Eric and others: regarding the processor start-up date. I quote from the DHEC construction permit nos. 0560-0269-CA and CB and operating permit no. 102619-7101 issued to Green Oasis Environmental, photocopies of which are in my possession: "In order to comply with the Department regulation 61-72, these construction permits are not effective until 15 calendar days after the date of issue listed on these permits," and that an operating permit must be obtained "no later than 15 days prior to placing the new, increased, or altered source in operation." Both permits are dated September 15, 1997. The permits and the appended conditions frequently refer to a "15-day period to appeal" the issuance of the permits or of the conditions attached to them, so I presume a connection between the appeal period and the delay in start-up. Among the conditions is one requiring that "a licensed Professional Engineer must certify that the facility was constructed in accordance with the approved SPCC plan," in order for the operating permit to become effective. If there are delays beyond the 15-day appeal period, which expired yesterday, they may be attributable to this condition.
Based on my inferences from previous information, I believe that Bill was not fully aware of the additional 15-day waiting period when he originally anticipated a September 22 start-up date. It has consistently been his intention to operate the processor at the maximum permitted capacity as soon as all regulatory requirements are met, allowing two or three additional days for start-up (including actual scheduling of operators). I have recommended to GRNO that they issue a press release regarding the DHEC permits as soon as the processor reaches a stable production state, but, of course, do not know whether they will. There may be other inhibiting factors, such as lawyers. It is possible that GRNO might wait until they have significant fuel sales, in order to substantiate cash flow and profitability, though I would hope for a second press release at that point (which might not come until the 4th quarter financial report is available).
On one other point raised earlier, GRNO (the corporation) owns 10% of the partnership. As I have previously noted, they also have the right to use the processor for sales and research purposes, to the extent that these activities do not interfere with the partnership goal of maintaining the highest feasible production rate.
=+=+=Norm |
