UNITEDTable STATESof Contents

~~SECURITIES~~UNITED ~~AND~~STATES ~~EXCHANGE COMMISSION~~

~~Washington,~~SECURITIES ~~D.C.~~AND ~~20549~~ EXCHANGE COMMISSION

~~FORM~~Washington, ~~10-Q~~D.C. 20549

~~(Mark~~FORM ~~One)~~10-Q

~~x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15~~(dMark One) ~~OF THE SECURITIES EXCHANGE ACT OF 1934~~

~~For~~x ~~the~~QUARTERLY ~~quarterly~~REPORT ~~period~~PURSUANT ~~ended~~TO ~~November 30,~~SECTION ~~2014~~13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

orFor the quarterly period ended February 28, 2015

¨or ~~TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934~~

~~For~~¨ ~~the~~TRANSITION ~~transition~~REPORT ~~period~~PURSUANT ~~from to~~ TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

~~Commission~~For ~~File~~the ~~No.~~transition ~~001-06198~~period from to

~~UNITED~~Commission ~~REFINING~~File ~~COMPANY~~No. ~~(Exact~~001-06198 ~~name of registrant as specified in its charter)~~

Pennsylvania		25-1411751
(State or other jurisdiction of incorporation or organization)		(I.R.S. EmployerIdentification No.)
15 Bradley Street
Warren, Pennsylvania		16365
(Address of principal executive office)		(Zip Code)

UNITED REFINING COMPANY

(Exact name of registrant as specified in its charter)

814-723-1500


Pennsylvania		25-1411751
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

15 Bradley Street
Warren, Pennsylvania		16365
(Address of principal executive office)		(Zip Code)

~~(Registrant’s~~814-723-1500 ~~telephone number, including area code)~~

~~Indicate by check mark whether the registrant~~ (~~1) has~~Registrant’s ~~filed~~telephone ~~all~~number, ~~reports~~including ~~required~~area ~~to be filed by Section 13 or 15(d~~code) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant (1) has ~~submitted~~filed ~~electronically~~all ~~and~~reports ~~posted on its corporate Web site, if any, every Interactive Data File~~ required to be ~~submitted~~filed ~~and~~by ~~posted~~Section 13 ~~pursuant~~or 15(d) ~~to Rule 405~~ of ~~Regulation~~the ~~S-T~~Securities ~~(§232.405~~Exchange Act of ~~this~~1934 ~~chapter)~~ during the preceding 12 months (or for such shorter period that the registrant was required to ~~submit~~file such reports), and ~~post~~ (2) has been subject to such ~~files)~~filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant ishas asubmitted ~~large~~electronically ~~accelerated~~and ~~filer,~~posted anon ~~accelerated~~its ~~filer~~corporate Web site, aif ~~non-accelerated filer~~any, every orInteractive aData ~~smaller~~File ~~reporting~~required ~~company.~~to ~~See~~be ~~definition~~submitted and posted pursuant to Rule 405 of ~~“accelerated~~Regulation ~~filer”~~S-T ~~“large~~(§232.405 ~~accelerated~~of ~~filer”~~this ~~and~~chapter) ~~“smaller~~during ~~reporting~~the ~~company”~~preceding in12 ~~Rule~~months ~~12b-2~~(or offor such shorter period that the ~~Exchange~~registrant ~~Act~~was required to submit and post such files). Yes x No ¨

~~Large~~Indicate ~~accelerated~~by ~~filer~~check ¨mark ~~Accelerated~~whether ~~filer~~the ¨registrant ~~Non-~~is a large accelerated filer, xan ~~(Do~~accelerated ~~not~~filer, ~~check~~a ifnon-accelerated filer, or a smaller reporting company). ~~Smaller~~See definition of “accelerated filer” “large accelerated filer” and “smaller reporting company” ¨in Rule 12b-2 of the Exchange Act.

~~Indicate~~Large byaccelerated ~~check~~filer ~~mark~~¨ ~~whether~~Accelerated ~~the~~filer ~~registrant~~¨ isNon-accelerated afiler ~~shell~~x ~~company~~ (asDo ~~defined~~not incheck ~~Rule 12b-2~~if ofa ~~the~~smaller ~~Exchange~~reporting ~~Act~~company)~~. Yes ¨ No x~~ Smaller reporting company ¨

AsIndicate ofby ~~January 14,~~check ~~2015,~~mark ~~there~~whether ~~were~~the ~~100~~registrant ~~shares~~is ofa ~~common~~shell ~~stock,~~company ~~par~~(as ~~value~~defined ~~$.10~~in ~~per~~Rule 12b-2 ~~share,~~ of the ~~Registrant outstanding~~Exchange Act). Yes ¨ No x

~~TABLE~~As OFof ~~ADDITIONAL~~April 14, ~~REGISTRANTS~~2015, there were 100 shares of common stock, par value $.10 per share, of the Registrant outstanding.

Name	State of OtherJurisdiction ofIncorporation	IRS EmployerIdentificationNumber		CommissionFile Number
Kiantone Pipeline Corporation	New York		25-1211902		333-35083-01
Kiantone Pipeline Company	Pennsylvania		25-1416278		333-35083-03
United Refining Company of Pennsylvania	Pennsylvania		25-0850960		333-35083-02
United Jet Center, Inc.	Delaware		52-1623169		333-35083-06
Kwik-Fill Corporation	Pennsylvania		25-1525543		333-35083-05
Independent Gas and Oil Company of Rochester, Inc.	New York		06-1217388		333-35083-11
Bell Oil Corp.	Michigan		38-1884781		333-35083-07
PPC, Inc.	Ohio		31-0821706		333-35083-08
Super Test Petroleum, Inc.	Michigan		38-1901439		333-35083-09
Kwik-Fil, Inc.	New York		25-1525615		333-35083-04
Vulcan Asphalt Refining Corporation	Delaware		23-2486891		333-35083-10
Country Fair, Inc.	Pennsylvania		25-1149799		333-35083-12

2TABLE OF ADDITIONAL REGISTRANTS

FORM 10-Q – CONTENTS


Name	State of Other Jurisdiction of Incorporation	IRS Employer Identification Number		Commission File Number
Kiantone Pipeline Corporation	New York		25-1211902		333-35083-01
Kiantone Pipeline Company	Pennsylvania		25-1416278		333-35083-03
United Refining Company of Pennsylvania	Pennsylvania		25-0850960		333-35083-02
United Jet Center, Inc.	Delaware		52-1623169		333-35083-06
Kwik-Fill Corporation	Pennsylvania		25-1525543		333-35083-05
Independent Gas and Oil Company of Rochester, Inc.	New York		06-1217388		333-35083-11
Bell Oil Corp.	Michigan		38-1884781		333-35083-07
PPC, Inc.	Ohio		31-0821706		333-35083-08
Super Test Petroleum, Inc.	Michigan		38-1901439		333-35083-09
Kwik-Fil, Inc.	New York		25-1525615		333-35083-04
Vulcan Asphalt Refining Corporation	Delaware		23-2486891		333-35083-10
Country Fair, Inc.	Pennsylvania		25-1149799		333-35083-12

		PAGE
PART I. FINANCIAL INFORMATION			4
Item 1.	Financial Statements.		4
	Consolidated Balance Sheets – November 30, 2014 (unaudited) and August 31, 2014		4
	Consolidated Statements of Income – Three Months Ended November 30, 2014 and 2013 (unaudited)		5
	Consolidated Statements of Comprehensive Income (Loss) – Three Months Ended November 30, 2014 and 2013 (unaudited)		6
	Consolidated Statements of Cash Flows – Three Months Ended November 30, 2014 and 2013 (unaudited)		7
	Notes to Consolidated Financial Statements (unaudited)		8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.		14
Item 3.	Quantitative and Qualitative Disclosures about Market Risk.		20
Item 4.	Controls and Procedures.		21
PART II. OTHER INFORMATION			22
Item 1.	Legal Proceedings.		22
Item 1A.	Risk Factors.		22
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.		22
Item 3.	Defaults Upon Senior Securities.		22
Item 4.	Mine Safety Disclosures.		22
Item 5.	Other Information.		22
Item 6.	Exhibits.		22
Signatures.			23

3Table of Contents

~~PART I.~~FORM ~~FINANCIAL~~10-Q ~~INFORMATION~~– CONTENTS

Item 1. Financial Statements.


		PAGE
PART I . FINANCIAL INFORMATION			4

Item 1.	Financial Statements.		4

	Consolidated Balance Sheets – February 28, 2015 (unaudited) and August 31, 2014		4

	Consolidated Statements of Income – Quarter and Six Months Ended February 28, 2015 and 2014 (unaudited)		5

	Consolidated Statements of Comprehensive Income – Quarter and Six Months Ended February 28, 2015 and 2014 (unaudited)		6

	Consolidated Statements of Cash Flows – Six Months Ended February 28, 2015 and 2014 (unaudited)		7

	Notes to Consolidated Financial Statements (unaudited)		8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.		14

Item 3.	Quantitative and Qualitative Disclosures about Market Risk.		22

Item 4.	Controls and Procedures.		22

Item 5.	Other Information.		22

PART II. OTHER INFORMATION			23

Item 1.	Legal Proceedings.		23

Item 1A.	Risk Factors.		23

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.		23

Item 3.	Defaults Upon Senior Securities.		23

Item 4.	Mine Safety Disclosures.		23

Item 5.	Other Information.		23

Item 6.	Exhibits.		23

Signatures.			24

~~UNITED~~3 ~~REFINING COMPANY AND SUBSIDIARIES~~

ConsolidatedTable Balanceof Sheets Contents

~~(in~~PART I. ~~thousands,~~FINANCIAL ~~except~~INFORMATION ~~share amounts)~~

	November 30,2014(Unaudited)			August 31,2014
Assets
Current:
Cash and cash equivalents	$	67,671		$	99,037
Accounts receivable, net		93,377			92,391
Refundable income taxes		6,000			6,000
Inventories, net		189,463			151,472
Prepaid income taxes		14,107			13,674
Prepaid expenses and other assets		47,802			67,168
Total current assets		418,420			429,742
Property, plant and equipment, net		323,038			317,519
Deferred financing costs, net		3,268			3,575
Goodwill		1,349			1,349
Tradename		10,500			10,500
Amortizable intangible assets, net		857			951
Deferred integrity and replacement costs, net		63,346			64,916
Deferred turnaround costs and other assets, net		39,898			41,912
	$	860,676		$	870,464
Liabilities and Stockholder’s Equity
Current:
Current installments of long-term debt	$	1,555		$	1,551
Accounts payable		53,079			91,881
Accrued liabilities		24,275			18,691
Sales, use and fuel taxes payable		19,026			20,550
Deferred income taxes		2,810			2,810
Amounts due to affiliated companies, net		1,068			1,521
Total current liabilities		101,813			137,004
Long term debt: less current installments		238,140			237,974
Deferred income taxes		55,639			44,140
Deferred retirement benefits		65,732			67,121
Total liabilities		461,324			486,239
Commitments and contingencies
Stockholder’s equity:
Common stock; $.10 par value per share – shares authorized 100; issued and outstanding 100		—			—
Series A Preferred stock; $1,000 par value per share – shares authorized 25,000; issued and outstanding 14,116		14,116			14,116
Additional paid-in capital		156,810			156,810
Retained earnings		237,992			222,495
Accumulated other comprehensive loss		(9,566	)		(9,196	)
Total stockholder’s equity		399,352			384,225
	$	860,676		$	870,464

Item 1.

Financial Statements.

~~See~~UNITED ~~accompanying~~REFINING ~~notes~~COMPANY toAND ~~consolidated~~SUBSIDIARIES ~~financial statements.~~

4Consolidated Balance Sheets

~~UNITED~~(in ~~REFINING~~thousands, ~~COMPANY~~except ~~AND~~share ~~SUBSIDIARIES~~amounts)

Consolidated Statements of Income – (Unaudited)


	February 28, 2015 (Unaudited)			August 31, 2014
Assets
Current:
Cash and cash equivalents	$	59,997		$	99,037
Accounts receivable, net		72,358			92,391
Refundable income taxes		—			6,000
Inventories, net		198,779			151,472
Prepaid income taxes		23,820			13,674
Prepaid expenses and other assets		29,021			67,168
Amounts due from affiliated companies, net		143			—

Total current assets		384,118			429,742
Property, plant and equipment, net		326,697			317,519
Deferred financing costs, net		2,961			3,575
Goodwill		1,349			1,349
Tradename		10,500			10,500
Amortizable intangible assets, net		831			951
Deferred integrity and replacement costs, net		61,775			64,916
Deferred turnaround costs and other assets, net		37,123			41,912

	$	825,354		$	870,464

Liabilities and Stockholder’s Equity
Current:
Current installments of long-term debt	$	1,540		$	1,551
Accounts payable		37,873			91,881
Accrued liabilities		14,471			18,691
Sales, use and fuel taxes payable		16,516			20,550
Deferred income taxes		2,810			2,810
Amounts due to affiliated companies, net		—			1,521

Total current liabilities		73,210			137,004
Long term debt: less current installments		238,071			237,974
Deferred income taxes		65,682			44,140
Deferred retirement benefits		64,380			67,121

Total liabilities		441,343			486,239

Commitments and contingencies
Stockholder’s equity:
Common stock; $.10 par value per share – shares authorized 100; issued and outstanding 100		—			—
Series A Preferred stock; $1,000 par value per share – shares authorized 25,000; issued and outstanding 14,116		14,116			14,116
Additional paid-in capital		156,810			156,810
Retained earnings		223,021			222,495
Accumulated other comprehensive loss		(9,936	)		(9,196	)

Total stockholder’s equity		384,011			384,225

	$	825,354		$	870,464

~~(in~~See ~~thousands)~~accompanying notes to consolidated financial statements.

