Company plans to implement debt restructuring to enhance operations and convert majority of debt to new equity

Dallas, Texas (September 10, 2009) PNG Ventures, Inc. today announced it and its wholly owned subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc. (collectively, the “Company”), filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The filings were made to facilitate a broad-based debt restructuring plan which contemplates conversion of a majority of the Company’s outstanding debt to new common equity, and to mitigate the impact of certain onerous contracts inherited as part of the Company’s June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.

Throughout the reorganization process, the Company will continue to operate its business in the ordinary course and does not expect that the Chapter 11 filing will have any adverse effect on its day-to-day operations or delivery of products or services to its customers.

Cem Hacioglu, President & CEO of PNG Ventures, said “Restructuring and recapitalizing our balance sheet is a critical step in positioning the Company to take advantage of the tremendous growth opportunities in the alternative fuels market. Today’s action will allow us to secure long-term relief from some of the debilitating legacy debt and operational impediments we inherited when the Company acquired its baseline LNG operations from Earth Biofuels in June 2008 and maintain our leadership position in providing innovative natural gas based fueling solutions to our customers. We will emerge from this process with substantially less debt and a dramatically improved capital structure which, in turn, will position us to be a stronger competitor and further support our long-term objective of becoming the preeminent provider of cleaner burning fuels for the domestic and international markets.”

In conjunction with its Chapter 11 petitions and standard and customary first day motions, the Company’s filing included a proposed Plan of Reorganization (the “Plan”) that contemplates, among others: (i) settlement of the majority of the Company’s senior credit facility for approximately 66% of the common stock of the newly reorganized Company, with the balance being settled for a combination of cash and a new four-year term loan; (ii) settlement of the Company’s trade debt and unsecured debt  for approximately 28% of allowable claim amounts and 7.5% of the  common stock of the newly reorganized Company; and (iii) securing financing  of approximately $8.4 million to fund the Plan, for a combination of a new  four-year term loan and approximately 26.5% of the new common stock of the newly reorganized Company. Under the proposed Plan, our existing equity would be eliminated, including all options, warrants and other derivative instruments that are linked to our existing equity.

The foregoing is intended as a summary of the terms of the Plan. A more detailed description can be found within the Company’s Current Report on Form 8-K which will be filed with the Securities and Exchange Commission. A copy of the Plan and Disclosure Statement are available at www.altlng.com. As the Plan and Disclosure Statement have not yet been approved by the Court, the Plan and Disclosure Statement may be materially modified before approval.

The Company’s bankruptcy counsel is Fox Rothschild, LLP.

This press release is for informational purposes only and is not a solicitation to accept or reject the Plan or an offer to sell or a solicitation of an offer to purchase any securities of the Company. Any solicitation or offer to sell will only be made pursuant to and in accordance with the Disclosure Statement and Plan of Reorganization distributed in accordance with the Bankruptcy Code, securities laws and other applicable laws and regulations.

About PNG Ventures, Inc.

Through its Applied LNG Technologies and other subsidiaries, the Company engages in the production, distribution, and sale of liquefied natural gas (“LNG”) to customers consisting of public utilities, industrial end-users and other fleet customers within the transportation, manufacturing, distribution, and municipal markets, primarily in California, Arizona, and Nevada. The Company also offers turnkey fuel solutions, including delivery, equipment storage, fuel dispensing equipment, and fuel loading facilities.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of  Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the Company’s ability to obtain court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period that the Company has to propose and confirm a Plan of Reorganization; the appointment of a Chapter 11 trustee or examiner or to convert the Company’s bankruptcy cases to cases under Chapter 7 of the U.S. Bankruptcy Code; the Company’s ability to obtain and maintain normal terms with vendors, service providers, and leaseholders and to obtain orders authorizing payments to such parties; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission and other filings with the SEC.  Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. Accordingly, the Company urges that the appropriate caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.

Contact:
Rachel Croft
214-613-0214
or email: info@altlng.com

The Board of Directors of PNG Ventures, Inc. (OTCBB:PNGX) announced today that it has appointed Cem Hacioglu as President and Chief Executive Officer, effective February 16, 2009.

PNG Ventures, Inc. produces liquefied natural gas ("LNG") from its production facility in Topock, AZ through its wholly-owned subsidiary Applied LNG Technologies USA, LLC (ALT). ALT currently produces and distributes over two million gallons monthly of vehicle-grade LNG to municipal and commercial transportation markets in the western United States.

