Petroleum Consolidators Completes Early Stage Due Diligence Phase for Merger Candidate

PALM BEACH GARDENS, FL, May 27 (MARKET WIRE) --
Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), a gasoline
station/convenience store consolidator, is pleased to inform our
shareholders that the initial due diligence paperwork has been exchanged
between the merger candidate and our company.

The private resource company with proven reserves of approximately
5,000,000 tons of low sulfur high BTU coal and approximately 15,500,000
tons of inferred coal deposits is located in the Illinois coal basin. The
shallow coal seams are located approximately 150 feet below the surface
and will be accessed with proven room and pillar mining techniques. The
permitting process is in the last stages and is expected to be approved in
the fall of 2009. Additional drilling programs are presently in progress
to change the status of inferred reserves to proven reserves.

Petroleum Consolidators' President & CEO, David Cohen, stated: "We are
excited about the progress of this due diligence phase. Both the merger
candidate and PCAI are working conscientiously towards a timely closing
and maximizing shareholder value."

Additionally, Cohen stated: "Petroleum Consolidators has chosen not to
pursue the oil well acquisition referenced in our press release, dated
February 11, 2009. We feel that the investment can be deployed in a more
effective manner elsewhere."

About Petroleum Consolidators of America.

Petroleum Consolidators of America, Inc. is a gasoline station/convenience
store operator which is implementing a targeted acquisition strategy to
create a portfolio of consolidated retail gasoline facilities, producing
oil wells and a wholesale fuel distributorship that will benefit from
substantial operating efficiencies.

Safe Harbor

This release contains various forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended which
represent the company's expectations or beliefs concerning future events
of the company's financial performance. These forward-looking statements
are further qualified by important factors that could cause actual
results to differ materially from those in the forward-looking
statements. The words "may," "could," "should," "believe," "anticipate,"
"estimate," "expect," "intend," "plan" and similar words are intended to
identify forward-looking statements. These forward-looking statements are
based on the Company's current plans and expectations and involve a
number of risks and uncertainties that could cause actual results and
events to vary materially from the results and events anticipated or
implied by such forward-looking statements. Any number of factors could
affect actual results and events, including, without limitation: the
ability of the Company to take advantage of expected synergies in
connection with acquisitions; the actual operating results of stores and
/ or properties acquired; the ability of the Company to integrate
acquisitions into its operations; fluctuations in domestic and global
petroleum, coal and gasoline markets; changes in the competitive
landscape of the coal industry, convenience store industry, including
gasoline stations and other non-traditional retailers located in the
Company's markets; the effect of national and regional economic conditions
on the convenience store industry and the markets we serve; the effect of
regional weather conditions on customer traffic; financial difficulties of
suppliers, including our principal suppliers of gas and merchandise, and
their ability to continue to supply our stores; environmental risks
associated with selling petroleum products; governmental regulations,
including those regulating the environment; and acts of war or terrorist
activity. Results actually achieved may differ materially from expected
results included in these statements. The Company is under no obligation
to, and expressly disclaims any such obligation to, update or alter its
forward-looking statements, whether as a result of new information, future
events or otherwise. Furthermore, the Company cautions that the risk
factors listed in this paragraph are not exhaustive.

Contact:
David Cohen
President & CEO
Petroleum Consolidators of America, Inc.
(561) 483-4440
Email Contact
www.petroleumconsolidators.com

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