	Three Months EndedNovember 30,
	2014			2013
Net sales	$	824,697		$	891,715
Costs and expenses:
Costs of goods sold (exclusive of depreciation and amortization)		737,168			838,165
Selling, general and administrative expenses		41,038			41,146
Depreciation and amortization expenses		10,352			6,990
		788,558			886,301
Operating income		36,139			5,414
Other expense:
Interest expense, net		(6,658	)		(6,534	)
Other, net		(608	)		(664	)
		(7,266	)		(7,198	)
Income (loss) before income tax expense (benefit)		28,873			(1,784	)
Income tax expense (benefit)		11,259			(697	)
Net income (loss)	$	17,614		$	(1,087	)

SeeTable accompanyingof notes to consolidated financial statements. Contents

5UNITED REFINING COMPANY AND SUBSIDIARIES

~~UNITED~~Consolidated ~~REFINING~~Statements ~~COMPANY~~of ~~AND~~Income ~~SUBSIDIARIES~~– (Unaudited)

~~Consolidated Statements of Comprehensive Income~~ (~~Loss)~~in ~~– (Unaudited~~thousands)

(in thousands)


	Three Months Ended February 28,						Six Months Ended February 28,
	2015			2014			2015			2014
Net sales	$	580,904		$	773,719		$	1,405,601		$	1,665,434

Costs and expenses:
Costs of goods sold (exclusive of depreciation and amortization)		518,629			622,961			1,255,797			1,461,126
Selling, general and administrative expenses		40,958			41,781			81,996			82,927
Depreciation and amortization expenses		10,525			7,140			20,877			14,130

		570,112			671,882			1,358,670			1,558,183

Operating income		10,792			101,837			46,931			107,251

Other expense:
Interest expense, net		(6,632	)		(6,569	)		(13,290	)		(13,103	)
Other, net		(1,549	)		(733	)		(2,157	)		(1,397	)

		(8,181	)		(7,302	)		(15,447	)		(14,500	)

Income before income tax expense		2,611			94,535			31,484			92,751
Income tax expense		1,008			36,865			12,267			36,168

Net income	$	1,603		$	57,670		$	19,217		$	56,583

	Three Months EndedNovember 30,
	2014			2013
Net income (loss)	$	17,614		$	(1,087	)
Other comprehensive loss, net of taxes:
Unrecognized post retirement costs, net of taxes of $(237) and $(119) for the three months ended November 30, 2014 and 2013, respectively		(370	)		(172	)
Other comprehensive loss		(370	)		(172	)
Total comprehensive income (loss)	$	17,244		$	(1,259	)

See accompanying notes to consolidated financial statements.

~~See~~5 ~~accompanying notes to consolidated financial statements.~~

6Table of Contents

UNITED REFINING COMPANY AND SUBSIDIARIES

Consolidated Statements of ~~Cash~~Comprehensive ~~Flows~~Income – (Unaudited)

(in thousands)

	Three Months EndedNovember 30,
	Three Months EndedFebruary 28,						Six Months EndedFebruary 28,
	2014			2013
	2015			2014			2015			2014
Cash flows from operating activities:
Net income	$	1,603		$	57,670		$	19,217		$	56,583
Net income (loss)	$	17,614		$	(1,087	)
Other comprehensive loss, net of taxes:
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Unrecognized post retirement loss, net of taxes of $(237) and $(120) for the three months ended February 28, 2015 and 2014, respectively and $(474) and $(239) for the six months ended February 28, 2015 and 2014, respectively		(370	)		(171	)		(740	)		(343	)
Depreciation and amortization		10,958			7,564
Other comprehensive loss		(370	)		(171	)		(740	)		(343	)
Deferred income taxes		11,736			(215	)
Total comprehensive income	$	1,233		$	57,499		$	18,477		$	56,240
Loss on asset dispositions		500			5
Cash used in working capital items		(26,609	)		(27,563	)
Change in operating assets and liabilities:
Other assets, net		236			169
Deferred retirement benefits		(1,996	)		(2,579	)
Total adjustments		(5,175	)		(22,619	)
Net cash provided by (used in) operating activities		12,439			(23,706	)
Cash flows from investing activities:
Additions to property, plant and equipment		(10,924	)		(11,114	)
Additions to deferred turnaround costs		(1,723	)		(511	)
Additions to deferred integrity and replacement costs		(28,630	)		—
Proceeds from asset dispositions		3			38
Net cash used in investing activities		(41,274	)		(11,587	)
Cash flows from financing activities:
Dividends to preferred shareholder and common stockholder		(2,117	)		(2,234	)
Proceeds from issuance of long-term debt		—			1,426
Principal reductions of long-term debt		(414	)		(454	)
Distribution to parent under the tax sharing agreement		—			(2,593	)
Net cash used in financing activities		(2,531	)		(3,855	)
Net decrease in cash and cash equivalents		(31,366	)		(39,148	)
Cash and cash equivalents, beginning of year		99,037			158,537
Cash and cash equivalents, end of period	$	67,671		$	119,389
Cash provided by (used in) working capital items:
Accounts receivable, net	$	(986	)	$	22,164
Inventories, net		(37,991	)		(54,066	)
Prepaid income taxes		(433	)		—
Prepaid expenses and other assets		19,366			332
Amounts due to (from) affiliated companies, net		(453	)		(929	)
Accounts payable		(10,172	)		3,580
Accrued liabilities		5,584			5,520
Income taxes payable		—			(1,937	)
Sales, use, and fuel taxes payable		(1,524	)		(2,227	)
Total change	$	(26,609	)	$	(27,563	)
Cash paid during the period for:
Interest	$	163		$	156
Income taxes	$	30		$	1,455
Non-cash investing activities:
Property additions & capital leases	$	285		$	241

See accompanying notes to consolidated financial statements.

UNITEDTable REFININGof COMPANY AND SUBSIDIARIES Contents

~~Notes~~UNITED toREFINING ~~Consolidated~~COMPANY ~~Financial~~AND ~~Statements~~SUBSIDIARIES

Consolidated Statements of Cash Flows – (Unaudited)

1.(in ~~Description~~thousands) ~~of Business and Basis of Presentation~~

The consolidated financial statements include the accounts of United Refining Company and its subsidiaries, United Refining Company of Pennsylvania and its subsidiaries, United Biofuels, Inc. and Kiantone Pipeline Corporation (collectively, the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation.


	Six Months Ended February 28,
	2015			2014
Cash flows from operating activities:
Net income	$	19,217		$	56,583
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		22,096			15,286
Deferred income taxes		22,016			1,786
Loss on asset dispositions		766			13
Cash used in working capital items		(28,569	)		(26,103	)
Change in operating assets and liabilities:
Other assets, net		137			338
Deferred retirement benefits		(3,955	)		(3,702	)

Total adjustments		12,491			(12,382	)

Net cash provided by operating activities		31,708			44,201

Cash flows from investing activities:
Additions to property, plant and equipment		(20,069	)		(20,353	)
Additions to deferred turnaround costs		(2,558	)		(3,124	)
Additions to deferred integrity and replacement costs		(28,630	)		—
Proceeds from asset dispositions		4			56

Net cash used in investing activities		(51,253	)		(23,421	)

Cash flows from financing activities:
Dividends to preferred shareholder and common stockholder		(18,691	)		(4,810	)
Proceeds from issuance of long-term debt		—			1,426
Principal reductions of long-term debt		(804	)		(1,000	)
Distribution to parent under the tax sharing agreement		—			(2,593	)

Net cash used in financing activities		(19,495	)		(6,977	)

Net (decrease) increase in cash and cash equivalents		(39,040	)		13,803
Cash and cash equivalents, beginning of year		99,037			158,537

Cash and cash equivalents, end of period	$	59,997		$	172,340

Cash provided by (used in) working capital items:
Accounts receivable, net	$	20,033		$	27,157
Refundable income taxes		6,000			20,890
Inventories, net		(47,307	)		(94,602	)
Prepaid income taxes		(10,146	)		—
Prepaid expenses and other assets		38,147			11,312
Amounts due from/to affiliated companies, net		(1,664	)		(353	)
Accounts payable		(25,378	)		(2,802	)
Accrued liabilities		(4,220	)		(3,427	)
Income taxes payable		—			16,317
Sales, use, and fuel taxes payable		(4,034	)		(595	)

Total change	$	(28,569	)	$	(26,103	)

Cash paid during the period for:
Interest	$	12,758		$	12,755
Income taxes	$	339		$	16,151

Non-cash investing activities:
Property additions & capital leases	$	285		$	241

~~The~~See ~~Company~~accompanying isnotes ato ~~petroleum~~consolidated ~~refiner~~financial ~~and marketer in its primary market area of Western New York and Northwestern Pennsylvania~~statements. ~~Operations are organized into two business segments: wholesale and retail.~~

~~The~~7 wholesale segment is responsible for the acquisition of crude oil, petroleum refining, supplying petroleum products to the retail segment and the marketing of petroleum products to wholesale and industrial customers. The retail segment operates a network of Company operated retail units under the Red Apple Food Mart® and Country Fair® brand names selling petroleum products under the Kwik Fill®, Citgo® and Keystone® brand names, as well as convenience and grocery items.

TheTable Company is a wholly-owned subsidiary of United Refining, Inc., a wholly-owned subsidiary of United Acquisition Corp., which in turn is a wholly-owned subsidiary of Red Apple Group, Inc. (the “Parent”). Contents

~~The accompanying~~UNITED ~~unaudited~~REFINING ~~consolidated~~COMPANY ~~financial~~AND ~~statements~~SUBSIDIARIES have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended November 30, 2014 are not necessarily indicative of the results that may be expected for the year ending August 31, 2015. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Form 10-K for the fiscal year ended August 31, 2014.

2.Notes ~~Inventories~~to Consolidated Financial Statements

~~Inventories are stated at the lower of cost or market, with cost being determined under the Last-in, First-out~~ (~~LIFO~~Unaudited) method for crude oil and petroleum product inventories and the First-in, First-out (FIFO) method for merchandise. Supply inventories are stated at either the lower of cost or market or replacement cost and include various parts for the refinery operations.

~~Inventories~~1. ~~consist~~Description of ~~the~~Business ~~following:~~and Basis of Presentation

	November 30,2014		August 31,2014
	(in thousands)
Crude Oil	$	53,371	$	36,667
Petroleum Products		83,650		63,252
Total @ LIFO		137,021		99,919
Merchandise		24,928		23,983
Supplies		27,514		27,570
Total @ FIFO		52,442		51,553
Total Inventory	$	189,463	$	151,472

8The Company is a petroleum refiner and marketer in its primary market area of Western New York and Northwestern Pennsylvania. Operations are organized into two business segments: wholesale and retail.

~~UNITED~~The ~~REFINING~~wholesale ~~COMPANY~~segment ~~AND~~is ~~SUBSIDIARIES~~responsible for the acquisition of crude oil, petroleum refining, supplying petroleum products to the retail segment and the marketing of petroleum products to wholesale and industrial customers. The retail segment operates a network of Company operated retail units under the Red Apple Food Mart® and Country Fair® brand names selling petroleum products under the Kwik Fill®, Citgo® and Keystone® brand names, as well as convenience and grocery items.

~~Notes~~The toCompany ~~Consolidated~~is ~~Financial~~a ~~Statements~~wholly-owned subsidiary of United Refining, Inc., a wholly-owned subsidiary of United Acquisition Corp., which in turn is a wholly-owned subsidiary of Red Apple Group, Inc. (the “Parent”).

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (~~Unaudited~~consisting of only normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended February 28, 2015 are not necessarily indicative of the results that may be expected for the year ending August 31, 2015. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Form 10-K for the fiscal year ended August 31, 2014.

~~As of November 30, 2014 and August 31, 2014, the replacement cost of LIFO inventories exceeded their LIFO carrying values by approximately $77,917,000 and $109,711,000, respectively~~2. Inventories

3Inventories are stated at the lower of cost or market, with cost being determined under the Last-in, First-out (LIFO) method for crude oil and petroleum product inventories and the First-in, First-out (FIFO) method for merchandise. ~~Segments~~Supply inventories are stated at either the lower of ~~Business~~cost or market or replacement cost and include various parts for the refinery operations.

~~Intersegment~~Inventories ~~revenues~~consist ~~are~~of ~~calculated using market prices and are eliminated upon consolidation. Summarized financial information regarding~~ the ~~Company’s reportable segments is presented in the~~ following ~~tables (in thousands)~~:

	Three Months EndedNovember 30,
	February 28,2015		August 31,2014
	2014		2013
	(in thousands)
Net Sales
Crude Oil	$	41,199	$	36,667
Retail	$	379,156	$	413,728
Petroleum Products		104,357		63,252
Wholesale		445,541		477,987
Total @ LIFO		145,556		99,919
	$	824,697	$	891,715
Merchandise		24,221		23,983
Intersegment Sales
Supplies		29,002		27,570
Wholesale	$	180,256	$	213,701
Total @ FIFO		53,223		51,553
Operating Income
Total Inventory	$	198,779	$	151,472
Retail	$	9,759	$	1,385
Wholesale		26,380		4,029
	$	36,139	$	5,414
Depreciation and Amortization
Retail	$	1,763	$	1,561
Wholesale		8,589		5,429
	$	10,352	$	6,990

	November 30,2014		August 31,2014
Total Assets
Retail	$	180,754	$	186,277
Wholesale		679,922		684,187
	$	860,676	$	870,464

9Table of Contents

UNITED REFINING COMPANY AND SUBSIDIARIES

Notes to Consolidated Financial Statements

(Unaudited)

4As of February 28, 2015 and August 31, 2014, the replacement cost of LIFO inventories exceeded their LIFO carrying values by approximately $7,308,000 and $109,711,000, respectively. ~~Subsidiary~~In ~~Guarantors~~accordance with ASC 270, Interim Reporting, and ASC 330, Inventory, as of February 28, 2015 the Company has not recorded any reserve against its LIFO carrying values (which amounted to $8,629,000) as the current decline in market values is reasonably expected to be temporary and be restored in the current fiscal year.