“ALT has the potential to be the preeminent competitor in the growing LNG and alternative fuels market,” said Hacioglu. “I am grateful to our interim CEO, Kevin Markey, for his leadership during this critical transition period and intend to build upon his accomplishments. I look forward to working closely with him in his capacity as the Vice President of Sales and Operations of PNG Ventures.”

Hacioglu, 38, will continue to serve as a director of PNG, a position he has held since August 20, 2008. A co-portfolio manager of the Direct Investment Group of Sandell Asset Management Corp. since May 2005, a shareholder PNG, and former portfolio manager of Millennium Partners where he helped manage Millennium's direct investment portfolio, Hacioglu has held various positions at Fletcher Asset Management, Merrill Lynch and the World Bank. He earned his B.S. Degree in Economics from the United States Military Academy, West Point, and his M.B.A. in Financial Management from the MIT Sloan School of Management.

PNG Chairman of the Board, W. Phillip Marcum, said, “We are happy that Cem has agreed to become President and Chief Executive Officer of PNGX and look forward to the future growth and success of the Company under Cem’s leadership."

About ALT

Applied LNG Technology (ALT) produces and markets liquefied natural gas (LNG).  ALT owns a production facility located in Topock, Arizona, currently producing over 2-Million gallons monthly of vehicle-grade LNG.  Along with that facility and other LNG production facilities, ALT has the capability of supplying the western and southwestern United States with commercial quantities of vehicle-grade LNG fuel.  ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services.  ALT’s customer base includes large municipal fleets, various refuse companies, major ports and other commercial trucking fleets.  Possible feedstock sources for LNG production include landfill gases or methane sources from agricultural biomass facilities.  The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.  ALT is wholly owned by PNG Ventures, Inc. (OTCBB: PNGX). 

Forward Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies USA, LLC (“ALT”), wholly owned subsidiary of PNG Ventures, Inc. (OTCBB: PNGX), today announced an agreement to supply liquefied natural gas (LNG) and fueling equipment to Burrtec Waste and Recycling Services for their fleet of 18 LNG refuse haulers used for residential, municipal, industrial and commercial waste management services at their Palm Desert, California location.

Founded in 1955, the Burrtec Waste family of companies is the largest privately held solid waste management organization in the State of California.  Having already converted more than 50 percent of its fleet to either Liquefied Natural Gas (LNG) or Compressed natural Gas (CNG) fuels, the company received recognition, including the Natural Gas Vehicle Coalition Award, for their efforts and commitment to the environment. ALT has provided LNG to Burrtec at its Fontana, California location for more than five years.

“ALT has been a reliable source of LNG for many years,” said Frank Orlett, District Manager of the Burrtec Waste Palm Desert location.  “We wanted them to be a part of our Palm Desert operation because they’ve demonstrated excellence in customer service and provided a dependable supply of quality fuel.”

Burrtec Waste’s utilization of LNG enables them to honor their commitment to provide the most cost-effective solution while meeting the needs of the communities they serve.  Burning LNG reduces harmful emissions of smog-forming NOx by more than 30 percent and Greenhouse Gas emissions by more than 20 percent.  Burrtec’s use of clean-burning LNG will significantly reduce transportation costs and harmful emissions, allowing their fleet to run more efficiently and with less maintenance.

 “Burrtec Waste seeks to utilize the best in technology and environmental efficiencies,” said Kevin Markey, President and CEO of ALT. “We’re here to help them improve, not only their bottom line, but the environment they operate in.  We look forward to growing with them.”

About ALT

ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX).  The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.

About Burrtec Waste Industries

Headquartered in Palm Desert, California, Burrtec Waste and Recycling Services serves the communities of Cathedral City, Coachella, Indian Wells, Indio, La Quinta, Palm Desert, Rancho Mirage, Salton Sea, Twenty-nine Palms, Yucca Valley as well as areas of unincorporated Riverside and San Bernardino County.  The company provides collection, recycling, and disposal services to public sector, commercial, industrial and residential customers throughout this area.  Burrtec Waste Industries, Inc., its sister company EDCO Disposal Corporation and other Burrtec affiliated companies collectively make up the largest privately held solid waste management organization in the State of California.  Originally started by the Burr family in 1955, the Company is still owned and operated by the Burrs'.  For more information visit the company’s Website at www.burrtec.com or http://www.burrtecdesert.com/.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies USA, LLC (“ALT”) announced an agreement to supply liquefied natural gas (LNG) to HayDay Farms™ for use in their new fleet of state-of-the-art LNG fueled trucks used in the distribution of their feed products and in port delivery for overseas shipping.

