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Technology Stocks : SLH Corp. (SYNM) - From natural gas to crude oil -- Ignore unavailable to you. Want to Upgrade?

To: John M who wrote (83)	3/15/1998 7:41:00 PM
From: Tokyo VD	Read Replies (3) \| Respond to of 281

JM, I'd agree the Texaco event is important, but it does not warrant an implied $1 billion valuation for Syntroleum. Texaco paid no money upfront for this technology (nor did any other major or partner). The economics of the process call for Syntroleum to receive a royalty per barrel (btw, not a significant amount). The $75 million cost for the facility I quoted was from Texaco and Syntroleum. Syntroleum has since amended this figure to the $50 million range (not coincidentally with the decrease in oil prices). BTW, where is this market to sell this $30 barrel of oil? I'm skeptical of the catalyst's functionality because the 2 bpd pilot plant at Syntroleum doesn't run with any consistancy. This stock was interesting last year, now it is being driven by Syntroleum's hired gun, Bob Czechin. Tokyo