Second Quarter 2016 Update
July 11, 2016
Enclosed please find the following: Second Quarter 2016 dividend check, Second Quarter Investment Statement, a recent article about our Company and a Compressed Natural Gas (CNG) industry article.
On June 22, we held a groundbreaking ceremony for our new Opis CNG station in Fort Pierce, Florida. The Mayor of Fort Pierce and the Chairman of the local utility company were able to speak at the ceremony. Both share in our excitement for the station and the great things CNG can bring to the city. The Opis station will become the first public CNG station to open in Fort Pierce.
Fort Pierce Construction
Our Construction & Operating Partner, Jeff Greene of Wise Gas, has all building permits and plans signed off and finalized. Equipment has been purchased and the construction on the station has officially commenced. The local gas utility agency has begun their work to bring a 4” natural gas pipe connection to our curb. Jeff Greene anticipates completing the station by end of September.
Pompano Beach Update
We anticipate the Pompano Beach station to generate increased revenue once the Fort Pierce station comes online, as clients can easily travel up and down the east coast of Florida and refuel with CNG at both of our stations. Please refer to the enclosed recent article about our Company.
The price of oil has now stabilized in the $50 range for a barrel of crude oil. This has brought the price of diesel to the same range as CNG if not higher. Regardless of the cost of diesel, many national trucking companies see the long term economic and clean fuel burning benefits, as well as, the long term price stability that natural gas brings to their bottom line.
I hope this brings you up-to-date, should you have any questions please call me directly at 949-878-8045. Best Regards,
Julio G. Macedo CEO/Manager