HayDay Farms is committed to the improvement of the environment and has replaced its fleet of diesel trucks with units that utilize clean-burning LNG fuel.  The use of LNG will help to reduce harmful emissions of smog-forming NOx by more than 30 percent and Greenhouse Gas emissions by more than 20 percent. 

While these clean-burning LNG trucks will significantly reduce the amount of harmful emissions emitted into the air, they will significantly reduce HayDay Farm’s distribution costs and allow their vehicles to run more efficiently and with less maintenance.  With a significant cost advantage, fleet operators report a 30 percent or better operational cost savings when running LNG trucks in place of diesel units.    HayDay Farms expects to see similar results.

HayDay Farms is a highly dependable supplier of quality feed products for foreign and domestic dairy and beef cattle and show and stock horses. With more than 12,000 acres of farmland and 40,000 tons of storage capacity, HayDay Farms grows, harvests, and stores it own product before distributing to Japan, Korea, Taiwan, and throughout the United States.   Future expansion is slated for China and Europe.

“Our success is due in part to selecting the right partners and we believe ALT will play an integral role as we continue to convert our operations to environmentally responsible methods,” said Lyndon Ichida, President of HayDay Farms. “Given the amount of transport our company manages, it is important to HayDay Farms to put systems in place that help protect the environment and that help to improve our own financial bottom line.”

“HayDay farms represents the next generation of LNG fleet operators,” said Kevin Markey President of ALT. “They converted their fleet voluntarily to take advantage of the significant cost savings of LNG over diesel -- while at the same time assisting in reducing our dependence on foreign oil and reducing greenhouse emissions.”

About ALT
ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX).  The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.

About HayDay Farms
HayDay Farms is a vertically integrated agricultural system. The company owns and operates its own farms, processing plant, storage facilities and delivery system, enabling it to control all aspects of farming and exporting and ensuring consistent quality.

Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies USA, LLC (“ALT”) announced today it will participate and exhibit (booth #105) at the Southern California AQMD Clean Vehicle Technology EXPO (EXPO) on October 13 – 15 in Ontario, California.

The agency, also called South Coast Air Quality Management District (AQMD), is the air pollution control agency over all of Orange County and the urban portions of Los Angeles, Riverside and San Bernardino counties, the second most populated urban area in the United States and one of the smoggiest.  AQMD is committed to undertaking all steps necessary to protect public health from air pollution, with sensitivity to the impacts of its actions on the community and businesses.

EXPO is part of the AQMD’s overall program to reduce emissions from mobile sources, accounting for over 75 percent of the Southland's air pollution. This year, EXPO will focus on the latest in clean vehicle technologies—diesel emission control devices; light, medium and heavy-duty alternative fuel and hybrid vehicles; fuel cell and electric vehicles; plug in electric hybrids—while giving private and public fleet owners and operators the opportunity, to learn about the billions of dollars available in funding programs.

During the South Coast AQMD’s new "Money Monday," presentations and workshops will focus on:

• California's $1 billion Prop 1B Program to purchase new diesel and alternative fuel trucks and the ARB On-Road Truck Rule.
• California's $1.4 billion (AB 118) Alternative and Renewable Fuel and Vehicle Technology Program for technology RD&D and deployment.
• SCAQMD "SOON" Program for off-road equipment.
• Real world fleet success stories of operational cost savings through alternate fuels in transit, solid waste collection, and on-road trucking.
• Carl Moyer Program, MSRC, EPA funding, and more.

“EXPO is an important event for us, enabling us to interact with our customers and network among the industry’s leading professionals,” said Kevin Markey, Vice President of Operations for ALT. “We look forward to receiving and sharing valuable information about clean vehicle technologies and the economic and environmental benefits of LNG.”

About ALT

ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX).  The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com.

About Southern California Clean Vehicle Technology EXPO

Now in its fourth year, the AQMD Clean Vehicle Technology EXPO returns to the Ontario Convention Center, October 13-15, 2008. EXPO is California's premier and most comprehensive event for fleet and purchasing managers, infrastructure providers, diesel emission reduction technology companies, public agencies, alternative fuel stakeholders, and other industry experts to see, touch, and experience the latest in clean vehicle technologies while learning about the billions of dollars in funding programs available for the purchase of these technologies.  For more information visit the event’s website at http://www.cleanvehicleexpo.com.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies USA, LLC (“ALT”) announced a contract to provide LNG for equipment testing purposes to Nikkiso, a world leader in Cryogenic Pump design and production.