~~All of the Company’s wholly-owned subsidiaries fully and unconditionally guarantee on an unsecured basis, on a joint and several basis, the Company’s 10~~3.~~50%~~ ~~Senior~~Segments ~~Secured Notes due 2018. There are no restrictions within the consolidated group on the ability~~ of the Company or any of its subsidiaries to obtain loans from or pay dividends to other members of the consolidated group. Financial information of the Company’s wholly-owned subsidiary guarantors is as follows: Business

~~Condensed~~Intersegment ~~Consolidating~~revenues ~~Balance~~are ~~Sheets~~calculated using market prices and are eliminated upon consolidation. Summarized financial information regarding the Company’s reportable segments is presented in the following tables (in thousands):

(in thousands)


	Three Months Ended February 28,					Six Months Ended February 28,
	2015		2014			2015		2014
Net Sales
Retail	$	298,666	$	392,756		$	677,822	$	806,484
Wholesale		282,238		380,963			727,779		858,950

	$	580,904	$	773,719		$	1,405,601	$	1,665,434

Intersegment Sales
Wholesale	$	116,350	$	203,890		$	296,606	$	417,591

Operating Income (Loss)
Retail	$	8,040	$	(5,915	)	$	17,799	$	(4,530	)
Wholesale		2,752		107,752			29,132		111,781

	$	10,792	$	101,837		$	46,931	$	107,251

Depreciation and Amortization
Retail	$	1,793	$	1,578		$	3,556	$	3,139
Wholesale		8,732		5,562			17,321		10,991

	$	10,525	$	7,140		$	20,877	$	14,130

	November 30, 2014												August 31, 2014
	February 28, 2015			August 31, 2014
	UnitedRefiningCompany			Guarantors			Eliminations			UnitedRefiningCompany &Subsidiaries			UnitedRefiningCompany			Guarantors			Eliminations			UnitedRefiningCompany &Subsidiaries
Total Assets	$	163,957		$	186,277
Assets
Retail		661,397			684,187
Current:
Wholesale	$	825,354		$	870,464
Cash and cash equivalents	$	50,107		$	17,564		$	—		$	67,671		$	79,356		$	19,681		$	—		$	99,037
Accounts receivable, net		57,771			35,606			—			93,377			51,452			40,939			—			92,391
Refundable income taxes		6,000			—			—			6,000			6,000			—			—			6,000
Inventories, net		159,279			30,184			—			189,463			122,161			29,311			—			151,472
Prepaid income taxes		17,697			(3,590	)		—			14,107			16,918			(3,244	)		—			13,674
Prepaid expenses and other assets		43,630			4,172			—			47,802			62,889			4,279			—			67,168
Intercompany		121,106			(422	)		(120,684	)		—			127,105			1,116			(128,221	)		—
Total current assets		455,590			83,514			(120,684	)		418,420			465,881			92,082			(128,221	)		429,742
Property, plant and equipment, net		203,565			119,473			—			323,038			199,703			117,816			—			317,519
Deferred financing costs, net		3,268			—			—			3,268			3,575			—			—			3,575
Goodwill and other non-amortizable assets		—			11,849			—			11,849			—			11,849			—			11,849
Amortizable intangible assets, net		—			857			—			857			—			951			—			951
Deferred integrity and replacement costs, net		63,346			—			—			63,346			64,916			—			—			64,916
Deferred turnaround costs & other assets		36,233			3,665			—			39,898			39,302			2,610			—			41,912
Investment in subsidiaries		41,351			—			(41,351	)		—			35,811			—			(35,811	)		—
	$	803,353		$	219,358		$	(162,035	)	$	860,676		$	809,188		$	225,308		$	(164,032	)	$	870,464
Liabilities and Stockholder’s Equity
Current:
Current installments of long-term debt	$	540		$	1,015		$	—		$	1,555		$	519		$	1,032		$	—		$	1,551
Accounts payable		29,818			23,261			—			53,079			64,965			26,916			—			91,881
Accrued liabilities		16,968			7,307			—			24,275			12,315			6,376			—			18,691
Sales, use and fuel taxes payable		15,175			3,851			—			19,026			16,037			4,513			—			20,550
Deferred income taxes		3,770			(960	)		—			2,810			3,770			(960	)		—			2,810
Amounts due to affiliated companies, net		—			1,068			—			1,068			—			1,521			—			1,521
Intercompany		—			120,684			(120,684	)		—			—			128,221			(128,221	)		—
Total current liabilities		66,271			156,226			(120,684	)		101,813			97,606			167,619			(128,221	)		137,004
Long term debt: less current installments		233,358			4,782			—			238,140			232,946			5,028			—			237,974
Deferred income taxes		40,085			15,554			—			55,639			28,816			15,324			—			44,140
Deferred retirement benefits		64,287			1,445			—			65,732			65,595			1,526			—			67,121
Total liabilities		404,001			178,007			(120,684	)		461,324			424,963			189,497			(128,221	)		486,239
Commitment and contingencies
Stockholder’s equity
Common stock; $.10 par value per share – shares authorized 100; issued and outstanding 100		—			18			(18	)		—			—			18			(18	)		—
Series A Preferred stock; $1,000 par value share – shares authorized 25,000; issued and outstanding 14,116		14,116			—			—			14,116			14,116			—			—			14,116
Additional paid-in capital		156,810			16,626			(16,626	)		156,810			156,810			16,626			(16,626	)		156,810
Retained earnings		237,992			25,666			(25,666	)		237,992			222,495			20,143			(20,143	)		222,495
Accumulated other comprehensive loss		(9,566	)		(959	)		959			(9,566	)		(9,196	)		(976	)		976			(9,196	)
Total stockholder’s equity		399,352			41,351			(41,351	)		399,352			384,225			35,811			(35,811	)		384,225
	$	803,353		$	219,358		$	(162,035	)	$	860,676		$	809,188		$	225,308		$	(164,032	)	$	870,464

109

UNITEDTable REFININGof COMPANY AND SUBSIDIARIES Contents

~~Notes~~UNITED toREFINING ~~Consolidated~~COMPANY ~~Financial~~AND ~~Statements~~SUBSIDIARIES

~~(Unaudited)~~Notes to Consolidated Financial Statements

~~Condensed~~(Unaudited) ~~Consolidating Statements of Income~~

~~(in~~4. ~~thousands)~~Subsidiary Guarantors

	Three Months Ended November 30, 2014												Three Months Ended November 30, 2013
	UnitedRefiningCompany			Guarantors			Eliminations			UnitedRefiningCompany &Subsidiaries			UnitedRefiningCompany			Guarantors			Eliminations			UnitedRefiningCompany &Subsidiaries
Net sales	$	625,797		$	380,346		$	(181,446	)	$	824,697		$	691,688		$	415,006		$	(214,979	)	$	891,715
Costs and expenses:
Costs of goods sold (exclusive of depreciation and amortization)		583,955			334,659			(181,446	)		737,168			675,725			377,419			(214,979	)		838,165
Selling, general and administrative expenses		6,717			34,321			—			41,038			6,531			34,615			—			41,146
Depreciation and amortization expenses		8,295			2,057			—			10,352			5,173			1,817			—			6,990
		598,967			371,037			(181,446	)		788,558			687,429			413,851			(214,979	)		886,301
Operating income		26,830			9,309			—			36,139			4,259			1,155			—			5,414
Other income (expense):
Interest expense, net		(6,413	)		(245	)		—			(6,658	)		(6,298	)		(236	)		—			(6,534	)
Other, net		(773	)		165			—			(608	)		(848	)		184			—			(664	)
Equity in net income of subsidiaries		5,523			—			(5,523	)		—			666			—			(666	)		—
		(1,663	)		(80	)		(5,523	)		(7,266	)		(6,480	)		(52	)		(666	)		(7,198	)
Income (loss) before income tax expense (benefit)		25,167			9,229			(5,523	)		28,873			(2,221	)		1,103			(666	)		(1,784	)
Income tax expense (benefit)		7,553			3,706			—			11,259			(1,134	)		437			—			(697	)
Net income (loss)	$	17,614		$	5,523		$	(5,523	)	$	17,614		$	(1,087	)	$	666		$	(666	)	$	(1,087	)

All of the Company’s wholly-owned subsidiaries fully and unconditionally guarantee on an unsecured basis, on a joint and several basis, the Company’s 10.50% Senior Secured Notes due 2018. There are no restrictions within the consolidated group on the ability of the Company or any of its subsidiaries to obtain loans from or pay dividends to other members of the consolidated group. Financial information of the Company’s wholly-owned subsidiary guarantors is as follows:

11Condensed Consolidating Balance Sheets

~~UNITED~~(in ~~REFINING~~thousands) ~~COMPANY AND SUBSIDIARIES~~

Notes to Consolidated Financial Statements


	February 28, 2015												August 31, 2014
	United Refining Company			Guarantors			Eliminations			United Refining Company & Subsidiaries			United Refining Company			Guarantors			Eliminations			United Refining Company & Subsidiaries
Assets
Current:
Cash and cash equivalents	$	47,174		$	12,823		$	—		$	59,997		$	79,356		$	19,681		$	—		$	99,037
Accounts receivable, net		46,832			25,526			—			72,358			51,452			40,939			—			92,391
Refundable income taxes		—			—			—			—			6,000			—			—			6,000
Inventories, net		171,007			27,772			—			198,779			122,161			29,311			—			151,472
Prepaid income taxes		28,865			(5,045	)		—			23,820			16,918			(3,244	)		—			13,674
Prepaid expenses and other assets		22,659			6,362			—			29,021			62,889			4,279			—			67,168
Amounts due from affiliated companies, net		—			143			—			143			—			—			—			—
Intercompany		107,494			(3,677	)		(103,817	)		—			127,105			1,116			(128,221	)		—

Total current assets		424,031			63,904			(103,817	)		384,118			465,881			92,082			(128,221	)		429,742
Property, plant and equipment, net		204,973			121,724			—			326,697			199,703			117,816			—			317,519
Deferred financing costs, net		2,961			—			—			2,961			3,575			—			—			3,575
Goodwill and other non-amortizable assets		—			11,849			—			11,849			—			11,849			—			11,849
Amortizable intangible assets, net		—			831			—			831			—			951			—			951
Deferred integrity and replacement costs, net		61,775			—			—			61,775			64,916			—			—			64,916
Deferred turnaround costs & other assets		32,571			4,552			—			37,123			39,302			2,610			—			41,912
Investment in subsidiaries		45,759			—			(45,759	)		—			35,811			—			(35,811	)		—

	$	772,070		$	202,860		$	(149,576	)	$	825,354		$	809,188		$	225,308		$	(164,032	)	$	870,464

Liabilities and Stockholder’s Equity
Current:
Current installments of long-term debt	$	523		$	1,017		$	—		$	1,540		$	519		$	1,032		$	—		$	1,551
Accounts payable		17,728			20,145			—			37,873			64,965			26,916			—			91,881
Accrued liabilities		8,246			6,225			—			14,471			12,315			6,376			—			18,691
Sales, use and fuel taxes payable		12,519			3,997			—			16,516			16,037			4,513			—			20,550
Deferred income taxes		3,770			(960	)		—			2,810			3,770			(960	)		—			2,810
Amounts due to affiliated companies, net		—			—			—			—			—			1,521			—			1,521
Intercompany		—			103,817			(103,817	)		—			—			128,221			(128,221	)		—

Total current liabilities		42,786			134,241			(103,817	)		73,210			97,606			167,619			(128,221	)		137,004
Long term debt: less current installments		233,539			4,532			—			238,071			232,946			5,028			—			237,974
Deferred income taxes		48,767			16,915			—			65,682			28,816			15,324			—			44,140
Deferred retirement benefits		62,967			1,413			—			64,380			65,595			1,526			—			67,121

Total liabilities		388,059			157,101			(103,817	)		441,343			424,963			189,497			(128,221	)		486,239

Commitment and contingencies
Stockholder’s equity
Common stock; $.10 par value per share – shares authorized 100; issued and outstanding 100		—			18			(18	)		—			—			18			(18	)		—
Series A Preferred stock; $1,000 par value per share – shares authorized 25,000; issued and outstanding 14,116		14,116			—			—			14,116			14,116			—			—			14,116
Additional paid-in capital		156,810			16,626			(16,626	)		156,810			156,810			16,626			(16,626	)		156,810
Retained earnings		223,021			30,057			(30,057	)		223,021			222,495			20,143			(20,143	)		222,495
Accumulated other comprehensive loss		(9,936	)		(942	)		942			(9,936	)		(9,196	)		(976	)		976			(9,196	)

Total stockholder’s equity		384,011			45,759			(45,759	)		384,011			384,225			35,811			(35,811	)		384,225

	$	772,070		$	202,860		$	(149,576	)	$	825,354		$	809,188		$	225,308		$	(164,032	)	$	870,464

~~(Unaudited)~~10

CondensedTable Consolidating Statements of Cash Flows Contents

~~(in~~UNITED ~~thousands)~~REFINING COMPANY AND SUBSIDIARIES

	Three Months Ended November 30, 2014											Three Months Ended November 30, 2013
	UnitedRefiningCompany			Guarantors			Eliminations		UnitedRefiningCompanyandSubsidiaries			UnitedRefiningCompany			Guarantors			Eliminations		UnitedRefiningCompanyandSubsidiaries
Net cash provided by (used in) operating activities	$	9,206		$	3,233		$	—	$	12,439		$	(26,209	)	$	2,503		$	—	$	(23,706	)
Cash flows from investing activities:
Additions to property, plant and equipment		(7,004	)		(3,920	)		—		(10,924	)		(6,607	)		(4,507	)		—		(11,114	)
Additions to deferred turnaround costs		(554	)		(1,169	)		—		(1,723	)		(401	)		(110	)		—		(511	)
Additions to deferred integrity and replacement costs		(28,630	)		—			—		(28,630	)		—			—			—		—
Proceeds from asset dispositions		1			2			—		3			38			—			—		38
Net cash used in investing activities		(36,187	)		(5,087	)		—		(41,274	)		(6,970	)		(4,617	)		—		(11,587	)
Cash flows from financing activities:
Dividends to preferred shareholder and common stockholder		(2,117	)		—			—		(2,117	)		(2,234	)		—			—		(2,234	)
Proceeds from issuance of long-term debt		—			—			—		—			—			1,426			—		1,426
Principal reductions of long-term debt		(151	)		(263	)		—		(414	)		(232	)		(222	)		—		(454	)
Distribution to parent under the tax sharing agreement		—			—			—		—			(2,593	)		—			—		(2,593	)
Net cash (used in) provided by financing activities		(2,268	)		(263	)		—		(2,531	)		(5,059	)		1,204			—		(3,855	)
Net decrease in cash and cash equivalents		(29,249	)		(2,117	)		—		(31,366	)		(38,238	)		(910	)		—		(39,148	)
Cash and cash equivalents, beginning of year		79,356			19,681			—		99,037			141,386			17,151			—		158,537
Cash and cash equivalents, end of period	$	50,107		$	17,564		$	—	$	67,671		$	103,148		$	16,241		$	—	$	119,389

Notes to Consolidated Financial Statements

12(Unaudited)

~~UNITED~~Condensed ~~REFINING~~Consolidating ~~COMPANY~~Statements ~~AND~~of ~~SUBSIDIARIES~~Income

~~Notes~~(in tothousands) ~~Consolidated Financial Statements~~

(Unaudited)


	Three Months Ended February 28, 2015												Three Months Ended February 28, 2014
	United Refining Company			Guarantors			Eliminations			United Refining Company & Subsidiaries			United Refining Company			Guarantors			Eliminations			United Refining Company & Subsidiaries
Net sales	$	398,588		$	299,837		$	(117,521	)	$	580,904		$	584,853		$	393,881		$	(205,015	)	$	773,719

Costs and expenses:
Costs of goods sold (exclusive of depreciation and amortization)		380,799			255,351			(117,521	)		518,629			464,875			363,101			(205,015	)		622,961
Selling, general and administrative expenses		6,036			34,922			—			40,958			6,473			35,308			—			41,781
Depreciation and amortization expenses		8,481			2,044			—			10,525			5,306			1,834			—			7,140

