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Microcap & Penny Stocks : Rentech(RTK) - gas-to-liquids and cleaner fuel -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (13642)	3/20/2000 7:44:00 AM
From: tonto	Read Replies (1) \| Respond to of 14347

FYI: Rentech Announces Transactions with Anschutz Investment Company And Forest Oil Corporation DENVER, March 20 /PRNewswire/ -- Rentech, Inc. (OTC Bulletin Board: RNTK - news) announced today it consummated a series of related business transactions with Anschutz Investment Company (``Anschutz') and Forest Oil Corporation (``Forest') (NYSE: FST - news). These transactions came about as a result of discussions with principals of Forest that began in October 1999. Rentech sold 1,000,000 shares of its common stock each to Anschutz and Forest at a price of $0.60 per share. Additionally, Anschutz and Forest purchased options to acquire an additional 3,000,000 shares each of Rentech, Inc. common stock, 2,000,000 each at $1.25 and 1,000,000 each at $5.00 per share. The weighted average price per share of the combined transactions assuming exercise of all options is $2.03. The shares and shares underlying the options constitute a potential combined ownership interest of approximately 11% of Rentech, Inc. Rentech and Forest also executed a Memorandum of Understanding (MOU) pursuant to which Rentech expects to issue one or more site-specific gas-to-liquids (GTL) licenses to Forest. The companies plan to immediately begin the evaluation of several potential opportunities for the conversion of natural gas reserves into GTL hydrocarbons and the retrofitting of existing industrial gas plants to use the Rentech technology for production of GTL products. Dennis L. Yakobson, Chairman, President and Chief Executive Officer of Rentech, commenting on the investments by Anschutz and Forest, noted ``We are delighted to welcome Anschutz Investment Company and Forest Oil Corporation as new shareholders in Rentech, Inc. We are particularly pleased that both companies are long-time Denver-based corporate neighbors. Moreover, we look forward to working with Forest Oil management and staff to identify promising GTL opportunities and to working with the management and staff of both companies to bring the reality of cleaner transportation fuels to the greater Denver area, Colorado, and the world. We believe the combination of strong local investors, our Denver-based advanced laboratory facility, our planned GTL plant at Sand Creek (in Commerce City, a suburb of Denver), and our Denver home office will enhance our ability to market our technology and our company.' Robert S. Boswell, Chairman and Chief Executive Officer of Forest, stated, ``The investment in Rentech and the agreement for licensing its technology is consistent with Forest's vision of utilizing alternative conversion technologies for the commercialization of natural gas reserves worldwide. We believe recent advances in Rentech's conversion processes, its strategy with respect to the deployment of its technology as well as its inherent economic advantages make it a preferred choice for our company to work with going forward.' Rentech, Inc. incorporated in 1981, is the developer and licensor of a patented and proprietary Fischer-Tropsch, gas-to-liquids process, for conversion of synthesis gas made from natural gas, solid or liquid carbon bearing materials into high value fuels, products and chemicals. These products include cleaner burning, sulfur and aromatic-free diesel fuel, naphtha and waxes. Moreover, multiple studies indicate that Fischer-Tropsch diesel may be an excellent fuel for fuel cells. Certain portions of this release may contain ``forward-looking' statements as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements herein. For more information concerning factors that could cause such a difference, see the Company's annual report on Form 10-KSB and quarterly reports on Form 10-QSB, filed with the Securities and Exchange Commission. Although Rentech believes its statements to be reasonable, investors are cautioned that such forward-looking statements involve risk and uncertainties. The company undertakes no obligation to publicly release the result of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.