This from the MF on AOL
Subj: Re: My cuz
Date: 12 May 1997 16:13:44 EDT
From: PROZAPPER
Message-ID: <19970512201301.QAA15327@ladder01.news.aol.com>
I'm impressed that the cuz would post this condemning press release, but please, let's take it with a grain of salt. You do realize that it was released by SOLV! If an SEC investigator or a prosecutor made these statements, then I would say Assensio has something to worry about. What do you expect SOLV would say? That all the charges are completely founded and true!!! I think not.
One other point to consider: SOLV has recently started calling the "plant" a "test facility". This bothers me that none of you longs has picked up on this. Help me out here, but I thought that the Albuquerque plant WAS the test facility, and that JR "went north" to produce bitumen! Why spend $200 million to prove again that he can get goo out of tar? We have all been told that SOLV would be "producing"(i.e. making money) by the end of the first
quarter, which ended 45 days ago. All the releases say that the are "commissioning" (testing) the test facility! Are you getting what you paid for? You also noticed that JR has recently downsized his production plan to 80,000 bpd! Why aren't you longs screaming for the other 20,000 bpd?! And why does JR NOW estimate that the plant to produce this smaller quantity will cost THREE TIMES AS MUCH!!!! Just a couple of months ago JR said he needed
$200,000,000 to finish the plant. Why the change?!!! How about this: JR has admitted that he has no way to transport the bitumen(something that I have said for months), He HOPES to use ALL of the capacity of a PROPOSED new pipline. Have any of you ever heard of "Enviormental Impact Studies"? How about permits and the construction itself? Even if SOLV were legitimate, most of us could be dead and gone before the first drop of piped bitumen ever
reaches the states! This isn't hype or conjecture, it is pure fact that a new pipeline could take ten or twenty years to build! I would like VREX to elaborate. And to make matters worse, nobody has even APPLIED for a permit yet, they have only PROPOSED the idea!!! Re-read the SOLV posts, there is TONS of info if you know what to look for! I think that a few of you tar heads need to purchase glass belly buttons! (They help you to see out!) |