		395,316			292,317			(117,521	)		570,112			476,654			400,243			(205,015	)		671,882

Operating income (loss)		3,272			7,520			—			10,792			108,199			(6,362	)		—			101,837

Other income (expense):
Interest expense, net		(6,402	)		(230	)		—			(6,632	)		(6,331	)		(238	)		—			(6,569	)
Other, net		(1,744	)		195			—			(1,549	)		(872	)		139			—			(733	)
Equity in net income (loss) of subsidiaries		4,391			—			(4,391	)		—			(3,742	)		—			3,742			—

		(3,755	)		(35	)		(4,391	)		(8,181	)		(10,945	)		(99	)		3,742			(7,302	)

(Loss) income before income tax (benefit) expense		(483	)		7,485			(4,391	)		2,611			97,254			(6,461	)		3,742			94,535
Income tax (benefit) expense		(2,086	)		3,094			—			1,008			39,584			(2,719	)		—			36,865

Net (loss) income	$	1,603		$	4,391		$	(4,391	)	$	1,603		$	57,670		$	(3,742	)	$	3,742		$	57,670

5. Employee Benefit Plans


	Six Months Ended February 28, 2015												Six Months Ended February 28, 2014
	United Refining Company			Guarantors			Eliminations			United Refining Company & Subsidiaries			United Refining Company			Guarantors			Eliminations			United Refining Company & Subsidiaries
Net sales	$	1,024,385		$	680,183		$	(298,967	)	$	1,405,601		$	1,276,541		$	808,887		$	(419,994	)	$	1,665,434

Costs and expenses:
Costs of goods sold (exclusive of depreciation and amortization)		964,754			590,010			(298,967	)		1,255,797			1,140,600			740,520			(419,994	)		1,461,126
Selling, general and administrative expenses		12,753			69,243			—			81,996			13,004			69,923			—			82,927
Depreciation and amortization expenses		16,776			4,101			—			20,877			10,479			3,651			—			14,130

		994,283			663,354			(298,967	)		1,358,670			1,164,083			814,094			(419,994	)		1,558,183

Operating income (loss)		30,102			16,829			—			46,931			112,458			(5,207	)		—			107,251

Other income (expense):
Interest expense, net		(12,815	)		(475	)		—			(13,290	)		(12,629	)		(474	)		—			(13,103	)
Other, net		(2,517	)		360			—			(2,157	)		(1,720	)		323			—			(1,397	)
Equity in net income (loss) of subsidiaries		9,914			—			(9,914	)		—			(3,076	)		—			3,076			—

		(5,418	)		(115	)		(9,914	)		(15,447	)		(17,425	)		(151	)		3,076			(14,500	)

Income (loss) before income tax expense (benefit)		24,684			16,714			(9,914	)		31,484			95,033			(5,358	)		3,076			92,751
Income tax expense (benefit)		5,467			6,800			—			12,267			38,450			(2,282	)		—			36,168

Net income (loss)	$	19,217		$	9,914		$	(9,914	)	$	19,217		$	56,583		$	(3,076	)	$	3,076		$	56,583

~~For~~11 ~~the periods ended November 30, 2014 and 2013, net pension and other postretirement benefit costs were comprised of the following:~~

	Pension Benefits						Other Post-Retirement Benefits
	Three Months EndedNovember 30,						Three Months EndedNovember 30,
	2014			2013			2014			2013
	(in thousands)
Service cost	$	157		$	149		$	(151	)	$	194
Interest cost on benefit obligation		1,213			1,311			(413	)		518
Expected return on plan assets		(1,588	)		(1,403	)		—			—
Amortization and deferral of net loss		180			175			786			(465	)
Net periodic benefit cost	$	(38	)	$	232		$	222		$	247

AsUNITED ofREFINING ~~November 30,~~COMPANY ~~2014,~~AND ~~$1,138,000~~SUBSIDIARIES ~~of contributions have been made to the Company pension plans for the fiscal year ending August 31, 2015.~~

~~The~~Notes ~~Company accrues post-retirement benefits other than pensions, during the years that the employees render the necessary service, of the expected cost of providing those benefits~~ to anConsolidated ~~employee~~Financial ~~and~~Statements ~~the employee’s beneficiaries and covered dependents.~~

6.(Unaudited) ~~Fair Value Measurements~~

~~The~~Condensed ~~carrying~~Consolidating ~~values~~Statements of ~~all~~Cash ~~financial~~Flows instruments classified as a current asset or a current liability approximate fair value because of the short maturity of these instruments. The fair value of marketable securities is determined by available market prices. The fair value exceeded the carrying value of the long term debt at November 30, 2014 and August 31, 2014 by $21,889,000 and $19,960,000, respectively.

13(in thousands)

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.


	Six Months Ended February 28, 2015											Six Months Ended February 28, 2014
	United Refining Company			Guarantors			Eliminations		United Refining Company and Subsidiaries			United Refining Company			Guarantors			Eliminations		United Refining Company and Subsidiaries
Net cash provided by operating activities	$	27,712		$	3,996		$	—	$	31,708		$	40,636		$	3,565		$	—	$	44,201

Cash flows from investing activities:
Additions to property, plant and equipment		(11,739	)		(8,330	)		—		(20,069	)		(12,798	)		(7,555	)		—		(20,353	)
Additions to deferred turnaround costs		(543	)		(2,015	)		—		(2,558	)		(3,014	)		(110	)		—		(3,124	)
Additions to deferred integrity and replacement costs		(28,630	)		—			—		(28,630	)		—			—			—		—
Proceeds from asset dispositions		2			2			—		4			56			—			—		56

Net cash used in investing activities		(40,910	)		(10,343	)		—		(51,253	)		(15,756	)		(7,665	)		—		(23,421	)

Cash flows from financing activities:
Dividends to preferred shareholder and common stockholder		(18,691	)		—			—		(18,691	)		(4,810	)		—			—		(4,810	)
Proceeds from issuance of long-term debt		—			—			—		—			—			1,426			—		1,426
Principal reductions of long-term debt		(293	)		(511	)		—		(804	)		(467	)		(533	)		—		(1,000	)
Distribution to parent under the tax sharing agreement		—			—			—		—			(2,593	)		—			—		(2,593	)

Net cash (used in) provided by financing activities		(18,984	)		(511	)		—		(19,495	)		(7,870	)		893			—		(6,977	)

Net (decrease) increase in cash and cash equivalents		(32,182	)		(6,858	)		—		(39,040	)		17,010			(3,207	)		—		13,803
Cash and cash equivalents, beginning of year		79,356			19,681			—		99,037			141,386			17,151			—		158,537

Cash and cash equivalents, end of period	$	47,174		$	12,823		$	—	$	59,997		$	158,396		$	13,944		$	—	$	172,340

~~Forward~~12 ~~Looking Statements~~

ThisTable Quarterly Report on Form 10-Q contains certain statements that constitute “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements may include, among other things, United Refining Company and its subsidiaries current expectations with respect to future operating results, future performance of its refinery and retail operations, capital expenditures and other financial items. Words such as “expects”, “intends”, “plans”, “projects”, “believes”, “estimates”, “may”, “will”, “should”, “shall”, “anticipates”, “predicts”, and similar expressions typically identify such forward looking statements in this Quarterly Report on Form 10-Q. Contents

ByUNITED ~~their~~REFINING ~~nature,~~COMPANY ~~all~~AND ~~forward~~SUBSIDIARIES looking statements involve risk and uncertainties. All phases of the Company’s operations involve risks and uncertainties, many of which are outside of the Company’s control, and any one of which, or a combination of which, could materially affect the Company’s results of operations and whether the forward looking statements ultimately prove to be correct. Actual results may differ materially from those contemplated by the forward looking statements for a number of reasons.

~~Although~~Notes we believe our expectations are based on reasonable assumptions within the bounds of its knowledge, investors and prospective investors are cautioned that such statements are only projections and that actual events or results may differ materially depending on a variety of factors described in greater detail in the Company’s filings with the SEC, including quarterly reports on Form 10-Q, annual reports on Form 10-K, current reports on Form 8-K, etc. In addition to ~~the~~Consolidated ~~factors~~Financial ~~discussed~~Statements elsewhere in this Quarterly Report on Form 10-Q, the Company’s actual consolidated quarterly or annual operating results have been affected in the past, or could be affected in the future, by additional factors, including, without limitation:

•(Unaudited) ~~the demand for and supply of crude oil and refined products;~~

•5. ~~the~~Employee ~~spread~~Benefit ~~between market prices for refined products and market prices for crude oil;~~Plans

•For ~~repayment~~the periods ended February 28, 2015 and 2014, net pension and other postretirement benefit costs were comprised of ~~debt;~~the following:

• general economic, business and market conditions;


	Pension Benefits
	Three Months Ended February 28,						Six Months Ended February 28,
	2015			2014			2015			2014
	(in thousands)
Service cost	$	156		$	149		$	313		$	298
Interest cost on benefit obligation		1,212			1,311			2,425			2,622
Expected return on plan assets		(1,587	)		(1,403	)		(3,175	)		(2,806	)
Amortization and deferral of net loss		181			176			361			351

Net periodic benefit cost	$	(38	)	$	233		$	(76	)	$	465

• risks and uncertainties with respect to the actions of actual or potential competitive suppliers of refined petroleum products in our markets;


	Other Post-Retirement Benefits
	Three Months Ended February 28,						Six Months Ended February 28,
	2015			2014			2015			2014
	(in thousands)
Service cost	$	(151	)	$	193		$	(302	)	$	387
Interest cost on benefit obligation		(413	)		518			(826	)		1,036
Amortization and deferral of net loss		786			(465	)		1,572			(930	)

Net periodic benefit cost	$	222		$	246		$	444		$	493

•As ~~the~~of ~~possibility~~February 28, 2015, $2,142,000 of ~~inefficiencies~~contributions orhave ~~shutdowns~~been inmade ~~refinery~~to ~~operations~~the orCompany pension ~~pipelines;~~plans for the fiscal year ending August 31, 2015.

•The Company accrues post-retirement benefits other than pensions, during the ~~availability~~years ~~and~~that the employees render the necessary service, of the expected cost of ~~financing~~providing those benefits to ~~us;~~an employee and the employee’s beneficiaries and covered dependents.

•6. ~~environmental,~~Fair ~~tax~~Value ~~and tobacco legislation or regulation;~~Measurements

•The ~~volatility~~carrying values of ~~gasoline~~all financial instruments classified as a current asset or a current liability approximate fair value because of the short maturity of these instruments. The fair value of marketable securities is determined by available market prices. The fair value exceeded the carrying value of the long term debt at February 28, ~~margins~~2015 and August 31, 2014 by $17,812,000 and ~~supplies;~~$28,041,000, respectively.

•7. ~~merchandising~~Subsequent ~~margins;~~Events

•On ~~labor~~April ~~costs;~~8, 2015 (the “Execution Date”), the Company entered into a Put and Call Option Agreement with each of Enbridge Energy Limited Partnership (“Enbridge LP”) and Enbridge Pipelines Inc. (“Enbridge Inc.” and, together with Enbridge LP, the “Carriers”). The Put and Call Option Agreement entered into with Enbridge LP (the “U.S. Agreement”) is substantially similar to the Put and Call Option Agreement entered into with Enbridge Inc. (the “Canadian Agreement” and, together with the U.S. Agreement, the “Put and Call Agreement”). The Put

•13 ~~level of capital expenditures;~~

•Table customerof traffic;Contents

•UNITED ~~weather~~REFINING ~~conditions;~~COMPANY AND SUBSIDIARIES

•Notes ~~acts~~to ofConsolidated ~~terrorism~~Financial ~~and~~Statements ~~war;~~

•(Unaudited) ~~business strategies;~~

• and ~~expansion~~Call Agreement was contemplated in that certain Letter Agreement, originally executed on July 31, 2014 and ~~growth~~last amended on April 8, 2015 (the “Letter Agreement”), between the Company and the Carriers relating to approximately 88.85 miles of ~~operations;~~pipeline owned by the Carriers, which transports crude oil from Canada to the Company’s Kiantone Pipeline in West Seneca, New York, and serves the Company’s refinery in Warren, Pennsylvania (“Line 10”). The Letter Agreement related to the parties’ agreement concerning funding certain integrity and replacement costs for Line 10. The Letter Agreement also contemplated that the parties would enter into a put and call agreement relating to the sale of Line 10 from the Carriers to the Company.

•The ~~future~~Carriers ~~projects~~own the pipeline facilities generally identified as Line 10, including real property interests through and ~~investments;~~under which Line 10 passes, the Carriers’ assignable permits related to the ownership and operation of Line 10, as well as personal property, contract rights, records and incidental rights held solely in connection with Line 10 (collectively, the “Assets”). Pursuant to the Put and Call Agreement, the Carriers granted the Company a right (the “Call Option”) to purchase all of the Assets and the Company granted the Carriers the right to put all the Assets to the Company (the “Put Option” and, together with the Call Option, the “Purchase Options”) subject to the terms and conditions of the Put and Call Agreement.

14The Carrier’s Put Option is exercisable beginning on the date that is the earlier of (a) January 1, 2026 and (b) the date that is 30 days after the latest of (i) the date on which the Carriers give notice that the Line 10 replacement work performed pursuant to the Letter Agreement is sufficiently completed (as contemplated in the Call and Put Agreement) and (ii) the ninth (9th) anniversary of the Execution Date (the “Put Option Commencement Date”). The Put Option terminates on the date that is 24 months after either (a) the Put Option Commencement Date if such date is the first of a month or (b) the first day of the calendar month immediately following the Put Option Commencement Date if it is not the first day of the month (the “Put/Call Option Expiry Date”). The Company’s Call Option is exercisable at any time beginning on the Execution Date and ending on the Put/Call Option Expiry Date.

•The purchase ~~future~~price ~~exposure~~of tothe ~~currency~~Assets ~~devaluations~~(the “Purchase Price”) shall be calculated as follows: the sum of (a) 70% of the book value of the Assets as of July 31, 2014 minus annual depreciation, (b) 100% of total replacement costs for any segment replacements on the Pipeline commenced by the Carrier, whether completed or ~~exchange~~ongoing ~~rate~~on ~~fluctuations;~~the date of Asset sale is consummated (the “Closing Date”), minus any of such expenses paid by the Company and (c) 100% of the total regulatory requirements costs for any regulatory work commenced by the Carrier, whether completed or ongoing at the Closing Date, minus any of such expenses paid by the Company. The Purchase Price shall be subject to adjustment pursuant to the Agreement with respect to certain work ongoing at the Closing Date.

