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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Dec 31 4:00 PM EST
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To: Mesaba who wrote (3650)3/31/1997 2:10:00 PM
From: Norman H. Hostetler   of 13091
 
A point that may be overlooked by some people is that the "gallon-per-hour" rating of the processors is the gallons of diesel that can be produced at full capacity, not the gallons of feedstock being processed. These ratings are currently based on the early public assumption that the worst case scenario will be 70% diesel. At the time I was in Charleston in February, the actual operating "worst case scenario" for the processor was about 75% diesel, assuming "poor quality feedstock," of the sort used for the official lab test. In at least one of the tests when I was there, the ratio was higher. If all or some of GRNO's "tests" aimed at increasing the ratio of diesel produced actually continue to lead to improved operating performance, the processor will exceed its rated capacity for gallons of diesel produced. M&K continues to work with GRNO engineers on this kind of design enhancement.

All of my valuation calculations have been based on the assumption of 75% diesel, 18% lower grade fuel oil, and 7% volatile gases consumed by the processor as part of its own fuel needs. I've also assumed that the processor actually operates at an average of 95% of full capacity, and that another 10% reduction in total production is needed to allow downtime for maintainence and repairs. My expectation is that these figures will all prove to be at the most conservative end of actual results, but they have the virtue of making it unlikely that I will be surprised by poorer results.

=+=+=Norm
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