54 PM EDT
Company Press Release
Source: Evans Systems, Inc.
Evans Systems, Inc. Enters into Agreement to Process
Waste Oil Into Diesel Fuel
BAY CITY, Texas, May 7 /PRNewswire/ -- Evans Systems, Inc. (Nasdaq:EVSI) today
announced that it had signed a letter of intent to enter into a joint venture with RecOil, Inc. to utilize
Green Oasis Environmental, Inc.'s (OTC Bulletin Board:GRNO) EnviroEconomics(TM) system to
process waste oils into diesel fuel and other marketable fuels in the states of Texas, Louisiana, and
Oklahoma. These states generate approximately 210 million gallons of the estimated 1.4 billion
gallons of domestic waste oil disposed of annually by the automotive, trucking, agriculture, oil
drilling, manufacturing and marine industries. The letter of intent is subject to execution of a definitive
agreement and approval by both parties' Board of Directors.
J.L. Evans, Sr., president and chief executive officer of Evans Systems, Inc., stated that, ``The
production of diesel fuel from waste oil is a natural fit with our existing Petroleum Marketing
business segment. We currently distribute approximately 8 million gallons of diesel fuel annually and
would be able to not only substantially increase our profit margins but also expand our market share
of the oil drilling, shrimping and agriculture industries with the competitive cost advantage that the
Green Oasis system provides.''
Evans Systems, Inc.'s four key business segments include: ChemWay Systems, which produces,
packages and markets automotive after-market chemical products as well as reclaims and supplies
low and high pressure refrigerants; Convenience Stores, a chain of 40 retail outlets in south Texas
and Louisiana; Petroleum Marketing, a distributor of petroleum products; and EDCO
Environmental, which provides environmental soil remediation services.
SOURCE: Evans Systems, Inc.
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More news for referenced ticker symbols: EVSI, GRNO, and related industries: environmental,
oil/energy.
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A dynasty begins.....
Happy trades.
Robert
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