•Among ~~expected~~other ~~outcomes~~customary conditions to closing, Carrier’s obligation to close the sale of ~~legal~~the ~~and~~Assets ~~administrative~~is ~~proceedings~~conditioned on the Company’s payment of all obligations outstanding pursuant to the Put and ~~their~~Call ~~expected~~Agreement ~~effects~~and onthe ~~our~~Letter ~~financial~~Agreement. ~~position~~In addition, ~~results~~the sale of ~~operations~~Assets ~~and~~pursuant to ~~cash~~the ~~flows;~~U.S. ~~and~~Agreement shall close concurrently with the sale of the Assets pursuant to the Canadian Agreement.

•The ~~future~~Company ~~operating~~and ~~results~~the Carrier agreed that certain work must be undertaken in order to carve out portions of Line 10 in Canada from the Enbridge mainline system and ~~financial~~allow ~~condition~~it to operate independently. In the event any work is required to similarly separate the U.S. portion of Line 10 from the Enbridge mainline system (the “Carve-Out Work”), a plan to perform such Carve-Out Work that would result in expenses greater than $38.5 million will require the approval of the Company.

~~All~~In ~~subsequent~~the ~~written~~event ~~and~~any ~~oral~~of ~~forward~~the ~~looking~~maintenance, ~~statements~~regulatory ~~attributable~~requirement, ~~to the Company~~ or ~~persons~~replacement ~~acting~~work oncontemplated ~~its behalf are expressly qualified~~ in ~~their entirety by~~ the ~~foregoing.~~Letter WeAgreement ~~undertake no obligation to update any information contained herein~~ or ~~to publicly release~~ the ~~results~~Put ofand ~~any~~Call ~~revisions~~Agreement to(collectively, ~~any~~the ~~such~~“Work”) ~~forward~~is ~~looking~~outstanding ~~statements that may be made to reflect~~at ~~events~~the orClosing ~~circumstances that occur~~Date, ~~or which we become aware of, after the date of this Quarterly Report on Form 10-Q.~~

~~Recent~~14 ~~Developments~~

TheTable Company continues to be impacted by the volatility in petroleum markets in fiscal 2015. The lagged 3-2-1 crackspread is measured by the difference between the prices of crude oil contracts traded on the NYMEX for the preceding month to the prices of NYMEX gasoline and heating oil contracts in the current trading month. The Company uses a lagged crackspread as a margin indicator as it reflects the margin during the time period between the purchase of crude oil and its delivery to the refinery for processing. The lagged crackspread for the first quarter of fiscal 2015 was $9.03. Through December 31, 2014 the indicated lagged crackspread for the second quarter ending February 28, 2015 was $6.50, a $2.53 decrease from the average for the first quarter of fiscal 2015. Contents

~~Results~~UNITED ofREFINING ~~Operations~~COMPANY AND SUBSIDIARIES

~~The~~Notes ~~Company~~to isConsolidated aFinancial ~~petroleum~~Statements ~~refiner and marketer in its primary market area of Western New York and Northwestern Pennsylvania. Operations are organized into two business segments: wholesale and retail.~~

~~The~~(Unaudited) wholesale segment is responsible for the acquisition of crude oil, petroleum refining, supplying petroleum products to the retail segment and the marketing of petroleum products to wholesale and industrial customers. The retail segment sells petroleum products under the Kwik Fill®, Citgo® and Keystone® brand names through a network of Company-operated retail units and convenience and grocery items through Company-owned gasoline stations and convenience stores under the Red Apple Food Mart® and Country Fair® brand names.

A concurrently ~~discussion~~with ~~and~~the ~~analysis~~closing of the ~~factors~~Asset ~~contributing~~sale, the Company and the Carriers will enter into an operating agreement (the “Operating Agreement”) pursuant to which the ~~Company’s~~Carriers ~~results~~will provide ofcertain ~~operations~~operational ~~are~~and ~~presented~~administrative ~~below~~services (the “Services”) while the Work is ongoing and complete such Work. ~~The~~As ~~accompanying~~payment ~~Consolidated~~for ~~Financial~~the ~~Statements~~Services and ~~related~~completion ~~Notes~~of the Work, ~~together~~the ~~with~~Carriers shall be: (i) reimbursed for all expenses ~~the~~of ~~following~~providing ~~information~~the Services, ~~are~~(ii) paid ~~intended~~a tofixed ~~supply~~fee ~~investors~~of ~~with~~on aan ~~reasonable~~annual basis, which shall be subject to a 2% increase for ~~evaluating~~each successive year following the ~~Company’s~~first ~~operations~~year of the Operating Agreement, ~~but~~and ~~does~~(ii) paid ~~not~~for ~~serve~~all toexpenses ~~predict~~of the ~~Company’s~~Work ~~future~~not previously ~~performance~~paid, as well as a 2.25% construction management fee.

15The Put and Call Agreement may be terminated by the mutual consent of the Company and the Carriers and shall automatically terminate if neither Purchase Option is exercised prior to the Put/Call Option Expiry Date. Moreover, either the Company or a Carrier may terminate the Put and Call Agreement if a closing of the Asset sale shall not have occurred on or before December 31, 2028 assuming the terminating party is not then in breach of the Put and Call Agreement and if a party has breached a representation, such breach has not been cured within the time periods allotted by the Put and Call Agreement. Finally, the Company may terminate the Put and Call Agreement by notifying the Carriers to cease the replacement work contemplated in the Letter Agreement.

~~Retail~~15 ~~Operations:~~

	Three Months EndedNovember 30,
	2014			2013
	(dollars in thousands)
Net Sales
Petroleum	$	310,965		$	345,712
Merchandise and other		68,191			68,016
Total Net Sales		379,156			413,728
Costs of goods sold		333,427			376,277
Selling, general and administrative expenses		34,207			34,505
Depreciation and amortization expenses		1,763			1,561
Segment Operating Income	$	9,759		$	1,385
Retail Operating Data:
Petroleum sales (thousands of gallons)		92,470			97,473
Petroleum margin (a)	$	28,331		$	20,392
Petroleum margin ($/gallon) (b)		.3064			.2092
Merchandise and other margins	$	17,398		$	17,058
Merchandise margin (percent of sales)		26	%		25	%

~~(a)~~Item ~~Includes~~2. ~~the~~Management’s ~~effect~~Discussion ofand ~~intersegment~~Analysis ~~purchases~~of ~~from~~Financial ~~the~~Condition ~~Company’s~~and ~~wholesale~~Results ~~segment~~of ~~at prices which approximate market~~Operations.

~~(b)~~Forward ~~Company~~Looking ~~management~~Statements calculates petroleum margin per gallon by dividing petroleum gross margin by petroleum sales volumes. Management uses fuel margin per gallon calculations to compare profitability to other companies in the industry. Petroleum margin per gallon may not be comparable to similarly titled measures used by other companies in the industry.

~~Comparison~~This Quarterly Report on Form 10-Q contains certain statements that constitute “forward looking statements” within the meaning of ~~Fiscal~~the ~~Quarters~~Private ~~Ended~~Securities ~~November 30~~Litigation Reform Act of 1995. These forward looking statements may include, ~~2014~~among other things, United Refining Company and ~~2013~~its subsidiaries current expectations with respect to future operating results, future performance of its refinery and retail operations, capital expenditures and other financial items. Words such as “expects”, “intends”, “plans”, “projects”, “believes”, “estimates”, “may”, “will”, “should”, “shall”, “anticipates”, “predicts”, and similar expressions typically identify such forward looking statements in this Quarterly Report on Form 10-Q.

~~Net~~By ~~Sales~~their nature, all forward looking statements involve risk and uncertainties. All phases of the Company’s operations involve risks and uncertainties, many of which are outside of the Company’s control, and any one of which, or a combination of which, could materially affect the Company’s results of operations and whether the forward looking statements ultimately prove to be correct. Actual results may differ materially from those contemplated by the forward looking statements for a number of reasons.

~~Retail~~Although ~~sales~~we ~~decreased~~believe ~~during~~our expectations are based on reasonable assumptions within the ~~fiscal~~bounds ~~quarter~~of ~~ended~~its ~~November 30~~knowledge, ~~2014~~investors and byprospective ~~$34.6~~investors ~~million~~are cautioned that such statements are only projections and that actual events or ~~8.4%~~results ~~from~~may ~~the~~differ ~~comparable~~materially ~~period~~depending inon ~~fiscal~~a ~~2014~~variety ~~from~~of ~~$413.7~~factors ~~million~~described toin ~~$379.1~~greater ~~million.~~detail ~~The~~in ~~decrease~~the ~~was~~Company’s ~~due~~filings with the SEC, toincluding aquarterly ~~$34~~reports on Form 10-Q, annual reports on Form 10-K, current reports on Form 8-K, etc.6 ~~million~~In ~~decrease~~addition to the factors discussed elsewhere in ~~petroleum~~this ~~sales.~~Quarterly ~~The~~Report ~~petroleum~~on ~~sales~~Form ~~decrease~~10-Q, ~~resulted~~the ~~from~~Company’s aactual ~~5.0 million~~consolidated ~~gallon~~quarterly or aannual operating ~~5.1%~~results ~~decrease~~have inbeen ~~retail~~affected ~~petroleum~~in ~~volume~~the ~~and~~past, aor ~~5.2%~~could ~~decrease~~be affected in ~~retail~~the ~~selling~~future, ~~prices~~by ~~per~~additional ~~gallon.~~factors, including, without limitation:

~~Costs~~• the demand for and supply of ~~Goods~~crude ~~Sold~~oil and refined products;

~~Retail~~• ~~costs of goods sold decreased during~~ the ~~fiscal~~spread ~~quarter~~between ~~ended~~market ~~November 30,~~prices ~~2014~~for byrefined ~~$42.9~~products ~~million or 11.4% from the comparable period in fiscal 2014 from $376.3 million to $333.4 million. The decrease was primarily due to $44.9 million in petroleum purchases, $.2 million in freight costs~~ and ~~$.2~~market ~~million~~prices infor ~~merchandise~~crude ~~costs offset by an increase in fuel taxes of $2.4 million.~~ oil;

~~Selling,~~• ~~General~~repayment ~~and~~of ~~Administrative Expenses~~ debt;

~~Retail~~• ~~Selling,~~general ~~General and Administrative (“SG&A”) expenses remained relatively constant during the fiscal quarters ended November 30~~economic, ~~2014~~business and ~~2013.~~market conditions;

16• risks and uncertainties with respect to the actions of actual or potential competitive suppliers of refined petroleum products in our markets;

~~Wholesale~~• ~~Operations:~~the possibility of inefficiencies or shutdowns in refinery operations or pipelines;

	Three Months EndedNovember 30,
	2014		2013
	(dollars in thousands)
Net Sales (a)	$	445,541	$	477,987
Costs of goods sold (exclusive of depreciation, amortization)		403,741		461,888
Selling, general and administrative expenses		6,831		6,641
Depreciation and amortization expenses		8,589		5,429
Segment Operating Income	$	26,380	$	4,029

•

the availability and cost of financing to us;

~~Key~~• ~~Wholesale~~environmental, ~~Operating~~tax ~~Statistics:~~and tobacco legislation or regulation;

	Three Months EndedNovember 30,
	2014			2013
Refinery Product Yield (thousands of barrels)
Gasoline and gasoline blendstock		2,533			2,712
Distillates		1,372			1,401
Asphalt		1,837			1,990
Butane, propane, residual products, internally produced fuel and other (“Other”)		654			548
Total Product Yield		6,396			6,651
% Heavy Crude Oil of Total Refinery Throughput (b)		62	%		62	%
Crude throughput (thousand barrels per day)		64.1			67.2
Product Sales (thousand of barrels) (a)
Gasoline and gasoline blendstock		1,571			1,451
Distillates		1,087			1,076
Asphalt		1,760			1,930
Other		192			267
Total Product Sales Volume		4,610			4,724
Product Sales (dollars in thousands) (a)
Gasoline and gasoline blendstock	$	154,238		$	162,894
Distillates		121,186			140,281
Asphalt		160,452			158,409
Other		9,665			16,403
Total Product Sales	$	445,541		$	477,987

•

volatility of gasoline prices, margins and supplies;

~~(a)~~• ~~Sources~~merchandising ~~of total product sales include products manufactured at the refinery located in Warren, Pennsylvania and products purchased from third parties.~~margins;

~~(b)~~• ~~The~~labor ~~Company defines “heavy” crude oil as crude oil with an American Petroleum Institute specific gravity of 26 or less.~~costs;

~~Comparison~~• level of ~~Fiscal~~capital ~~Quarters Ended November 30, 2014 and 2013~~ expenditures;

~~Net~~• ~~Sales~~customer traffic;

~~Wholesale~~• ~~sales~~weather decreased during the three months ended November 30, 2014 by $32.4 million or 6.8% from the comparable period in fiscal 2014 from $477.9 million to $445.5 million. The decrease was due primarily to a 2.3% decrease in wholesale volume and a 4.6% decrease in wholesale prices. conditions;

17• acts of terrorism and war;

~~Costs~~• ofbusiness ~~Goods Sold (exclusive of depreciation and amortization)~~ strategies;

~~Wholesale~~• ~~costs~~expansion of goods sold decreased during the three months ended November 30, 2014 by $58.2 million or 12.6% from the comparable period in fiscal 2014 from $461.9 million to $403.7 million. The decrease in wholesale costs of goods sold during this period was primarily due to a decrease in cost and ~~volume~~growth of ~~raw materials.~~ operations;

~~Selling,~~• ~~General~~future projects and ~~Administrative Expenses~~ investments;

~~Wholesale~~• ~~SG&A~~future ~~expenses~~exposure ~~remained~~to ~~relatively~~currency ~~constant~~devaluations ~~during~~or ~~the~~exchange ~~three~~rate ~~months ended November 30, 2014 and 2013.~~ fluctuations;

~~Depreciation~~16 ~~and Amortization~~

Depreciation,Table amortization increased during the three months ended November 30, 2014 by $3.2 million for the comparable period for fiscal 2014 from $5.4 million to $8.6 million. The increase was primarily due to increases of $1.6 million in turnaround cost amortization and $1.6 million amortization of integrity and replacement costs. Contents

~~Consolidated~~• ~~Expenses:~~expected outcomes of legal and administrative proceedings and their expected effects on our financial position, results of operations and cash flows; and

~~Interest~~• ~~Expense,~~future ~~net~~operating results and financial condition.

