NTR Acquisition Co. Announces Termination of Agreement to Acquire Kern Oil & Refining Co.

  
    
  
  
    
      NTR Acquisition Co. (AMEX, Units: NTQ.U, Common Stock: NTQ, Warrants: 
      NTQ.WS), a special purpose acquisition company focused on the petroleum 
      refining and marketing industry, today announced that it has mutually 
      agreed with Casey Co., the sole shareholder of Kern Oil & Refining Co., 
      to terminate the Stock Purchase Agreement dated November 2, 2007, 
      pursuant to which NTR would have acquired all outstanding shares of Kern 
      for a base purchase price of $286.5 million.
    
    
      NTR’s Chief Executive Officer Mario E. 
      Rodriguez commented, “We remain committed to 
      executing our business plan. Based on the experience and relationships 
      of NTR’s senior team, we continue to see a 
      strong pipeline of potential deals and will pursue acquisition 
      opportunities that maximize value to our shareholders.”
    
    
      Under the terms of its initial public offering, NTR has a two-year 
      charter to acquire businesses or assets in the energy industry. The 
      charter expires on January 30, 2009.
    
    
      Investor Conference Call
    
    
      NTR will be hosting a conference call for investors at 10:00 AM Eastern 
      on Friday, April 4, 2008, to discuss the termination agreement. The 
      dial-in details are as follows:
    
    
      
        
          Domestic: [phone]
        
      
      
        
          International: [phone]
        
      
      
        
          Participant Passcode: 21174968
        
      
    
    
      Additionally, a replay will be available for one week after the call. 
      The dial-in details for the replay are as follows:
    
    
      
        
          Domestic: [phone]
        
      
      
        
          International: [phone]
        
      
      
        
          Participant Passcode: 53531694
        
      
    
    
      About NTR Acquisition Co.
    
    
      NTR is a special purpose acquisition company organized under the laws of 
      the State of Delaware on June 2, 2006. NTR was formed to acquire, 
      through a merger, capital stock exchange, asset acquisition or other 
      similar business combination, one or more businesses or assets in the 
      energy industry, with a particular focus on businesses or assets 
      involved in the refining, distribution and marketing of petroleum 
      products in North America.
    
    
      Forward Looking Statements
    
    
      This press release contains forward-looking statements. Statements 
      that are not historical facts, including statements about beliefs and 
      expectations, are forward-looking statements. Although NTR 
      believes that the assumptions on which the forward-looking statements 
      contained herein are based are reasonable, any of those assumptions 
      could prove to be inaccurate given the inherent uncertainties as to the 
      occurrence or non-occurrence of future events. Among the many 
      factors that could cause actual results to differ from forward-looking 
      statements contained herein and in the exhibits hereto include: 
      economic, business and political conditions in the United States and 
      abroad; fluctuations in oil and gas prices; changes in applicable laws 
      and regulations; the ability to identify suitable targets for NTR’s 
      initial business combination; risks that no definitive agreement can be 
      reached in connection with an initial business combination or that an 
      initial business combination may not be consummated at all; and other 
      risk factors set forth from time to time in NTR’s 
      filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). 
      The inclusion of any forward-looking statement in this press release 
      should not be regarded as a representation by NTR that NTR’s 
      objectives will be achieved. NTR undertakes no obligation to 
      publicly update forward-looking statements, whether as a result of new 
      information, future events or otherwise.