Brooge Energy Ltd. announced the undertaking of a strategic revenue enhancing initiative at its Phase I storage facility location in order to capture the better pricing opportunity afforded by adding storage capability of gasoline and other clean products such as bio-diesel and bio-fuel. The Company expects to upgrade four storage tanks in total, two of which are already undergoing retro-fitting. Upon completion of the upgrade of the first two, which primarily consists of adding an internal floating roof, both will be re-opened to accept gasoline and clean products.

The second two tanks will then undergo the same process for approximately 90 days. The Company has already received strong demand for storage of the higher priced gasoline and clean products. With letters of intent (LOIs) already in place, the Company will be well positioned to meet storage demand for this more attractive product after the upgrades are complete.