~~Net~~All ~~interest~~subsequent ~~expense~~written ~~(interest~~and ~~expense~~oral ~~less~~forward ~~interest~~looking ~~income)~~statements ~~remained~~attributable ~~relatively~~to ~~constant~~the ~~during~~Company or persons acting on its behalf are expressly qualified in their entirety by the ~~three~~foregoing. ~~months~~We ~~ended~~undertake no obligation to update any information contained herein or to publicly release the results of any revisions to any such forward looking statements that may be made to reflect ~~November 30~~events or circumstances that occur, ~~2014~~or ~~and~~which ~~2013~~we become aware of, after the date of this Quarterly Report on Form 10-Q.

~~Income~~Recent ~~Tax~~Developments ~~Expense~~

The Company’s ~~effective~~continues ~~tax~~to ~~rate~~be ~~remained~~impacted ~~approximately~~by ~~39%~~the ~~for~~volatility ~~the~~in ~~three~~petroleum ~~months~~markets ~~ended~~in ~~November~~fiscal 2015. 30NYMEX crude prices decreased $55 per barrel or 54% from August 31, 2014 ~~and~~to February 28, 2015. ~~2013~~This decrease in crude price is reflected in decreased selling prices and subsequent net sales for the Company.

~~Liquidity~~The lagged 3-2-1 crackspread is measured by the difference between the prices of crude oil contracts traded on the NYMEX for the preceding month to the prices of NYMEX gasoline and ~~Capital~~heating ~~Resources~~oil contracts in the current trading month. The Company uses a lagged crackspread as a margin indicator as it reflects the margin during the time period between the purchase of crude oil and its delivery to the refinery for processing. The lagged crackspread for the second quarter of fiscal 2015 was $8.04. Through April 2, 2015 the indicated lagged crackspread for the third quarter ending May 31, 2015 was $24.67, a $16.63 increase from the average for the second quarter of fiscal 2015.

WeResults ~~operate in an environment where our liquidity and capital resources are impacted by changes in the price~~ of ~~crude~~Operations oil and refined petroleum products, availability of credit, market uncertainty and a variety of additional factors beyond our control. Included in such factors are, among others, the level of customer product demand, weather conditions, governmental regulations, worldwide political conditions and overall market and economic conditions.

The ~~following~~Company ~~table summarizes~~is ~~selected~~a ~~measures~~petroleum refiner and marketer in its primary market area of ~~liquidity~~Western New York and ~~capital~~Northwestern Pennsylvania. ~~sources~~Operations ~~(in~~are ~~thousands)~~organized into two business segments: wholesale and retail.

	November 30, 2014
Cash and cash equivalents	$	67,671
Working capital	$	316,607
Current ratio		4.1
Debt	$	239,695

The wholesale segment is responsible for the acquisition of crude oil, petroleum refining, supplying petroleum products to the retail segment and the marketing of petroleum products to wholesale and industrial customers. The retail segment sells petroleum products under the Kwik Fill^®, Citgo^® and Keystone^® brand names through a network of Company-operated retail units and convenience and grocery items through Company-owned gasoline stations and convenience stores under the Red Apple Food Mart^® and Country Fair^® brand names.

~~Primary~~A ~~sources~~discussion and analysis of ~~liquidity~~the ~~have~~factors ~~been~~contributing ~~cash~~to ~~and~~the ~~cash~~Company’s ~~equivalents,~~results ~~and~~of ~~borrowing availability~~operations ~~under~~are ~~our~~presented ~~revolving~~below. ~~credit~~The ~~facility~~accompanying ~~(the~~Consolidated ~~“Amended~~Financial Statements and ~~Restated~~related ~~Revolving~~Notes, ~~Credit~~together ~~Facility”)~~ with the ~~PNC~~following ~~Bank~~information, ~~N.A.~~are asintended ~~Administrator~~to ~~(the~~supply ~~“Agent~~investors ~~Bank”).~~with Wea ~~believe~~reasonable ~~available~~basis ~~capital~~for ~~resources~~evaluating ~~are~~the ~~adequate~~Company’s ~~to meet our working capital~~operations, ~~debt~~but ~~service,~~does ~~and~~not ~~capital~~serve ~~expenditure~~to ~~requirements~~predict ~~for~~the ~~existing~~Company’s ~~operations~~future performance.

1817

OurTable cash and cash equivalents consist of bank balances and investments in money market funds. These investments have staggered maturity dates, none of which exceed three months. They have a high degree of liquidity since the securities are traded in public markets. Contents

~~Significant~~Retail ~~Uses~~Operations: ~~of Cash~~

The changes in cash for the three months ended November 30, 2014 are described below.


	Three Months Ended February 28,						Six Months Ended February 28,
	2015			2014			2015			2014
	(dollars in thousands)
Net Sales
Petroleum	$	235,985		$	330,749		$	546,950		$	676,461
Merchandise and other		62,681			62,007			130,872			130,023

Total Net Sales	$	298,666		$	392,756		$	677,822		$	806,484
Costs of goods sold	$	254,025		$	361,878		$	587,452		$	738,155
Selling, general and administrative expenses		34,808			35,215			69,015			69,720
Depreciation and amortization expenses		1,793			1,578			3,556			3,139

Segment Operating Income (Loss)	$	8,040		$	(5,915	)	$	17,799		$	(4,530	)

Retail Operating Data:
Petroleum sales (thousands of gallons)		89,712			91,657			182,182			189,131
Petroleum margin (a)	$	28,610		$	15,363		$	56,941		$	35,756
Petroleum margin ($/gallon) (b)		.3189			.1676			.3126			.1891
Merchandise and other margins	$	16,031		$	15,515		$	33,429		$	32,573
Merchandise margin (percent of sales)		25.6	%		25.0	%		25.5	%		25.1	%

~~The~~(a) ~~cash~~Includes ~~used~~the ineffect ~~working~~of ~~capital~~intersegment ispurchases ~~shown~~from ~~below:~~the Company’s wholesale segment at prices which approximate market.

	Three Months EndedNovember 30, 2014
	(in millions)
Cash used in working capital items:
Prepaid expense decrease	$	19.4
Accrued liabilities increase		5.6
Inventory increase		(38.0	)
Accounts payable decrease		(10.2	)
Sales, use and fuel taxes payable decrease		(1.5	)
Accounts receivable increase		(1.0	)
Amounts due from affiliated companies, net		(.5	)
Prepaid income taxes increase		(.4	)
Total change	$	(26.6	)

(b)

Company management calculates petroleum margin per gallon by dividing petroleum gross margin by petroleum sales volumes. Management uses fuel margin per gallon calculations to compare profitability to other companies in the industry. Petroleum margin per gallon may not be comparable to similarly titled measures used by other companies in the industry.

~~Available~~Comparison ~~cash~~of onFiscal ~~hand~~Quarters ~~decreased~~Ended byFebruary 28, ~~$31.4~~2015 ~~million.~~and ~~Other~~2014 ~~cash uses included:~~

•Net ~~Fund~~Sales ~~operating activities used in working capital items of $26.6 million~~

•Retail ~~Fund~~sales ~~capital~~decreased ~~expenditures~~during ~~and~~the ~~deferred~~fiscal ~~turnaround~~quarter ~~costs~~ended February 28, 2015 by $94.1 million or 24.0% from the comparable period in fiscal 2014 from $392.8 million to $298.7 million. The decrease was due to a $94.8 million decrease in petroleum sales offset by an increase in merchandise sales of $12.67 million. The petroleum sales decrease resulted from a 1.9 million gallon or a 2.1% decrease in retail petroleum volume and a 27.1% decrease in retail selling prices per gallon.

•Costs ~~Dividends to preferred stockholder and common stockholder~~ of ~~$2.1~~Goods ~~million~~Sold

•Retail ~~Scheduled~~costs ~~long-term~~of ~~debt~~goods ~~repayments~~sold decreased during the fiscal quarter ended February 28, 2015 by $107.9 million or 29.8% from the comparable period in fiscal 2014 from $361.9 million to $254.0 million. The decrease was primarily due to $111.6 million in petroleum purchase costs and $.1 million in freight costs offset by an increase of $.41 million in merchandise costs and fuel taxes of $3.7 million.

•18 ~~Fund deferred integrity and replacement costs of $28.6 million~~

WeTable require a substantial investment in working capital which is susceptible to large variations during the year resulting from purchases of inventory and seasonal demands. Inventory purchasing activity is a function of sales activity and turnaround cycles for the different refinery units. Contents

~~Maintenance~~Selling, ~~and~~General ~~non-discretionary capital expenditures have averaged approximately $6.0 million annually over the last three years for the refining~~ and ~~marketing~~Administrative ~~operations.~~Expenses ~~Management does not foresee any increase in these maintenance and non-discretionary capital expenditures during fiscal year 2015 at this time.~~

~~Future~~Retail ~~liquidity~~Selling, ~~both~~General ~~short~~ and ~~long-term,~~Administrative ~~will~~(“SG&A”) ~~continue to be primarily dependent on realizing a refinery margin sufficient to cover fixed and variable~~ expenses, ~~including~~remained ~~planned~~relatively ~~capital~~constant ~~expenditures.~~during We expect to be able to meet our working capital, capital expenditure, contractual obligations, letter of credit and debt service requirements out of cash flow from operations, cash on hand and borrowings under our Amended and Restated Revolving Credit Facility of $175,000,000. This provides the ~~Company with flexibility relative to its cash flow requirements in light of market fluctuations, particularly~~fiscal ~~involving~~quarters ~~crude~~ended ~~oil prices and seasonal business cycles and will assist the Company in meeting its working capital, ongoing capital expenditure needs and for general corporate purposes. The agreement expires on May~~February 1828, ~~2016.~~2015 ~~Under the Amended~~ and Restated Revolving Credit Facility, the applicable margin is calculated on the average unused availability as follows: (a) for base rate borrowing, at the greater of the Agent Bank’s prime rate or the Federal Funds Open Rate plus 12014.~~5%; or~~ ~~the Daily~~

19Comparison of Six Months Ended February 28, 2015 and 2014

~~LIBOR~~Net ~~rate~~Sales plus 3%; plus an applicable margin of 0% to .5%; (b) for euro-rate based borrowings, at the LIBOR Rate plus an applicable margin of 2.75% to 3.25%. The Agent Bank’s prime rate at November 30, 2014 was 3.25%.

~~The~~Retail ~~Amended~~sales ~~and~~decreased ~~Restated~~during ~~Revolving~~the ~~Credit~~six ~~Facility~~months isended ~~secured primarily by certain cash accounts~~February 28, ~~accounts~~2015 ~~receivable~~by ~~and inventory~~$128.7 ~~Until~~million ~~maturity,~~or we16.0% ~~may~~from ~~borrow~~the oncomparable aperiod ~~borrowing~~in ~~base~~fiscal ~~formula~~2014 asfrom ~~set forth in the facility~~$806.5 Wemillion ~~had~~to ~~standby letters of credit of~~ $8677.8 million. asThe ofdecrease ~~November 30, 2014 and there~~was ~~were~~primarily nodue ~~outstanding~~to ~~borrowings~~$129.5 ~~under~~million ~~the~~in ~~Amended~~petroleum ~~and~~sales, ~~Restated~~offset ~~Revolving~~by ~~Credit~~an ~~Facility~~increase ~~resulting in net availability~~ of $~~166~~.28 million. Asin ofmerchandise ~~January 14,~~sales. ~~2015,~~The ~~there~~petroleum ~~were~~sales nodecrease ~~outstanding~~resulted ~~borrowings~~from ~~under~~a ~~the~~16.1% ~~Amended~~decrease ~~and Restated Revolving Credit Facility and there were standby letters of credit~~ in ~~the~~retail ~~amount~~selling ofprices ~~$8.8~~per ~~million,~~gallon ~~resulting~~and in a ~~net availability of $166~~6.2 9 million ~~and~~gallon ~~the~~or ~~Company had full access to it~~3.7% decrease ~~The~~in ~~Company’s~~sales ~~working capital ratio was 4~~volume.1 ~~as of November 30, 2014.~~

~~Although~~Costs ~~we are not aware~~ of ~~any~~Goods ~~pending~~Sold circumstances which would change our expectation, changes in the tax laws, the imposition of and changes in federal and state clean air and clean fuel requirements and other changes in environmental laws and regulations may also increase future capital expenditure levels. Future capital expenditures are also subject to business conditions affecting the industry. We continue to investigate strategic acquisitions and capital improvements to our existing facilities.

~~Federal,~~Retail ~~state~~costs ~~and~~of ~~local~~goods ~~laws~~sold ~~and~~decreased ~~regulations~~during ~~relating to~~ the ~~environment~~six ~~affect~~months ~~nearly~~ended ~~all~~February 28, of2015 ~~our~~by ~~operations~~$150.7 Asmillion isor ~~the~~20.4% ~~case with all~~ from the ~~companies~~comparable ~~engaged~~period in ~~similar~~fiscal ~~industries,~~2014 ~~we face significant exposure~~ from ~~actual or potential claims and lawsuits involving environmental matters~~$738.2 ~~Future~~million ~~expenditures related~~ to ~~environmental~~$587.5 ~~matters~~million. ~~cannot~~The bedecrease ~~reasonably~~was ~~quantified~~primarily ~~in many circumstances~~ due to ~~the~~$156.5 ~~uncertainties~~million asin topetroleum ~~required~~purchase ~~remediation methods~~prices and ~~related~~freight ~~clean-up~~costs ~~cost~~of ~~estimates~~$.3 Wemillion, ~~cannot~~offset ~~predict~~by ~~what~~an ~~additional~~increase ~~environmental legislation or regulations will be enacted or become effective~~ in ~~the~~fuel ~~future~~taxes orof ~~how existing or future laws or regulations will be administered or interpreted with respect to products or activities to which they have not been previously applied~~$6.1 million.

~~Seasonal~~Selling, ~~Factors~~ General and Administrative Expenses

~~Seasonal~~Retail ~~factors~~Selling, ~~affecting~~General ~~the~~and ~~Company’s~~Administrative ~~business~~(“SG&A”) ~~may~~expenses ~~cause~~remained ~~variation~~relatively inconstant during the ~~prices and margins of~~six ~~some~~months ofended ~~the Company’s products. For example~~February 28, ~~demand~~2015 ~~for gasoline tends to be highest in spring~~ and ~~summer months, while demand for home heating oil and kerosene tends to be highest in winter months~~2014.

