Green Oasis Environmental Inc. (GRNO )

Press Release Source: Green Oasis Environmental On Friday December 10, 2010, 4:15 pm EST
EDMONTON, AB--(Marketwire - 12/10/10) - Green Oasis Environmental Inc. (Pinksheets:GRNO - News), a Florida corporation, is pleased to announce its wholly owned subsidiary Custom Carbon Processing Inc. (CCP) has experienced a strong year. With slightly more than 2 weeks remaining in 2010, revenues are on target to increase by 100 percent year over year with expenses decreasing by 50 percent. During the fourth quarter of 2010 slop oil processing has continued to accelerate with current and new clients. This acceleration is paving the way for a record year in revenue and net income for 2011. Currently, GRNO has 4 million dollars in assets owned free and clear.

During the last 12 months, we have experienced strong revenue growth while reducing expenses by 50 percent. As indicated in the 2009 financial statements recently filed with our 8-K/A, our year end expense was $1.4 million. Much of the expense was due to a one-time charge attributed to the shutdown of a plant and restructuring. We allocated $500,000 to ensure our facilities were operating at efficient levels. 2010 financials will reflect a drop in operating expense, which will in turn increase our bottom line, also known as net income," stated Peter Margiotta, President/CEO.

Mr. Margiotta further stated, "We are focusing on having our 2010 fiscal year financial statements audited and are planning on releasing each quarter into the market as it is completed, and it is part of our goal to keep our investors and the public updated, while maintaining a strong and fundamentally sound company. We anticipate 2011 to be a record year in revenue and net income due to the continued increased in customers, slop oil processing, sale of slop oil, rising oil prices and substantial reduction in operating expenses in 2010."
Green Oasis -- "Green today for a stronger tomorrow"

Green Oasis Environmental, Inc. (GRNO) is dedicated to acquiring and providing access to world class technologies available today and has chosen to focus its efforts on seeking acquisitions of technology and/or operations concerning the remediation of slop oil, waste engine oil, and tank bottom oils. GRNO has every intention of becoming the single best option for reclaiming oil to pipeline specification from these waste products. Through the Company's state of the art technology, GRNO will be able to process these waste products at one of their facilities or at a customer's site by way of implementing its portable processing technology.
About Custom Carbon Processing Inc.

Custom Carbon Processing Inc. (CCP) is a Wyoming based Company formed in 2006 that has been operating in the Gillette, Wyoming area since its inception. Through the technology that CCP has developed, CCP is able to process slop oil (unrefined, non saleable oil) into pipeline standard crude. Its first facility has proven its capabilities to process up to 1,500 barrels of slop oil with a conversion ratio of approximately 50% to finished crude. Through its ongoing contract, CCP sells the processed slop oil to Shell Trading (US) Company (www.shell.us). Shell Trading (US) Company is a corporation that acts as the single market interface for Royal Dutch Shell companies and affiliates in the United States with offices in Houston, TX (headquarters); Dallas, TX; Denver, CO; Midland, TX; and San Antonio, TX; and has an affiliated Shell Trading company in Calgary, Alberta. Shell Trading buys and sells more than five million barrels per day of hydrocarbons, is one of the largest physical traders of hydrocarbons in the United States and one of the world's largest energy trading companies.

On target to reflect 100% increase year over year? I'm looking at their 1 year chart and don't see it happening. It has no P/E and seems to be performing inconsistently. On a positive note, this looks to be a historically good buy in price point, as it doesn't look like it will get any cheaper. Their press release sounds like a bunch of fluff with little substance. Care to elaborate on why you shared this one with us?