Able Energy Announces CFO Change

  
    
  
  
    
      Able Energy, Inc. ("Able" or the “Company”) announced today that it has 
      appointed John F. O’Brien as Interim Chief Financial Officer to replace 
      Daniel Johnston who is leaving the company for personal reasons. Mr. 
      Johnston will continue to assist the Company on a consulting basis as 
      his time permits and as required by the Company.
    
    
      Mr. O’Brien has an extensive background in financial accounting 
      management, regulatory requirements of public companies, investment 
      banking, private equity, M&A, financial operations and venture capital. 
      He has managed numerous transactions related to mergers and acquisitions 
      for clients ranging in size from small capitalization enterprises to 
      Fortune 1000 companies, handled public market IPO’s, and provided 
      strategic and financial advisory services to both public and private 
      corporations in a variety of industries.
    
    
      Most recently, Mr. O’Brien was a Managing Director at Aegis Capital 
      Corp. Additionally, he has experience as the founder and CEO and CFO of 
      MultiTechnics Corp. in Boston, MA, which was a multi-unit retail store 
      chain. Earlier in his career, he also served as CFO of Miles River 
      Development Corp., of Boston, a real estate development company. Mr. 
      O’Brien holds a Bachelor of Arts degree in economics from Boston College.
    
    
      Gregory D. Frost, the Company’s CEO and Chairman, stated, “We thank Mr. 
      Johnston for all his hard work and contributions to the Company, 
      particularly in the preparation of our most recent financial reports. We 
      are pleased to have Mr. O’Brien join us at this particularly challenging 
      time and welcome his assistance in our effort to secure additional 
      sources of capital to fund our operations and growth efforts. The 
      current financial crisis in the US has presented us with similar 
      difficulties as that of many other companies but we are making progress 
      in stabilizing our business, cutting expenses and managing our limited 
      resources.”
    
    
      The Company will continue to engage outside, independent financial 
      consultants to assist Mr. O’Brien with the preparation of the Company’s 
      SEC filing requirements.
    
    
      Able is engaged in two primary business activities, organized in two 
      segments: the Oil Segment and the Travel Plaza Segment. The Company’s 
      Oil Segment is engaged in the retail distribution of, and the provision 
      of services relating to, #2 home heating oil, propane gas, kerosene, and 
      diesel fuels. In addition to selling liquid energy products, the Company 
      offers complete heating, ventilation and air conditioning (“HVAC”) 
      installation and repair and other services and also markets other 
      petroleum products to commercial customers, including on-road and 
      off-road diesel fuel, gasoline and lubricants. The Company’s Travel 
      Plaza Segment, operated by its wholly-owned subsidiary All American 
      Plazas, Inc., is engaged in the retail sale of food, merchandise, fuel, 
      personal services, onsite and mobile vehicle repair, services and 
      maintenance to both the professional and leisure driver through a 
      network of travel plazas, located in Pennsylvania, New Jersey, New York 
      and Virginia.
    
    
      This announcement includes forward-looking statements based on current 
      expectations. Opinions, forecasts, projections or statements other than 
      statements of historical fact, are forward-looking statements that 
      involve risks and uncertainties. You can find the Company's filings with 
      the Securities and Exchange Commission at www.ableenergy.com 
      or at www.sec.gov. 
      By making these forward-looking statements, the Company undertakes no 
      obligation to update these statements for revisions or changes after the 
      date of this release.