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Gold/Mining/Energy : Energy Biosystem Corp NASDAQ-ENBC

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To: C E D who wrote (293)	2/9/2000 11:30:00 AM
From: Pluvia	of 336

CED SHOW WHY YOU WOULD INVEST IN ENBC WHEN NONE OF THEIR MAJORS PARTNERS WILL? Note that these big huge companies silently stood by as ENBC almost went broke several different times over the last 9 years... Gee why didn't they take an equity position in ENBC if they thought there was so much potential in ENBC's technology ? Seems like they could have acquired a large stake for a small chunk of change if they felt ENBC had potential? Since they all have first hand exposure to ENBC's "gee-whiz" technology - if it were as great as you suggest - don't you think they would have invested in ENBC ? Maybe the longs here know more than they do? Note also the amount of participation from each of these companies to the ENBC project. It looks pretty laughable to me. see the section titled "Alliances" edgar-online.com ALLIANCES WITH POTENTIAL CUSTOMERS TOTAL RAFFINAGE DISTRIBUTION S.A. In July 1994, * JULY '94? GEE THAT'S 6 1/2 YEARS AGO - WHAT HAPPENED? ENBC PROVED NOTHING THAT's WHAT...* EBC entered into an agreement with TOTAL Raffinage Distribution S.A. ("TOTAL") to collaborate on the application of EBC's BDS process to diesel and other middle distillate fuel streams. EBC and TOTAL will each bear their own costs and expenses incurred under the collaboration. In addition, as part of its obligations under the agreement, TOTAL has provided EBC with the use of analytical equipment valued at approximately $200,000. *only 200k ROFL!!* The agreement with TOTAL provides that upon commercialization, the site license fees will be waived on TOTAL's first commercial BDS unit. In addition, TOTAL will be entitled to receive a 10 percent discount on future site license and service fees until it has recovered two and one-half times its research costs and expenses for BDS projects under the agreement. EBC expects that its alliance with TOTAL will facilitate commercialization of the BDS technology for diesel fuel and EBC's entrance into the European market. EBC's alliance agreement with TOTAL contemplates an evaluation of pilot plant operations, commencing after EBC's completion of the development of a prototype biocatalyst. EBC completed the development of a prototype biocatalyst in late 1996 and continues to conduct bench-scale and pilot plant experimentation using improved generations of the prototype biocatalyst to address the desulfurization targets requested by TOTAL. *ROFL!!! WHAT KINDA MUMBO JUMBO BS IS THIS? ENBC claims to met their obligation in '96 and TOTAL was so impressed they've done nothing to get further involved?** The prototype biocatalyst is intended to possess characteristics sufficiently similar to the commercial biocatalyst to permit the design of a commercial-scale BDS unit although it is not expected or intended to possess sufficient specific activity or other characteristics necessary to be commercially viable. When the BDS processes reach commercial levels for activity and extent, it is expected that TOTAL will build and operate at TOTAL's expense a pilot BDS unit at TOTAL's European Center for Research and Technology. TOTAL has indicated that it intends to employ its initial BDS units for the "ultra deep" (below 50 ppm) desulfurization of diesel, a range of desulfurization far below current regulatory standards in which BDS is expected to possess greater cost advantages as compared to HDS. TOTAL is a wholly owned subsidiary of TOTAL S.A., a leading international oil and gas company based in France. TOTAL S.A. participates in every phase of the oil and gas industry with operations in more than 80 countries worldwide and revenues of over $46 billion.

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