OILS - OTCBB: bringing stranded natural gas to market Message Board

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Technology Stocks : OILS - OTCBB: bringing stranded natural gas to market

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To: Bruno who started this subject	4/4/2001 10:52:54 AM
From: Salt'n'Peppa	of 275

Synergy Technologies Establishes a Presence In Nigeria Wednesday April 4, 8:30 am Eastern Time Press Release SOURCE: Synergy Technologies Corp. Synergy Technologies Establishes a Presence In Nigeria Gas-to-Liquids Technology To Offer Viable Alternative to Flaring CALGARY, Alberta, April 4 /PRNewswire/ -- Synergy Technologies Corp. (OTC Bulletin Board: OILS - news) today said the company has leased office space in Lagos, Nigeria's capital, and has retained staff in order to ``aggressively pursue'' existing opportunities for the application of Synergy's GTL technology, which converts natural gas to usable clean burning liquid fuels. ``The extensive long-term practice of flaring gas in Nigeria's oil fields has had considerable environmental and economic consequences,'' said Thomas E. Cooley, Synergy's chief executive officer and chief technology officer. ``Our affiliation with Drake Oil, which has been promoting gas-to-liquid solutions in Nigeria since the early 1990's, can best represent our ability to provide the Nigerian government and its oil industry with a viable alternative to flaring.'' Mr. Cooley noted natural gas is a major source of energy and Nigeria's gas reserves are estimated to be up to ten times as large as its crude oil reserves. Nigeria contains an estimated 190 trillion cubic feet (Tcf) of proven natural gas reserves (10th largest in the world). However, due to the lack of gas utilization infrastructure, Nigeria flares approximately 75% of the gas that it produces and reinjects about 12% for enhanced oil recovery. Gas flaring contributes to both the production of acid rain and increased carbon emissions into the atmosphere.

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