DALLAS, July 5, 2012 — Frontier Oilfield Services, Inc. (OTCQB: FOSI) announces the record results of Trinity Disposal and Trucking, LLC (TDT), its majority owned subsidiary. Income from operations during the production month of May 2012 reached $1,058,956.00 generating a corresponding EBITDA of $229,391.00.
Frontier acquired majority interest of TDT on June 6, 2012 as a result of a successful $5.5 million financing with Lonestar Income and Growth, LLC of Dallas, Texas. TDT’s monthly gross operating revenue for 2012 is currently on a projected annual run rate of $9 million and has an estimated $15 million unaudited value in assets consisting primarily of the value of commercial disposal wells, trucks, customer contracts and its operational office and real property.
Kenneth Conte, Vice President and CFO of Frontier stated, “We are pleased with the results of TDT to date and are currently having updated appraisals completed for inclusion in the consolidated 3rd quarter 10Q. We are anticipating a smooth integration with our anticipated future acquisitions.”