To: Sportfish who wrote (16 ) 6/2/1999 7:24:00 PM From: GERBER Respond to of 20
Synergy Technologies Reports Successful Testing of Gas-To-Liquids Process DENVER, June 2 /PRNewswire/ -- Synergy Technologies Corp. (OTC Bulletin Board: OILS - news) today said it had successfully completed initial testing of the chain limiting catalyst integral to a reduced-cost process for producing high-value liquid fuels such as diesel and naphtha directly from natural gas. In tests conducted at Synergy's facility in Orleans, France, the catalyst successfully formed liquid hydrocarbons directly from natural gas without producing wax, an intermediary product which heretofore had to undergo an additional process called hydrocracking before being converted into liquid hydrocarbons. Elimination of hydrocracking, combined with utilization of Synergy's proprietary SynGen process, could reduce the cost of producing these liquid hydrocarbons by 20 to 30 percent, said the company. The catalyst will be employed in the four barrel-per-day demo unit currently in engineering and construction, in cooperation with Renaissance Energy Ltd., in Alberta, Canada. The current annual market potential for GTL technologies is estimated at $175 billion worldwide. Synergy Technologies Corp. is a Colorado corporation headquartered in Calgary with offices in Houston and London and an R & D affiliate in Orleans. This document contains forward-looking statements. There are certain important factors that could cause results to differ materially from those anticipated by the statements made above. Additional information on these and other factors are included in the company's Private Placement Offering Circular, dated November 30, 1998. SOURCE: Synergy Technologies Corp.