AsWholesale aOperations: ~~result, the margin on gasoline prices versus crude oil costs generally tends to increase in the spring and summer, while margins on home heating oil and kerosene tend to increase in the winter.~~

Inflation


	Three Months Ended February 28,				Six Months Ended February 28,
	2015		2014		2015		2014
	(dollars in thousands)
Net Sales (a)	$	282,238	$	380,963	$	727,779	$	858,950
Costs of goods sold (exclusive of depreciation, amortization)		264,604		261,083		668,345		722,971
Selling, general and administrative expenses		6,150		6,566		12,981		13,207
Depreciation and amortization expenses		8,732		5,562		17,321		10,991

Segment Operating Income	$	2,752	$	107,752	$	29,132	$	111,781

~~The~~19 ~~effect of inflation on the Company has not been significant during the last five fiscal years.~~

ItemTable 3.of Quantitative and Qualitative Disclosures about Market Risk.Contents

~~The~~Key ~~Company~~Wholesale ~~uses~~Operating ~~its~~Statistics: Amended and Restated Revolving Credit Facility to finance a portion of its operations. This on-balance sheet financial instrument, to the extent it provides for variable rates, exposes the Company to interest rate risk resulting from changes in the Agent Bank’s Prime rate, the Federal Funds or LIBOR rate. As of January 14, 2015, there were no outstanding borrowings under the Amended and Restated Revolving Credit Facility.

From time to time, the Company uses derivatives to reduce its exposure to fluctuations in crude oil purchase costs and refining margins. Derivative products, specifically crude oil option contracts and crack spread option contracts are used to hedge the volatility of these items. The Company accounts for changes in the fair value of its contracts by marking them to market and recognizing any resulting gains or losses in its Consolidated Statements of Income. There has been no derivative activity in fiscal 2015.


	Three Months Ended February 28,						Six Months Ended February 28,
	2015			2014			2015			2014
Refinery Product Yield (thousands of barrels)
Gasoline and gasoline blendstock		2,659			2,420			5,192			5,132
Distillates		1,259			1,236			2,631			2,637
Asphalt		1,751			1,697			3,588			3,687
Butane, propane, residual products, internally produced fuel and other (“Other”)		560			642			1,214			1,190

Total Product Yield		6,229			5,995			12,625			12,646

% Heavy Crude Oil of Total Refinery Throughput (b)		61	%		61	%		62	%		62	%
Crude throughput (thousand barrels per day)		61.8			59.7			63.0			63.5

Product Sales (thousand of barrels) (a)
Gasoline and gasoline blendstock		1,596			1,346			3,167			2,785
Distillates		1,097			880			2,184			1,969
Asphalt		1,347			1,295			3,108			3,226
Other		161			199			353			464

Total Product Sales Volume		4,201			3,720			8,812			8,444

Product Sales (dollars in thousands) (a)
Gasoline and gasoline blendstock	$	101,894		$	152,000		$	256,131		$	314,894
Distillates		89,494			119,896			210,680			260,177
Asphalt		86,069			96,190			246,522			254,599
Other		4,781			12,877			14,446			29,280

Total Product Sales	$	282,238		$	380,963		$	727,779		$	858,950

20(a) Sources of total product sales include products manufactured at the refinery located in Warren, Pennsylvania and products purchased from third parties.

~~Item~~(b) 4.The ~~Controls~~Company ~~and~~defines ~~Procedures~~“heavy” crude oil as crude oil with an American Petroleum Institute specific gravity of 26 or less.

~~Our~~Comparison ~~management, with the participation~~ of ~~our~~Fiscal ~~chief~~Quarters ~~executive~~Ended ~~officer and chief financial officer, evaluated the effectiveness of our disclosure controls and procedures as of November~~February 3028, ~~2014.~~2015 ~~The term “disclosure controls~~ and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on the evaluation of our disclosure controls and procedures as of November 30, 2014, ~~our chief executive officer and chief financial officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.~~

~~There~~Net ~~have~~Sales not been any changes in the Company’s internal controls over financial reporting that occurred during the Company’s fiscal quarter ended November 30, 2014 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

21Wholesale sales decreased during the three months ended February 28, 2015 by $98.7 million or 25.9% from the comparable period in fiscal 2014 from $380.9 million to $282.2 million. The decrease was due primarily to a 25.9% decrease in wholesale prices offset by an increase of 12.9% in wholesale volume.

~~Part~~Costs IIof ~~OTHER~~Goods Sold ~~INFORMATION~~(exclusive of depreciation and amortization)

~~Item~~Wholesale costs of goods sold increased during the three months ended February 28, 2015 by $3.5 million or 1.3% ~~Legal~~from ~~Proceedings~~the comparable period in fiscal 2014 from $261.1 million to $264.6 million. The increase in wholesale costs of goods sold during this period was primarily due to an increase in volume of raw materials.

~~None.~~Selling, General and Administrative Expenses

~~Item~~Wholesale ~~1A.~~SG&A ~~Risk~~expenses ~~Factors~~remained relatively constant during the three months ended February 28, 2015 and 2014.

~~There~~20 ~~have been no material changes in our Risk Factors disclosed in the Form 10-K for the year ended August 31, 2014.~~

ItemTable 2. Unregistered Sales of Equity Securities and Use of Proceeds.Contents

~~None.~~Depreciation and Amortization

~~Item~~Depreciation, amortization increased during the three months ended February 28, 2015 by $3.2 ~~Defaults~~million ~~Upon~~for ~~Senior~~the comparable ~~Securities~~period for fiscal 2014 from $5.5 million to $8.7 million. The increase was primarily due to increases of $1.6 million in turnaround cost amortization and $1.6 million amortization of integrity and replacement costs.

~~None.~~Comparison of Six Months Ended February 28, 2015 and 2014

~~Item~~Net 4.Sales ~~Mine Safety Disclosures.~~

~~Not~~Wholesale ~~applicable~~sales decreased during the six months ended February 28, 2015 by $131.2 million or 15.3% from the comparable period in fiscal 2014 from $859.0 million to $727.8 million. The decrease was due to a 15.3% decrease in wholesale prices offset by a 4.4% increase in wholesale volume.

~~Item~~Costs 5.of ~~Other~~Goods ~~Information.~~Sold (exclusive of depreciation and amortization)

~~None~~Wholesale costs of goods sold decreased during the six months ended February 28, 2015 by $54.6 million or 7.6% from the comparable period in fiscal 2014 from $723.0 million to $668.4 million. The decrease in wholesale costs of goods sold was primarily due to a decrease in the cost and volume of raw materials.

~~Item~~Selling, 6.General ~~Exhibits.~~and Administrative Expenses

Exhibit 10.1		Amendment, dated December 16, 2014, to letter agreement between Enbridge Energy Limited Partnership and Enbridge Pipeline, Inc. and United Refining Company and Kiantone Pipeline Corporation
Exhibit 31.1		Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Exhibit 31.2		Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Exhibit 32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 101		Interactive XBRL Data

Wholesale SG&A expenses remained relatively constant during the six months ended February 28, 2015 and 2014.

22Depreciation and Amortization

~~SIGNATURES~~Depreciation, amortization increased during the three months ended February 28, 2015 by $6.3 million for the comparable period for fiscal 2014 from $11.0 million to $17.3 million. The increase was primarily due to increases of $3.2 million in turnaround cost amortization and $3.1 million amortization of integrity and replacement costs.

~~Pursuant~~Consolidated toExpenses: ~~the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~

~~Date:~~Interest ~~January 14~~Expense, ~~2015~~net

~~UNITED~~Net ~~REFINING~~interest ~~COMPANY~~expense (~~Registrant)~~interest ~~/s/~~expense ~~Myron~~less L.interest ~~Turfitt~~income) ~~Myron~~remained L.relatively ~~Turfitt~~constant ~~President~~during ~~/s/~~the ~~James~~three E.and ~~Murphy~~six ~~James~~months ended E.February 28, ~~Murphy~~2015 ~~Chief~~and ~~Financial~~2014. ~~Officer~~

23Income Tax Expense

~~SIGNATURES~~The Company’s effective tax rate remained approximately 39% for the three and six months ended February 28, 2015 and 2014.

~~Pursuant~~Liquidity toand ~~the~~Capital ~~requirements~~Resources ~~of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~

~~Date:~~We ~~January 14~~operate in an environment where our liquidity and capital resources are impacted by changes in the price of crude oil and refined petroleum products, ~~2015~~availability of credit, market uncertainty and a variety of additional factors beyond our control. Included in such factors are, among others, the level of customer product demand, weather conditions, governmental regulations, worldwide political conditions and overall market and economic conditions.

~~KIANTONE~~21 ~~PIPELINE CORPORATION (Registrant) /s/ Myron L. Turfitt Myron L. Turfitt President /s/ James E. Murphy James E. Murphy Chief Financial Officer~~

24Table of Contents

~~SIGNATURES~~The following table summarizes selected measures of liquidity and capital sources (in thousands):

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	February 28, 2015
Cash and cash equivalents	$	59,997
Working capital	$	310,908
Current ratio		5.2
Debt	$	239,611

~~Date:~~Primary ~~January 14~~sources of liquidity have been cash and cash equivalents, ~~2015~~and borrowing availability under our revolving credit facility (the “Amended and Restated Revolving Credit Facility”) with PNC Bank, N.A. as Administrator (the “Agent Bank”). We believe available capital resources are adequate to meet our working capital, debt service, and capital expenditure requirements for existing operations.

~~UNITED~~Our ~~REFINING~~cash ~~COMPANY~~and cash OFequivalents ~~PENNSYLVANIA~~consist ~~(Registrant)~~of ~~/s/~~bank ~~Myron~~balances L.and ~~Turfitt~~investments ~~Myron~~in Lmoney market funds. ~~Turfitt~~These ~~President~~investments ~~/s/~~have ~~James~~staggered E.maturity ~~Murphy~~dates, ~~James~~none Eof which exceed three months. ~~Murphy~~They ~~Chief~~have ~~Financial~~a ~~Officer~~high degree of liquidity since the securities are traded in public markets.

25Significant Uses of Cash

~~SIGNATURES~~The changes in cash for the six months ended February 28, 2015 are described below.

~~Pursuant~~The tocash ~~the~~used ~~requirements~~in ofworking ~~the~~capital ~~Securities~~is ~~Exchange~~shown ~~Act~~below: ~~of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~

Date: January 14, 2015


	Six Months Ended February 28, 2015
	(in millions)
Cash used in working capital items:
Prepaid expense decrease	$	38.1
Accounts receivable decrease		20.0
Refundable income taxes decrease		6.0
Inventory increase		(47.3	)
Accounts payable decrease		(25.4	)
Prepaid income taxes increase		(10.1	)
Accrued liabilities decrease		(4.2	)
Sales, use and fuel taxes payable decrease		(4.0	)
Amounts due from affiliated companies, net		(1.7	)

Total change	$	(28.6	)

~~KIANTONE~~Available ~~PIPELINE~~cash ~~COMPANY~~on ~~(Registrant)~~hand ~~/s/~~decreased ~~Myron~~by L$39.0 ~~Turfitt Myron L~~million. ~~Turfitt~~Other ~~President~~cash ~~/s/~~uses ~~James~~included: ~~E. Murphy James E. Murphy Chief Financial Officer~~

26• Fund operating activities used in working capital items of $28.6 million

~~SIGNATURES~~• Fund capital expenditures and deferred turnaround costs of $22.6 million

~~Pursuant~~• Dividends to ~~the~~preferred ~~requirements~~shareholder ofand ~~the~~common ~~Securities~~stockholder ~~Exchange Act~~ of ~~1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized~~$18.7 million

~~Date:~~• ~~January 14,~~Scheduled ~~2015~~long-term debt repayments of $.8 million

~~UNITED~~• ~~JET~~Fund ~~CENTER,~~deferred ~~INC.~~integrity ~~(Registrant)~~and ~~/s/~~replacement ~~Myron~~costs L.of ~~Turfitt Myron L~~$28.6 ~~Turfitt President /s/ James E. Murphy James E. Murphy Chief Financial Officer~~million

27We require a substantial investment in working capital which is susceptible to large variations during the year resulting from purchases of inventory and seasonal demands. Inventory purchasing activity is a function of sales activity and turnaround cycles for the different refinery units.

~~SIGNATURES~~22

PursuantTable to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Contents

~~Date:~~Maintenance ~~January 14,~~and non-discretionary capital expenditures have averaged approximately $6.0 million annually over the last three years for the refining and marketing operations. Management does not foresee any increase in these maintenance and non-discretionary capital expenditures during fiscal year 2015 at this time.

~~KWIK~~Future liquidity, both short and long-~~FILL~~term, ~~CORPORATION~~will continue to be primarily dependent on realizing a refinery margin sufficient to cover fixed and variable expenses, including planned capital expenditures. We expect to be able to meet our working capital, capital expenditure, contractual obligations, letter of credit and debt service requirements out of cash flow from operations, cash on hand and borrowings under our Amended and Restated Revolving Credit Facility of $175,000,000. This provides the Company with flexibility relative to its cash flow requirements in light of market fluctuations, particularly involving crude oil prices and seasonal business cycles and will assist the Company in meeting its working capital, ongoing capital expenditure needs and for general corporate purposes. The agreement expires on November 29, 2017. Under the Amended and Restated Revolving Credit Facility, the applicable margin is calculated on the average unused availability as follows: (~~Registrant~~a) for /base rate borrowing, at the greater of the Agent Bank’s/ ~~Myron~~prime Lrate or the Federal Funds Open Rate plus .75%; ~~Turfitt~~or ~~Myron~~the LDaily LIBOR rate plus 2.75%; ~~Turfitt~~plus ~~President~~an ~~/s/~~applicable ~~James~~margin Eof 0% to .5%; ~~Murphy~~(b) for ~~James~~euro-rate Ebased borrowings, at the LIBOR Rate plus an applicable margin of 2.25% ~~Murphy~~to ~~Chief~~3.25%. ~~Financial~~The ~~Officer~~Agent Bank’s prime rate at February 28, 2015 was 3.25%.

The Amended and Restated Revolving Credit Facility is secured primarily by certain cash accounts, accounts receivable and inventory. Until maturity, we may borrow on a borrowing base formula as set forth in the facility. We had standby letters of credit of $8.8 million as of February 28, 2015 and there were no outstanding borrowings under the Amended and Restated Revolving Credit Facility resulting in net availability of $166.2 million. As of April 14, 2015, there were no outstanding borrowings under the Amended and Restated Revolving Credit Facility and there were standby letters of credit in the amount of $8.8 million, resulting in a net availability of $166.2 million and the Company had full access to it. The Company’s working capital ratio was 5.2 as of February 28, 2015.