“Having a reliable source of LNG is critical to the success of our international sales operations,” said Charles Molina, President, Nikkiso Cryo, Inc (NCI).  “ALT is well-situated to offer cost effective distribution to our location, guaranteeing the success of our cryogenic pump tests.”

At their state-of-the-art facility in N. Las Vegas, Nevada, NCI manufactures and rigorously tests cryogenic pumps used in the global storage, transportation and distribution of natural gas.  Cryogenic pumps can be found in land-based terminals, ships, and new offshore facilities responsible for delivering natural gas to the consumer. Customers travel to the facility from around the globe to witness the performance test, a process that replicates the pumps operating conditions in the field.

“Providing LNG to Nikkiso is vital to the testing process required to insure the strategic supply of LNG, a critical energy source for the US and other Global markets”, said Kevin Markey, Vice President of Operations for ALT.  “We appreciate the opportunity to play such an important role in Nikkiso’s production and testing process.”

About ALT

ALT’s production facility located in Topock, Arizona is wholly owned by Arizona LNG, LLC, sister company to ALT, and is a subsidiary of PNG Ventures, Inc. (OTCBB: PNGX).  The Company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s web site is www.altlng.com.

About Nikkiso Cryo, Inc.

Nikkiso Cryo, Inc. (“NCI”) is a subsidiary of Nikkiso Co., Ltd.  Originally designed as a Cryogenic Pump test facility for the Higashimurayama factory in Tokyo, Japan, NCI has evolved, becoming a Production Facility with growing Engineering, Procurement, and Sales capabilities and the most highly trained and motivated staff, in the cryogenic pump production business.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies ("ALT") announced a contract with Pacific Harbor Line to provide LNG for the Pacific Harbor Line locomotive fleet which serves the nation’s leading container port, the Port of Los Angeles. ALT LNG provides approximately 800 to 1000 gallons of LNG per delivery to Pacific Harbor on a schedule of every 4 -5 days.  LNG fuel reduces emissions from the air compared to traditional diesel fueled locomotives.

“ALT LNG has been a reliable and competitively priced source for the LNG we need to fuel our locomotives,” said Mike Stolzman, vice president Pacific Harbor Line.  “The fuel was put through a stringent testing and approval process and it has proven to meet all required fuel and safety standards.”

“The pilot program with Pacific Harbor Line has been very successful and we plan to provide more demonstrations of the usage and benefits based on what we have done with Pacific Harbor,” said Kevin Markey, vice president operations ALT LNG.

About PNG

PNG Ventures (OTCBB: PNGX) has 100% ownership of ALT LNG and its production facility located in Topock, Arizona.  The company produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The company''''s Web site is www.altlng.com.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

PNG Ventures, Inc. (OTCBB: PNGX) today announced its wholly owned subsidiary, Applied LNG Technologies USA, LLC (“ALT”) has executed a liquefied natural gas (“LNG”) supply contract with the City of Phoenix, Arizona. Under the terms of the agreement, PNG Ventures will supply over 10 million gallons to the City over the course of the next twelve months. The City of Phoenix will use the LNG as a transportation fuel for its municipal transit buses.

The City of Phoenix is the largest single purchaser of transportation LNG in the United States.

Director of the City of Phoenix Public Transit Department, Debbie Cotton, stated, “The City of Phoenix is proud to be a leader in the advancement of the use of LNG as a clean, affordable alternative solution to this nation’s energy concerns. We are pleased to be working with ALT in offering clean, domestically produced LNG to our municipal fleet.”

Kevin Markey, interim CEO of PNG Ventures, said, “Our agreement with the City of Phoenix is a great addition to the growing strength of ALT. We are excited to begin this relationship with such a forward-looking partner.”

PNG Ventures, Inc., through its wholly owned subsidiary, ALT, produces liquefied natural gas (“LNG”) from its production facility in Topock, AZ and distributes its product to municipal and commercial transportation markets in the western United States. The Company’s new web site is currently under construction. ALT’s website is www.altlng.com.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Earth Biofuels, Inc. (OTCBB: EBOF) today announced the closing of a share exchange with PNG Ventures, Inc. (OTCBB: PNGX) that has resulted in PNGX acquiring EBOF’s wholly-owned subsidiary, New ELNG, LLC, which includes Applied LNG Technologies USA, LLC (“ALT”) and its related LNG business, in exchange for the transfer to EBOF of a majority ownership of PNGX.

