SMF Energy (FUEL) Enters Letter of Intent with Lazarus Energy

March 18, 2008 2:50 PM EDT

SMF Energy Corporation, (NASDAQ: FUEL) has entered into a non-binding letter of intent with Houston-based Lazarus Energy Holdings LLC to acquire Lazarus Energy, LLC, which owns the Nixon Refinery located 50 miles east of San Antonio, Texas and 70 miles southeast of Austin, Texas.

Lazarus Holdings also owns three (3) other idled refineries which are located at Longview, Texas, Mermentau, Louisiana and Church Point, Louisiana. Under the proposed agreement with Lazarus Holdings, SMF will have an option to acquire these additional three (3) refineries which have an aggregate estimated crude capacity of 60,000 barrels per day and annual refined product production of 800 million to 900 million gallons.

SMF Energy Corporation, formerly Streicher Mobile Fueling, Inc. (Streicher) is engaged in providing petroleum product distribution services, transportation logistics and emergency response services to the trucking, manufacturing, construction, shipping, utility, energy, chemical, telecommunication and government services industries. [SM]

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