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: Nextnet who wrote (61)	4/20/1999 3:45:00 PM
From: Nextnet	Read Replies (2) of 275

Hi everyone, in response to my previous post(#61) regarding DD that I would be conducting. Here is some of the information I have gathered from specialists in the company and people involved in the gas/oil industry. With respect to the catalyst: Synergy will be using a catalyst developed by the Russians who have spent the past 50 years developing several hundred catalyst formulations - all either iron or cobalt generically. Currently, there are multiple patents for cobalt catalysts in the USA. There are also other corporations, such as Shell and their Bintulu plant in Malaysia, which use a cobalt catalyst which does not infringe on any Exxon patents. Shell does not use a slurry reactor, neither does OILS. At this time, OILS does not intend to divulge any catalyst details other than the fact that it is generically cobalt, as they consider the formulation to be proprietary. With respect to the delays and the Company's anticipated schedule of operations of both Heavy Oil and GTL: GTL The addition of the two technologies under development required an evaluation by OILS to ensure that the company put its concentrated effort on the technology which could be expected to generate the fastest opportunity for cash flow. The heavy oil technology was determined to require first focus. The decision to construct the GTL plant in the Province of Alberta required additional engineering and design to compensate for required winterization of the plant. OILS had an initial news release in Sept/98 stating that completion was expected for Apr/99. The final design and enigineering is complete and is now out for bids. Due to this unexpected delay completion of the plant has been amended to Nov/99. They will be announcing the commencement of construction and its funding partners by the beginning of May/99. Heavy Oil The news release of early Mar/99 stated that OILS expected testing to commence on its two technologies within two months. This schedule remains intact. The heavy oil technology will be ready to commence testing in Orleans early May/99, subject only to the ability of the test samples to be delivered by each of the companies for whom they will be testing. Each sample will take one week to run in the shop and will be forwarded to an independent laboratory in Rotterdam for further analysis. Timing for the release of results will depend on how many samples there are and the time required by each corporation to complete an analysis of the respective test results. They expect that within 120 days of testing they will be contracting for the development of the first plant. I hope this answers some of the questions that are out there. If anyone else has any information regarding my DD please reply ASAP. I have acquired large amounts of OILS stock at levels much lower and higher than todays. I am considering acquiring an other large position at todays prices and any information to help me make this decision would be appreciated. Regards, Nextnet

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