SANTA ANA, Calif., Feb. 3, 2004 (PRIMEZONE) -- Allenergy Incorporated (Pink Sheets:ALRY) today announced it has signed an initial acquisition agreement to purchase 100 percent of Costaco Incorporated, a 20-year old full service travel provider and recognized leader in the cruise industry.
Costaco, Inc., headquartered in San Diego, Calif., is the Parent Corporation of Costa Travel, Only Fun Vacations , Ask about cruises.com and "The Travel Insider" syndicated radio program. In addition to a flawless reputation and being well known throughout the travel industry, Costa Travel has an experienced management team and more than 2,750 outside independent travel agents who create large volume travel bookings that generate exceptional buying power and highly competitive pricing.
Costa Travel has built strong relationships with travel industry leaders -- such as Royal Caribbean, Carnival Cruises, Apple Vacations, Vacations.com and Travel Zoo (to name but a few) -- and has earned numerous "net fare" contracts, which are rarely available.
With current annual revenues over $10,000,000, Costaco Inc. and its subsidiaries anticipate year-end 2004 revenues to range between $15,000,000 and $20,000,000 based on new signed contacts and active negotiations.
Allenergy president, Rodger W. Garrity states, "Costaco and its related companies will be a wholly-owned subsidiary of Allenergy. This move is only the first acquisition in its corporate plan to build sales and earnings by purchasing on-going profitable businesses that operate outside the oil and gas industry."
Allenergy is an Oklahoma Corporation -- formed in 1986 -- specializing in Oil Production (Drilling and Exploration), Natural Gas (Drilling and Development) and the Acquisition of Oil and Gas Properties.
For information write: Allenergy Inc.,1820 East Garry Avenue, Suite 111, Santa Ana, CA 92705, phone 949-955-1411 or visit www.allenergy-online.com. Investor relations contact: Greg Leone 619-596-3374 - email gleone1@cox.net or Steven Lee, The SL Investment Group 949-675-7150 -- email investorrelations@theslinvestmentgroup.com.
Note: Except for historical information contained herein, the statements in this release are forward looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to; market conditions, competitive factors, the ability to successfully complete additional financings and other risks.