HINSDALE, Ill., Jan. 23, 2007 (PRIME NEWSWIRE) -- Voyager Petroleum, Inc. (fka Voyager One, Inc.) (OTCBB:VYGO) announces the signing of a purchase agreement on a facility for use in storing and processing recycled oil in Detroit, MI. The 20,000 square foot facility will be used to process reclaimed used oil for use in lubricant oil products that will then be sold to the automotive and industrial after-markets. The plant sits on 3.5 acres of land and consists of a warehouse, a processing facility and offices with on-site railroad and truck access. It houses 22 outside storage tanks and 32 inside storage tanks for a total storage capacity of 718,000 gallons. Voyager will begin occupying the premises immediately with an anticipated closing date in the first quarter of 2007.
Commenting on this transaction Jefferson Stanley, CFO of Voyager Petroleum, stated "After several months of negotiations, we are very pleased to announce a purchase agreement on this Detroit facility. It represents a major step forward in our acquisition strategy and provides us with an excellent initial hub of operations."
Robert Nelson, Vice President of Supply Operations, further commented that, "This facility is very well equipped to meet our processing needs. Its location and easy accessibility are also ideal for storing and shipping petroleum products."
About Voyager Petroleum
Voyager Petroleum seeks to acquire reputable middle market petroleum based lubricant companies that refine, blend, bottle, and distribute to the automotive and manufacturing after market with established regional distribution channels and experienced management that would recognize increased revenue and significant cost savings from an injection of working capital, wider distribution, or vertical integration.
Forward-Looking Statements
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology.
Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results.