With the acquisition, PNGX is now positioned to grow ALT’s LNG business of producing and distributing liquefied natural gas (“LNG”) as a transportation fuel.  As a result, Earth Biofuels’ management believes its shareholders will benefit through the Company’s ownership in PNGX.  Kevin Markey, former Vice President of Sales for ALT, will be serving as interim CEO of PNGX.

LNG is becoming a fuel of choice among large fleet operators who are seeking cleaner and less costly options to traditional diesel fuel.  At current oil and gas prices and tax incentive programs, LNG is between one half and two thirds the cost of petroleum diesel as a fuel for vehicles, depending on the customer.  Additionally, emissions of greenhouse gases and particulate matter from LNG-powered vehicles are significantly lower than those from petroleum diesel-powered vehicles.

The spin-off transaction is an important part of EBOF’s restructuring plan, described in its SEC report on Form 8-K filed on 21 November 2007.  The share exchange has allowed EBOF to restructure its financial obligations and pursue its main focus of biodiesel and cellulosic ethanol production and alternative fuels distribution.

EBOF’s CEO, Dennis McLaughlin, stated, “Our management believes this transaction will unlock the value of the company’s LNG business and allow it to grow both in terms of production capacity as well as market penetration.  The management of PNGX will be able to focus on growing the LNG business as a pure play, and EBOF and its shareholders will benefit through its substantial ownership of a significant player in the fast growing LNG industry.”

Earth Biofuels, Inc. endeavors to produce and distribute biodiesel fuel and cellulosic ethanol through wholesale and retail outlets. The biodiesel fuel is sold under Willie Nelson''s brand name, "BioWillie^®." The Company''s Web site is www.earthbiofuels.com.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Earth Biofuels, Inc. (OTCBB: EBOF) announced the execution of a binding letter of intent with PNG Ventures, Inc. (OTCBB: PNGX) whereby PNG Ventures has agreed to purchase a 100% ownership interest in Earth Biofuels’ wholly-owned subsidiary, Earth LNG, Inc.

PNG Ventures is to acquire 100% ownership of Earth LNG and all of its subsidiaries, including ALT LNG and its production facility located in Topock, Arizona.  Earth Biofuels is to receive stock ownership in PNG Ventures as consideration for the transaction.  PNG Ventures and Earth Biofuels have agreed to use best efforts to close the transaction on or before June 30, 2008, and have agreed to a break up fee to be paid to PNG Ventures in the event the transaction does not close.

Earth Biofuels is actively engaged in the transition and the establishment of the changes in PNG Ventures’ management in order to re-direct its business focus to liquefied natural gas (“LNG”) production and distribution. 

Earth Biofuels CEO, Dennis McLaughlin, stated, “This pending transaction accomplishes several goals for our company.  First, it will unlock the value of the LNG business by virtue of its existence in a new public company dedicated to growing the LNG operations.  Second, as Earth Biofuels will initially own a controlling interest in PNG Ventures, we believe that it will allow our shareholders to participate in the increased valuation and future growth of the LNG business.  Based on the proposed structure (which is yet to be finalized), the imputed value of the transaction would be, in management’s estimation, approximately $125 million.  Third, it will be part of an overall settlement with prior Earth Biofuels creditors pursuant to the interim restructuring agreement described in our SEC report on Form 8-K filed on November 21 of last year.”

“Earth Biofuels will now be able to focus on its business plan of developing biodiesel production from diverse feedstocks, retail distribution of alternative fuels through fueling stations and truck stops such as ‘Willie’s Place at Carl’s Corner’, and the development of cellulosic ethanol production facilities,” Mr. McLaughlin concluded.

Earth Biofuels, Inc. endeavors to produce and distribute biodiesel fuel and cellulosic ethanol through wholesale and retail outlets. The biodiesel fuel is sold under Willie Nelson''''s brand name, "BioWillie^®." The Company''s Web site is www.earthbiofuels.com.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies, LLC (“ALT”) today announced that it has renewed its contract to provide the City of Long Beach, California with liquefied natural gas. 

