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OCTANE |
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Major oil companies have quietly removed gasoline with a 92 octane rating from pumps across California, and that could mean a lot of knocking and pinging for owners of high-powered muscle cars. Penn Octane Corporation (the "Company") (PINK SHEETS:POCC), an energy services company, announced that on February 6, 2007 it had entered into a purchase option agreement with Shore Trading LLC ("Shore Trading") that provides the Company with the option (the "Purchase Option") to purchase 25,000 units (the "Shore Units") of membership interest of Rio Vista GP LLC ("Rio Vista GP") currently held by Shore Trading. Penn Octane Corporation (the "Company") (PINK SHEETS:POCC), historically a provider of liquefied petroleum gas ("LPG") for distribution to northeastern Mexico until the sale of certain of its LPG assets on August 22, 2006, and a reseller of gasoline and diesel fuel ("Fuel Sales Business"), announced its financial results for the quarter ended September 30, 2006. |
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