December 14, 2017

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American Natural Closes Series of Strategic Transactions to Facilitate Growth Plan

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PITTSBURGH, Dec. 7, 2017 /PRNewswire/ — American Natural, the convenience store and fuel distribution business owned by Cleopatra Resources LLC (“American Natural” or “the Company“), announced today: (i) their plan to roll out five additional American Natural retail sites (“Energy Centres”) locations in 2018 and (ii) the acquisition of Satterlee Leasing, LLC and certain business assets of W.G. Satterlee and Sons (collectively, “Satterlee“), a leading wholesale fuel distributor in western Pennsylvania.

“Expanding our retail Energy Centre network and wholesale distribution infrastructure will offer unique benefits and best-in-class products and services to our entire customer base,” said Jennifer Pomerantz, Chief Executive Officer.

American Natural to Add 5 Additional Retail Locations in 2018
The Company announced its 2018 expansion plans today, which will include an additional five retail locations across the Pittsburgh region that will use the same American Natural Energy Centre format as its flagship site in Harmar, PA. The Harmar Energy Centre recently won the “Best Original Design of 2017” award from Convenience Store News. “American Natural’s signature Eatery stands alone in the region for its premium quality, variety of fresh and local offerings and commitment to warm and efficient service,” said Ms. Pomerantz. She added, “American Natural’s differentiated approach to fueling and convenience offers both a modern in-store experience and a choice of conventional and alternative fueling options.” American Natural continues to explore additional sites in the Pittsburgh area — and in other nearby markets — for future development, including additional locations that will offer compressed natural gas solutions for fleet customers.

American Natural Supply Closes Satterlee Acquisition along with additional Equity Financing led by Tiger Infrastructure Partners and Strategic Financial Partnership with Orion Energy Partners 
Complementing this growth, the Company’s wholesale distribution subsidiary, American Natural Supply (“ANS“), has acquired the key business assets of Satterlee, one of the leading wholesale fuel suppliers in western Pennsylvania. With this acquisition, ANS will become one of the largest commercial fuel suppliers in the region, with a network of terminals and related infrastructure that supports the fueling needs of thousands of customers. Notably, Satterlee provides fuel sales, delivery, management and related services to support E&P companies’ field service activities in the Marcellus and Utica shale formations.

“We are proud to partner with the Satterlee team and are pleased to welcome them to American Natural. We believe the combined fueling infrastructure will help ANS further develop Satterlee’s already strong market position and continue to provide industry-leading service to our customers,” said the CEO.

Concurrent with these strategic announcements, the Company

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