CSBF Consolidated Biofuels Inc (CE)

Consolidated Biofuels, Inc. (Pink OTC: CSBF), a clean-tech energy and alternative fuels company, today announced that the first funds due under its production payment agreement with Pure Petroleum have been received by the Company and are now available for general use within its operations. The agreement itself calls for incrementally increasing monthly payments over the next 12 monthly periods and beyond up to a cumulative total of one million dollars ($1MM) with options to increase the amount and extend the periods under modified terms. Daniel Honeycutt, CEO, stated that: �Our current agreement with Pure is the first of several others on the table in the Wyoming energy sector that, when initiated, will allow Consolidated to fully participate in the acquisition of additional in-ground energy assets that will establish the cash flows and asset-based financial footings absolutely necessary for us to competently approach and realize true alternative fuels and energy projects that are well beyond the scope of the now-unfeasible food-based feedstock project types of the recent past.� Mr. Greg Karl, President of Pure Petroleum, LLC stated, �We anticipate that Consolidated, with its administrative, business development, negotiation and funding skills, will be alongside as Pure further expands its oil and gas operations and industry presence in the Powder River Basin of Wyoming. We also anticipate being on board when the time comes for Consolidated to fully establish itself in its operations within the coal-to-fuels industry in Wyoming.� About Consolidated Biofuels, Inc.: Consolidated is a development-stage clean energy company. Through strategic partnerships, Consolidated will acquire thermal-potential feedstocks such as coal assets and municipal solid waste contracts, in conjunction with efficient clean process technologies. Consolidated�s vision is to become the premier integrator of clean technologies as applied to trash-to-energy, coal-to-liquids, solar, geothermal, carbon sequestration and synthetic fuels. The Company will be positioned across the energy spectrum to realize maximum value for our shareholders through diversification and energy asset acquisitions. For further information, visit our website: http://www.CBioIntl.com (New website is currently under construction.) About Pure Petroleum, LLC: 3165 East Millrock Drive, Suite 475, Salt Lake City, UT 84121 Toll-free: (877) 943-PURE Visit Pure's website at www.purepetroleum.net This press release contains some forward-looking statements. Forward-looking statements involve estimates, projections goals forecasts, assumptions, risk and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements, and are current as of the date on which such statements are made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our business.