Blue Earth Resources Files License Applications for Fuel Sales in Texas, Louisiana, and Arkansas

Rhea-AI Summary

Blue Earth Resources (OTCMKTS: BERI) has announced the initiation of fuel sales license applications in Texas, Louisiana, and Arkansas, which could lead to a 25% increase in current volumes. Texas is the largest U.S. fuel consumer, accounting for 15% of total U.S. energy usage. The company expects to generate revenue by Q4 2022 and has secured supply agreements with high-volume clients ready to start once licensing is approved. The typical approval process for these licenses takes about 30 days.

Positive

• Potential for 25% increase in volumes due to Texas market opportunities.
• Established supply agreements with high-volume clients.
• Experienced management team with extensive market knowledge.

Negative

• None.

• Potential for 25% increase in current volumes, largely due to vast Texas market potential 
  

KNOXVILLE, TN, Jan. 24, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Blue Earth Resources Inc. (OTCMKTS: BERI) "Blue Earth" or the "Company", a U.S. fuel marketer announced initiation of fuel sales license applications in the states of Texas, Louisiana, and Arkansas.

Texas is the nation’s largest consumer of fuel at around 15% of total U.S. energy consumption. Louisiana is the second-largest consumer of energy per capita and Arkansas was warranted by Management’s extensive fuel sales history and network in the state.

Customarily, the state regulatory agencies provide approval of the applications within 30 days with the surety bond requirements, after which the company obtains the bond, sends it on to state regulators, who then send back the licenses, allowing fuel to be obtained and sold in the regions.

“We anticipate revenue to be produced in the regions within our 4th quarter ending February 2022,” commented Gary “Billy” Ford, COO. “Our team has decades of experience in these markets, especially Texas, and we’re thrilled to be launching our service-focused brand within these regions.”

Supply agreements are already approved and high volume clients are ready to commence once licensing is approved.

About Blue Earth Resources

Blue Earth Resources, Inc. is a fuel marketer which provides custom-designed solutions to refined fuel procurement supply issues and logistics challenges faced by fuel customers in the United States.

A customized composite of risk management, computation of industry, financial, and geo-political information assists each customer to make real-time market decisions that reduce cost and prevent business interruption.

Our risk management reporting incorporates specific risk tolerance assessments of each customer and includes purchase and sales contract review, and will include bulk inventory management (shipping, terminaling, and hedging), retail margin protection, and other custom reporting. 

Wholesale products supplied and distributed are various grades of refined fuels including gasoline, diesel, kerosene, biofuels, ethanol, and aviation fuel that are marketed along multiple supply points within regional pipelines.

Customers include retailers, jobbers, commercial, industrial, power plants, municipalities, government, agricultural, and manufacturers. http://www.berifuels.com/

Statements Regarding Forward-Looking Information

Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not a guarantee of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "expect," "anticipate," "intend," "plan," "should," "may," "will," "continue," "strategy," "position," "opportunity," statements regarding the "flexibility" of the Company or the negative of any of those terms or other variations of them or by comparable terminology.

Contact
Scott M. Boruff, CEO
investorrelations@berifuels.com
(865) 237-4448

FAQ

What is the significance of Blue Earth Resources' fuel sales license applications in Texas, Louisiana, and Arkansas?

The fuel sales license applications could lead to a potential 25% increase in current volumes, tapping into large markets.

When does Blue Earth Resources expect to generate revenue from these new markets?

Revenue is anticipated to be produced by Q4 2022.

What percentage of U.S. fuel consumption does Texas represent?

Texas accounts for approximately 15% of total U.S. energy consumption.

How long does the licensing approval process take for Blue Earth Resources?

The typical licensing approval process takes about 30 days.