HOUSTON, Dec. 4, 2007 (PRIME NEWSWIRE) -- BlueStar Health, Inc. (Pink Sheets:BLSH) announced today that the Company's Zeon Fuel subsidiary has identified more than a dozen prospective retail fuel distribution locations in southeast Texas that meet the volume and location criteria required by Zeon management for acquisition consideration. Five of the identified locations meet the financial criteria necessary for financing under the Walker Commercial Funding (WCF) credit facility announced last week.
Zeon management has also engaged the services of three specialized brokers to assist in locating and qualifying candidate properties in southeast Texas that match the Company's acquisition criteria. Aside from case-by-case "location evaluations," to qualify for consideration under the Company's acquisition program, a prospective location should sell a minimum of 3.6 million gallons of fuel annually and/or generate $10 million in gross annual fuel revenues. Additionally, locations with convenience stores should generate more than $850,000 in annual revenues from convenience store operations.
Zeon Fuel is projecting that the Company will "control" a total of 30 locations, either through ownership, lease or through fuel supply contracts, by the end of 2008.
Chairman Naved Jafry commented, "Having the WCF credit facility in place and experienced brokers in our corner assisting us in locating the right opportunities, we are well positioned to reach our growth projections over the next 12 months. While it is difficult to anticipate negotiation and due diligence timetables as we move forward, we are pleased with the initial level of activity and the opportunities we have been presented with so far."
Biodiesel Fact: The overall ozone (smog) forming potential of biodiesel is less than diesel fuel. The ozone forming potential of hydrocarbon emissions was nearly 50 percent less than that measured for diesel fuel.
About BlueStar Health
BlueStar, through its wholly-owned subsidiary, Zeon Fuel, Inc, is engaged in the business of blending purchased bio-diesel and petroleum diesel fuels and distributing the blended product through retail outlets. The company intends to expand its distribution through owned and leased facilities as well as fuel contracts with retail outlets. For more information on BlueStar's primary operating entity, Zeon Fuel, Inc., please visit www.zeonglobalenergy.com
Forward-Looking Statements
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future events or transactions, sales of products or performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to execute its business plan, having necessary financing in time to meet contractual obligations and support the business activity, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's current and future filings with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.