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Apollo Resources Purchases Natural Gas Processing Equipment

Posted on: Wednesday, 2 November 2005, 12:01 CST

Apollo Resources International, Inc. (OTCBB:AOOR) today announced that it has purchased natural gas processing equipment from Neptune Leasing, Inc., a Texas corporation. The equipment includes six nitrogen reduction units and two cryogenic processing units.

Nitrogen reduction units condition natural gas streams that contain elevated levels of inert gases in order to conform to pipeline transportation specifications. Similarly, cryogenic processing units reduce the BTU (British Thermal Unit) content of natural gas by removing the heavier hydrocarbon elements to meet pipeline specifications.

Apollo Chief Operating Officer Wayne McPherson said the Company intends to deliver a fully reconditioned and operational nitrogen reduction unit and a fully reconditioned and operational cryogenic processing unit to Apollo's Hospah field in New Mexico.

"The gas reserves in the Hospah field have elevated levels of nitrogen and have a rich BTU content," he said. "This equipment is critical in our ability to produce and provide natural gas from this field."

Dennis McLaughlin, Apollo CEO, stated, "We believe this development represents a significant step toward developing our natural gas assets and executing our business plan. Given the price environment of domestic natural gas, we are currently focusing on additional opportunities, in particular those that can increase the value and efficiency of our New Mexico and Oklahoma assets."

Apollo Resources International is a public energy company focused on the acquisition and development of upstream oil and natural gas production assets. Additionally, the Company evaluates and develops existing and future alternative energy sources.

This press release may contain "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes,""looking ahead,""anticipates,""estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

Source: Business Wire

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