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Gold/Mining/Energy : Energy Biosystem Corp NASDAQ-ENBC -- Ignore unavailable to you. Want to Upgrade?

To: ForYourEyesOnly who wrote (139)	3/14/1998 10:01:00 AM
From: Sector Investor	Read Replies (1) \| Respond to of 336

<<The site license agreement calls for the payment of staged license fees and royalties to Energy BioSystems, including a $200,000 initial site license fee payable upon execution of the agreement. In connection with the execution of the site license agreement, Energy BioSystems issued a warrant entitling Petro Star to purchase shares of Energy BioSystems' common stock.>> The term "staged" implies several licence fees, the first of which is the $200K. "Royalties" implies some amount per barrel. The press release also does not state at what price Petro Star can get the ENBC stock at. The royalties apparently don't kick in until the plant is operational, which could be more than a year away. Are there other agreements being worked on? Does anyone have any further light to shed here?