TransMontaigne Inc. Provides Update on the Rio Vista Energy Partners L.P. and Penn Octane Corporation Transaction

Business Wire, Nov 7, 2005

DENVER -- TransMontaigne Inc. (NYSE: TMG) today announced that it continues to perform due diligence procedures on the previously announced transaction with Rio Vista Energy Partners L.P. and Penn Octane Corporation. Currently, it is anticipated that this transaction will not close before November 30, 2005.

TransMontaigne Inc. is a refined petroleum products marketing and distribution company based in Denver, Colorado with operations in the United States, primarily in the Gulf Coast, Midwest and East Coast regions. The Company's principal activities consist of (i) terminal, pipeline, and tug and barge operations, (ii) marketing and distribution, and (iii) supply chain management services. The Company's customers include refiners, wholesalers, distributors, marketers, and industrial and commercial end-users of refined petroleum products. Corporate news and additional information about TransMontaigne Inc. is available on the Company's Web site: www.transmontaigne.com.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.