The City of Long Beach utilizes liquefied natural gas (“LNG”) as transportation fuel for its municipal fleet of approximately 200 natural gas-powered vehicles.  The City currently uses approximately 10,000 gallons of LNG per week. 

“We are pleased to continue the relationship with ALT,” stated Erik Sund, purchasing agent for the City of Long Beach.  “ALT has provided LNG to Long Beach since 2003 and this contract renewal ensures that our city will continue to utilize clean burning, domestically produced fuel for our fleet vehicles.”

The City of Long Beach’s commitment to alternative fuels and sustainable practices via ALT has resulted in a 25% decrease in fuel cost for LNG vehicles. The City of Long Beach currently maintains a LNG fleet of 70 vehicles ranging from sweepers, dump trucks to asphalt patch trucks. In addition, Long Beach’s LNG units have contributed to a 15 to 20% reduction in greenhouse gas emissions over equivalent diesel engines.

ALT’s Vice President, Kevin Markey, said “We are pleased to continue working with the City in its efforts to provide LNG to its municipal fleet and look forward to contributing to Long Beach’s ‘green’ initiatives.”

About the Company

ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s Web site is www.altlng.com.

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Applied LNG Technologies, LLC (“ALT”) today announced it has entered a three year agreement to supply the City of San Bernardino, California with liquefied natural gas.

The City of San Bernardino utilizes liquefied natural gas (“LNG”) as transportation fuel for its municipal fleet vehicles.

“We are pleased to be working with ALT in offering clean, domestically produced LNG to our municipal fleet and to the public in a convenient location,” stated Don W. Johnson, Fleet Manager for the city.  “ALT has been a great partner in this effort.”

Under the terms of the agreement, ALT will also provide maintenance for the city’s existing LNG public access station.

Kevin Markey, Vice President of ALT, commented, “Our agreement with the City of San Bernardino is a great addition to the growing strength of ALT.  It allows ALT to provide LNG on a long term basis in a well-maintained public access station and gives San Bernardino peace of mind knowing that they have stability regarding their LNG supply”. 

About the Company

ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s Web site is www.altlng.com.

Applied LNG Technologies, Inc. (“ALT”) today announced it has executed a new three year supply agreement to sell and deliver liquefied natural gas (“LNG”) to SYSCO Food Services of Los Angeles, Inc., a subsidiary of SYSCO Corporation (NYSE: SYY).

As is the case with its numerous other West Coast customers, ALT will deliver the LNG from its plant in Topock, Arizona to SYSCO of Los Angeles for use in SYSCO’s fleet of delivery trucks.

Robert Kidder, Manager of Fleet and Facilities for SYSCO Foods of LA, stated, “Signing this long term contract with ALT provides us a secure source of LNG at costs significantly lower than diesel prices.”

ALT’s Vice President of Operations, Kevin Markey, said, “This long term agreement gives ALT the opportunity to continue our relationship with an outstanding group like SYSCO Foods of LA that is dedicated to natural gas fuel alternatives.”   

Transportation grade LNG helps companies meet strict emission standards in the state of California.  Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.  

Forward-Looking Statements Disclosure

This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

Per the terms of a prior agreement, ALT has the first right to purchase one hundred percent of the nameplate capacity (5,000 gallons per day) production of the LNG facility which is owned by a wholly-owned subsidiary of Prometheus Energy Company at the Frank R. Bowerman Landfill.  ALT markets the LNG to the Orange County Transportation Authority.

ALT’s Vice President of Operations, Kevin Markey, said, “We are excited to incorporate renewable LNG from landfill gas into our growing California market.  The demand for clean, transportation-grade LNG in California has never been higher.”

Prometheus’ Chief Operating Officer, Earl Franklin, added, “We are proud to have the first LNG production facility of its kind in operation and look forward to growing our relationship with ALT.”

Solid waste landfills produce a 50% methane gas as a result of the decomposition of organic materials within the landfill.  The Bowerman production facility is the first of its kind in the U.S. to commercially produce renewable vehicle-grade LNG from landfill gas.

Transportation grade LNG helps companies meet strict emission standards in the state of California.  Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.

About ALT LNG

ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company''s website is www.altlng.com.

Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws.  In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning.  These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct.  In connection with the “safe harbor” provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company’s anticipated results, projections, or other expectations are disclosed in the Company’s filings with the Securities and Exchange Commission.  All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.