~~SIGNATURES~~Although we are not aware of any pending circumstances which would change our expectation, changes in the tax laws, the imposition of and changes in federal and state clean air and clean fuel requirements and other changes in environmental laws and regulations may also increase future capital expenditure levels. Future capital expenditures are also subject to business conditions affecting the industry. We continue to investigate strategic acquisitions and capital improvements to our existing facilities.

~~Pursuant~~Federal, state and local laws and regulations relating to the ~~requirements~~environment affect nearly all of our operations. As is the ~~Securities~~case ~~Exchange~~with ~~Act~~all ofthe ~~1934~~companies engaged in similar industries, ~~the~~we ~~registrant~~face ~~has~~significant exposure ~~duly~~from ~~caused~~actual ~~this~~or ~~report~~potential claims and lawsuits involving environmental matters. Future expenditures related to environmental matters cannot be reasonably quantified in many circumstances due to the uncertainties as to required remediation ~~signed~~methods onand ~~its~~related ~~behalf~~clean-up bycost estimates. We cannot predict what additional environmental legislation or regulations will be enacted or become effective in the ~~undersigned~~future ~~thereunto~~or ~~duly~~how ~~authorized~~existing or future laws or regulations will be administered or interpreted with respect to products or activities to which they have not been previously applied.

~~Date:~~Seasonal ~~January 14, 2015~~ Factors

~~INDEPENDENT~~Seasonal ~~GASOLINE~~factors ~~AND~~affecting ~~OIL~~the ~~COMPANY~~Company’s OFbusiness ~~ROCHESTER,~~may ~~INC.~~cause ~~(Registrant)~~variation ~~/s/~~in ~~Myron~~the L.prices ~~Turfitt~~and ~~Myron~~margins L.of some ~~Turfitt~~of ~~President~~the /Company’s/ ~~James E~~products. ~~Murphy~~For ~~James~~example, E.demand ~~Murphy~~for ~~Chief~~gasoline ~~Financial~~tends ~~Officer~~to be highest in spring and summer months, while demand for home heating oil and kerosene tends to be highest in winter months.

29As a result, the margin on gasoline prices versus crude oil costs generally tends to increase in the spring and summer, while margins on home heating oil and kerosene tend to increase in the winter.

~~SIGNATURES~~23

PursuantTable to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Contents

~~Date:~~Inflation ~~January 14, 2015~~

~~BELL~~The ~~OIL~~effect ~~CORP.~~of ~~(Registrant)~~inflation ~~/s/~~on ~~Myron~~the L.Company ~~Turfitt~~has ~~Myron~~not L.been ~~Turfitt~~significant ~~President~~during ~~/s/~~the ~~James~~last E.five ~~Murphy~~fiscal ~~James E~~years. ~~Murphy Chief Financial Officer~~

30Item 3. Quantitative and Qualitative Disclosures about Market Risk.

~~SIGNATURES~~The Company uses its Amended and Restated Revolving Credit Facility to finance a portion of its operations. This on-balance sheet financial instrument, to the extent it provides for variable rates, exposes the Company to interest rate risk resulting from changes in the Agent Bank’s Prime rate, the Federal Funds or LIBOR rate. As of April 14, 2015, there were no outstanding borrowings under the Amended and Restated Revolving Credit Facility.

~~Pursuant~~From time to time, the ~~requirements~~Company ofuses ~~the~~derivatives ~~Securities~~to ~~Exchange~~reduce ~~Act~~its ofexposure ~~1934~~to fluctuations in crude oil purchase costs and refining margins. Derivative products, ~~the~~specifically ~~registrant~~crude ~~has~~oil ~~duly~~option ~~caused~~contracts ~~this~~and ~~report~~crack spread option contracts are used to behedge the ~~signed~~volatility onof these items. The Company accounts for changes in the fair value of its ~~behalf~~contracts by ~~the~~marking ~~undersigned~~them ~~thereunto~~to ~~duly~~market ~~authorized~~and recognizing any resulting gains or losses in its Consolidated Statements of Income. There has been no derivative activity in fiscal 2015.

~~Date:~~Item ~~January 14,~~4. ~~2015~~Controls and Procedures.

~~PPC~~Our management, ~~INC~~with the participation of our chief executive officer and chief financial officer, evaluated the effectiveness of our disclosure controls and procedures as of February 28, 2015. The term “disclosure controls and procedures,” as defined in Rules 13a-15(~~Registrant~~e) /and 15d-15(e) under the Exchange Act, means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reported, within the time periods specified in the SEC’s/ ~~Myron~~rules Land forms. ~~Turfitt~~Disclosure ~~Myron~~controls L.and ~~Turfitt~~procedures ~~President~~include, /without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s/ ~~James~~management, Eincluding its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. ~~Murphy~~Management ~~James~~recognizes Ethat any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. ~~Murphy~~Based ~~Chief~~on ~~Financial~~the ~~Officer~~evaluation of our disclosure controls and procedures as of February 28, 2015, our chief executive officer and chief financial officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.

31There have not been any changes in the Company’s internal controls over financial reporting that occurred during the Company’s fiscal quarter ended February 28, 2015 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

~~SIGNATURES~~24

PursuantTable to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Contents

~~Date:~~Part ~~January 14,~~II ~~2015~~OTHER INFORMATION

~~SUPER~~Item ~~TEST PETROLEUM, INC~~1. ~~(Registrant)~~Legal ~~/s/ Myron L~~Proceedings. ~~Turfitt Myron L. Turfitt President /s/ James E. Murphy James E. Murphy Chief Financial Officer~~

32None.

~~SIGNATURES~~Item 1A. Risk Factors.

~~Pursuant~~There tohave ~~the~~been ~~requirements~~no ofmaterial ~~the~~changes ~~Securities~~in ~~Exchange~~our ~~Act~~Risk ofFactors ~~1934,~~disclosed in the ~~registrant~~Form ~~has~~10-K ~~duly~~for ~~caused this report to be signed on its behalf by~~ the ~~undersigned~~year ~~thereunto~~ended ~~duly~~August 31, ~~authorized~~2014.

~~Date:~~Item ~~January 14,~~2. ~~2015~~Unregistered Sales of Equity Securities and Use of Proceeds.

~~KWIK-FIL, INC~~None. ~~(Registrant) /s/ Myron L. Turfitt Myron L. Turfitt President /s/ James E. Murphy James E. Murphy Chief Financial Officer~~

33Item 3. Defaults Upon Senior Securities.

~~SIGNATURES~~None.

~~Pursuant~~Item to4. ~~the~~Mine ~~requirements~~Safety ~~of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized~~Disclosures.

~~Date:~~Not ~~January 14,~~applicable. ~~2015~~

~~VULCAN~~Item ~~ASPHALT REFINING CORPORATION (Registrant) /s/ Myron L~~5. ~~Turfitt~~Other ~~Myron L~~Information. ~~Turfitt President /s/ James E. Murphy James E. Murphy Chief Financial Officer~~

34On April 8, 2015 (the “Execution Date”), the Company entered into a Put and Call Option Agreement with each of Enbridge Energy Limited Partnership (“Enbridge LP”) and Enbridge Pipelines Inc. (“Enbridge Inc.” and, together with Enbridge LP, the “Carriers”). The Put and Call Option Agreement entered into with Enbridge LP (the “U.S. Agreement”) is substantially similar to the Put and Call Option Agreement entered into with Enbridge Inc. (the “Canadian Agreement” and, together with the U.S. Agreement, the “Put and Call Agreement”). The Put and Call Agreement was contemplated in that certain Letter Agreement, originally executed on July 31, 2014 and last amended on April 8, 2015 (the “Letter Agreement”), between the Company and the Carriers relating to approximately 88.85 miles of pipeline owned by the Carriers, which transports crude oil from Canada to the Company’s Kiantone Pipeline in West Seneca, New York, and serves the Company’s refinery in Warren, Pennsylvania (“Line 10”). The Letter Agreement related to the parties’ agreement concerning funding certain integrity and replacement costs for Line 10. The Letter Agreement also contemplated that the parties would enter into a put and call agreement relating to the sale of Line 10 from the Carriers to the Company.

~~SIGNATURES~~The Carriers own the pipeline facilities generally identified as Line 10, including real property interests through and under which Line 10 passes, the Carriers’ assignable permits related to the ownership and operation of Line 10, as well as personal property, contract rights, records and incidental rights held solely in connection with Line 10 (collectively, the “Assets”). Pursuant to the Put and Call Agreement, the Carriers granted the Company a right (the “Call Option”) to purchase all of the Assets and the Company granted the Carriers the right to put all the Assets to the Company (the “Put Option” and, together with the Call Option, the “Purchase Options”) subject to the terms and conditions of the Put and Call Agreement.

~~Pursuant~~The toCarrier’s Put Option is exercisable beginning on the ~~requirements~~date that is the earlier of (a) January 1, 2026 and (b) the ~~Securities~~date ~~Exchange~~that ~~Act~~is 30 days after the latest of ~~1934,~~(i) the date on which the ~~registrant~~Carriers ~~has~~give ~~duly~~notice ~~caused~~that ~~this~~the ~~report~~Line 10 replacement work performed pursuant to bethe Letter Agreement is sufficiently completed (as ~~signed~~contemplated in the Call and Put Agreement) and (ii) the ninth (9th) anniversary of the Execution Date (the “Put Option Commencement Date”). The Put Option terminates on ~~its~~the ~~behalf~~date bythat is 24 months after either (a) the ~~undersigned~~Put ~~thereunto~~Option ~~duly~~Commencement ~~authorized~~Date if such date is the first of a month or (b) the first day of the calendar month immediately following the Put Option Commencement Date if it is not the first day of the month (the “Put/Call Option Expiry Date”). The Company’s Call Option is exercisable at any time beginning on the Execution Date and ending on the Put/Call Option Expiry Date.

~~Date:~~25 ~~January 14, 2015~~

COUNTRYTable FAIR,of INC. (Registrant) /s/ Myron L. Turfitt Myron L. Turfitt President and Chief Operating Officer /s/ James E. Murphy James E. Murphy Vice President FinanceContents

35The purchase price of the Assets (the “Purchase Price”) shall be calculated as follows: the sum of (a) 70% of the book value of the Assets as of July 31, 2014 minus annual depreciation, (b) 100% of total replacement costs for any segment replacements on the Pipeline commenced by the Carrier, whether completed or ongoing on the date of Asset sale is consummated (the “Closing Date”), minus any of such expenses paid by the Company and (c) 100% of the total regulatory requirements costs for any regulatory work commenced by the Carrier, whether completed or ongoing at the Closing Date, minus any of such expenses paid by the Company. The Purchase Price shall be subject to adjustment pursuant to the Agreement with respect to certain work ongoing at the Closing Date.

Among other customary conditions to closing, Carrier’s obligation to close the sale of the Assets is conditioned on the Company’s payment of all obligations outstanding pursuant to the Put and Call Agreement and the Letter Agreement. In addition, the sale of Assets pursuant to the U.S. Agreement shall close concurrently with the sale of the Assets pursuant to the Canadian Agreement.

The Company and the Carrier agreed that certain work must be undertaken in order to carve out portions of Line 10 in Canada from the Enbridge mainline system and allow it to operate independently. In the event any work is required to similarly separate the U.S. portion of Line 10 from the Enbridge mainline system (the “Carve-Out Work”), a plan to perform such Carve-Out Work that would result in expenses greater than $38.5 million will require the approval of the Company.

In the event any of the maintenance, regulatory requirement, or replacement work contemplated in the Letter Agreement or the Put and Call Agreement (collectively, the “Work”) is outstanding at the Closing Date, concurrently with the closing of the Asset sale, the Company and the Carriers will enter into an operating agreement (the “Operating Agreement”) pursuant to which the Carriers will provide certain operational and administrative services (the “Services”) while the Work is ongoing and complete such Work. As payment for the Services and completion of the Work, the Carriers shall be: (i) reimbursed for all expenses of providing the Services, (ii) paid a fixed fee of on an annual basis, which shall be subject to a 2% increase for each successive year following the first year of the Operating Agreement, and (ii) paid for all expenses of the Work not previously paid, as well as a 2.25% construction management fee.

The Put and Call Agreement may be terminated by the mutual consent of the Company and the Carriers and shall automatically terminate if neither Purchase Option is exercised prior to the Put/Call Option Expiry Date. Moreover, either the Company or a Carrier may terminate the Put and Call Agreement if a closing of the Asset sale shall not have occurred on or before December 31, 2028 assuming the terminating party is not then in breach of the Put and Call Agreement and if a party has breached a representation, such breach has not been cured within the time periods allotted by the Put and Call Agreement. Finally, the Company may terminate the Put and Call Agreement by notifying the Carriers to cease the replacement work contemplated in the Letter Agreement.

Item 6.

Exhibits.



Exhibit 10.1		Amendment, dated January 30, 2015, to letter agreement between Enbridge Energy Limited Partnership and Enbridge Pipeline, Inc. and United Refining Company and Kiantone Pipeline Corporation

Exhibit 10.2		Amendment, dated February 12, 2015, to letter agreement between Enbridge Energy Limited Partnership and Enbridge Pipeline, Inc. and United Refining Company and Kiantone Pipeline Corporation

Exhibit 10.3		Amendment, dated February 19, 2015, to letter agreement between Enbridge Energy Limited Partnership and Enbridge Pipeline, Inc. and United Refining Company and Kiantone Pipeline Corporation

Exhibit 10.4		Amendment, dated March 13, 2015, to letter agreement between Enbridge Energy Limited Partnership and Enbridge Pipeline, Inc. and United Refining Company and Kiantone Pipeline Corporation

Exhibit 10.5		Amendment, dated March 27, 2015, to letter agreement between Enbridge Energy Limited Partnership and Enbridge Pipeline, Inc. and United Refining Company and Kiantone Pipeline Corporation

Exhibit 31.1		Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 31.2		Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 101		Interactive XBRL Data

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

UNITED REFINING COMPANY

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

KIANTONE PIPELINE CORPORATION

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

UNITED REFINING COMPANY OF PENNSYLVANIA

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

KIANTONE PIPELINE COMPANY

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

UNITED JET CENTER, INC.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

KWIK-FILL CORPORATION

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

INDEPENDENT GASOLINE AND OIL

COMPANY OF ROCHESTER, INC.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

BELL OIL CORP.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

PPC, INC.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

SUPER TEST PETROLEUM, INC.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

KWIK-FIL, INC.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

VULCAN ASPHALT REFINING CORPORATION

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President

/s/ James E. Murphy

James E. Murphy

Chief Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 14, 2015

COUNTRY FAIR, INC.

(Registrant)

/s/ Myron L. Turfitt

Myron L. Turfitt

President and Chief Operating Officer

/s/ James E. Murphy

James E. Murphy

Vice President Finance

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