[POCC.OB] PENN OCTANE CP » 0.75 +0.07 ( +10.29%) Open » 0.70 Volume » 186100
Penn Octane is engaged in energy services, including the purchase and sale of gasoline and diesel fuel. Penn Octane began operations of its gasoline and diesel fuel reseller business in June 2004. By allocation to Penn Octane of portions of certain pipeline and terminal space located in California, Arizona, Nevada and Texas, Penn Octane is able to sell gasoline and diesel fuel at rack loading terminals and through bulk and transactional exchanges. In addition, Penn Octane owns a 50% interest in Rio Vista GP LLC, the general partner of Rio Vista Energy Partners L.P. ("Rio Vista"), an energy services master limited partnership, and has an option to acquire an additional 25% interest in Rio Vista GP LLC. Rio Vista owns liquefied petroleum gas ("LPG") assets, including pipelines running from a terminal facility in Brownsville, Texas owned by TransMontaigne Product Services, Inc., to a terminal facility in Matamoros, Mexico owned by Rio Vista.
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