The City of Redlands now offers the public access to purchase Liquefied Natural Gas and Compressed Natural Gas (LNG/CNG) through the renewal of a three-year contract with Applied LNG Technologies (ALT), the largest provider of vehicle-grade LNG in the Western United States.

Liquified Natural Gas (LNG) meets California’s strict emission standards and is now more readily available for use by commercial vehicles, heavy-duty trucks, utility companies, fleets, light-duty trucks and consumer CNG vehicles.  Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles. 

The City of Redlands’ fueling station is located at 1270 West Park Avenue and will be open Monday through Friday, 5:30 a.m. to 5:30 p.m. and Saturday, 5:30 a.m. to 4:00 p.m.

“We are pleased to be able to offer the public access to clean, domestically produced LNG and CNG in a convenient location and ALT has been a great partner in this effort,” said Gary Van Dorst, Director of Quality of Life Department, City of Redlands.

Through California’s South Coast Air District and Air Quality Management grants, the City of Redlands will operate 20 of its 32 municipal vehicles on LNG/CNG fuels by the fiscal year end.

“This is a win-win agreement because it allows ALT to provide LNG on a long term basis and gives the City of Redlands peace of mind knowing that they have stability regarding their LNG supply,” said Kevin Markey, Vice President, ALT, Inc.

About ALT LNG
ALT LNG produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's Web site is www.altlng.com.

Applied LNG Technologies (ALT) announces its participation in the Mobility 21 Sixth Annual Southern California Transportation Summit, Monday, November 5, 2007, reports Kevin Markey, Vice President Operations. 

"Mobility 21 was created in 2002 to bring together elected officials, transportation providers, businesses, local municipalities, labor and community leaders to develop solutions to the transportation issues facing Los Angeles County.  In 2007, Mobility 21 became a regional effort to focus on the transportation efforts of Southern California. In addition to Los Angeles County, Mobility 21 is comprised of stakeholders from Ventura, Orange, San Bernardino and Riverside Counties to engage in a conversation about regional transportation priorities for our 17 million residents," according to the event's sponsors.

Applied LNG Technologies to exhibit at California Transit Association 42^nd Annual Fall Conference & EXPO, November 12-14, 2007 at the Anaheim Convention Center in Anaheim, CA

The report is available online in the Environmental Health Perspectives journal at http://ehp.niehs.nih.gov.

The study was conducted in collaboration with researchers at the German Research Center for Environment and Health.

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NEW YORK (May 2) -- California´s major metropolitan areas are the smoggiest cities in the United States, according to an American Lung Association report.
For the fourth consecutive year, the Los Angeles, Fresno, Bakersfield and Visalia-Tulare-Porterville metropolitan areas top the list, followed by the Houston-Galveston area.

Nearly half of the nation´s population -- more than 137 million people -- live in areas with unhealthy amounts of ozone, which is the main ingredient in smog.

"We see a tiny dip in the number of Americans directly affected by ozone, but at these huge numbers, it´s insignificant," said John Kirkwood, the American Lung Association´s president and CEO.

Ninety-three counties´ ratings improved by at least one grade since last year´s report, while 26 counties received lower grades this year, based on air quality data collected by the Environmental Protection Agency.

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WASHINGTON (May 20) -- The Environmental Protection Agency has settled a lawsuit filed by environmental and health groups by promising to re-examine national air quality standards for soot and smog.
The American Lung Association, the Clean Air Task Force, Earthjustice and Environmental Defense said May 19 that they reached an agreement with the EPA that establishes a schedule for reviewing national standards for particulate and ozone limits in light of recent scientific evidence.

The standards were set in 1997, and the Clean Air Act requires the EPA to review them every five years, according to the groups. However, the EPA has not yet done so.

"It is crucial that we continue to update public health safeguards according to the latest medical research about the dangers of these pollutants," said Howard Fox of Earthjustice.

Particulate matter has been linked to heart and lung ailments and premature deaths.

The settlement, filed in the U.S. District Court in Washington, obligates the EPA to publish updated standards for particulate matter by Dec. 20, 2005. The agency must publish updated ozone standards by Dec. 20, 2006.

The agreement will not delay the EPA´s ongoing plans to adopt the eight-hour ozone standard, Fox said. On May 14, the EPA published guidelines to help states begin developing strategies to comply with the ozone standard that was established in 1997. That standard was not immediately adopted because of legal challenges that had to be resolved.

EPA officials could not be reached for comment.

original story