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To: Starfish* who wrote (8116)	9/2/1998 12:26:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 14347

>>I still don't see the "joint" in this venture. RNTK pays, TCC receives the money, in a joint venture "both" parties put something out there and venture to make it grow.<< You have to look at the whole venture, not just the very first part of it. RNTK pays the initial 60K. If the tests show no promise, then I agree there is no joint venture. If they tests do show promise, then you have your joint venture. Of course we don't have the details of that venture except that if the process is commercialized, RNTK will receive royalties and license fees on all usage.

To: Starfish* who wrote (8116)	9/2/1998 12:37:00 PM
From: BAXTERBOO	Respond to of 14347

You can think of the joint demonstration project as a mini TX deal in reverse, RNTK gives in 60,000 to have TCC do the research and if viable, comes away with a non-exclusive license for a more efficient process+royalties. I'm sure they(RNTK) had this on the drawing board for awhile. TX will give RNTK X amount of dollars to have RNTK's non-exclusive license for a more efficient way of performing GTL and processing refinery bottoms. Big fish, little fish.

To: Starfish* who wrote (8116)	9/2/1998 12:48:00 PM
From: Howard Williams	Read Replies (1) \| Respond to of 14347

Starfish, neither you nor I know the details of the JDP. What if the cost of the work to be done at TCC is $120K? I don't know that that's the case, but if it was, RNTK would be paying half and TCC half. There's labor, utilities, facility amortization, consumables, etc, etc. involved. And RNTK is paying an entry fee to get onboard the TCC technology for GTL first.....with potential downstream zero-cost revenues. If you have a hard time with this deal, you're hard to please. Just the fact that RNTK is out there working the angles to get more competitive in natural gas GTL is worth $60K per probe. Any idea what an entrepreneurial or development stage company normally spends to try to open up a new avenue to exploit their technology? And the issue is not making iron catalyst more efficient, it's whether the TCC torch/reactor is an economically viable front end for the RNTK FT reactor. Bucks well spent, IMHO. H.W.