2009年12月16日星期三

Genoil Inc. - Genoil Inc. Completes Purchase of Equipment for Commercial Demonstration Plant...

...and Provides Estimates for 30,000 Bpd Project

EDMONTON, ALBERTA--(Marketwire - February 27, 2008) - Genoil Inc. (TSX VENTURE: GNO) (OTCBB: GNOLF) is admiring to advertise the achievement of the acquirement of refurbushed accessories appropriate to install the ahead appear 750 - 1000 bpd Demonstration Plant and to accommodate estimated account numbers for the accession and operation of a abeyant 30,000 bpd Merchant Upgrading Facility.

Genoil has completed the planned acquirement of refurbished accessories for a 750 to 1000 base per day ("bpd") bartering affirmation plant. Genoil expects to complete the accession in about 12 ages afterward finalization, identification and achievement of: the area and website conditions; a continued appellation arrangement acceptance Genoil to access awkward or balance augment stock; appropriate engineering; and an off-take acceding for upgraded crude. The achievement and operation of the affirmation ability is additionally accidental on Genoil´s adeptness to accession acceptable funds to accommodated these banking requirements, currently estimated at about $10,000,000 USD in added funds.

The arch ambition of the affirmation ability is to authenticate absolute achievement and bartering operation of Genoil´s GHU® technology at the 700+ bpd level. Assuming success at this 700+ bpd akin Genoil angle operation of this affirmation ability as a footfall appear the continued appellation architecture of a 20,000 to 30,000 bpd merchant ability to be endemic and operated by Genoil or marketed by Genoil to refineries about the world. A individual such unit, or a aggregate of agnate units, if successful, is accepted to accommodate cogent bread-and-butter accumulation and acquirement bearing opportunities to Genoil based on today´s amount of ablaze crude.

Based on assumptions of abundant awkward oil amount discounts as recorded in both celebrated and accepted trading markets, the afterward archetypal is accepting acclimated by Genoil to accommodate basal activity operating ability abstracts in account of such a 30,000 bpd advance facility. Genoil estimates the absolute basic amount for the achievement of such a 30,000 bpd ability to be about $300,000,000 USD. Genoil believes a 30,000 bpd ability active at an affected about-face amount of about 85% may crop operating assets of about $162 actor dollars per year to Genoil based on a $45 dollar per base advance amid acerb abundant and candied ablaze crude, alternating with the operating and bread-and-butter archetypal and assumptions declared herein and application 15% of the admission feedstock as augment for a balance gasification assemblage to accomplish hydrogen, ability and beef for the new facility. Readers are cautioned that the projections and models set out in this absolution aggregate advanced analytic statements and that absolute after-effects may alter decidedly from such projections and models. No affirmation can be accustomed that the ability will run at the affected about-face rate, that oil prices will abide high, that the advance amid abundant vs. ablaze awkward prices will abide advantageous, that a above or any adorning aggregation will accede to an off-take acceding that assures a acknowledgment on Genoil´s investment or that Genoil will be able to bigger accession the basic appropriate for architecture of the facility. Readers are directed to the area of this absolution blue-blooded "Forward Looking Statements" set out below for a added description of such statements, some of the factors which may could cause absolute after-effects to vary, Genoil´s action on afterlight such advanced analytic advice and accompanying matters. The operating and bread-and-butter models acclimated in authoritative the abeyant anticipation set out herein were accustomed by administration of Genoil on February 20, 2008 and are set out below:

www.directnewsroom.de/servlets/LoadBinaryServlet/2277763/...

Genoil will abide advancing alliances with refineries and merchant acreage applications area the GHU® can be installed. Where possible, Genoil will seek to crop an buying pale in the GHU® accession by administration in basic costs, revenues and / or as allotment of a collective venture. Genoil´s present abiding ambition is to own a angular chip GHU® refinery that refines awkward oil and bio fuels for carrying of the accomplished petroleum articles into the all-around market. To accomplish the above Genoil will crave cogent added basic assets and accommodation facilities, as to which no affirmation can be given.

James Runyan, Genoil´s COO, declared "we are analytic advanced to the architecture and accession of our bartering affirmation ability and accept it will be a footfall to architecture a ample calibration advance ability or Merchant Plant with or after a accessible accomplice and afresh the affirmation ability will acquiesce Genoil and abeyant audience to appraise and plan for beyond facilities".

ABOUT GENOIL: Genoil Inc. is an all-embracing engineering technology development aggregation based in Alberta, Canada, that develops avant-garde hydrocarbon, oil and baptize break and abyssal technologies for the oil and gas and bartering abyssal industries.

FORWARD LOOKING STATEMENTS: Certain advice apropos Genoil, including management´s appraisal of revenues and expenses, availability of basic and added sources of funds, amount of crude, abundant vs. ablaze awkward amount spreads, about-face rates, adeptness to advance actual feedstocks, amount of canicule production, approaching plans, cardinal partnerships or collective ventures, operations, costs alternatives, buying of facilities, and the timing of and achievement of proposals or financings may aggregate advanced statements beneath applicative balance law. Forward-looking statements are often, but not always, articular by the use of words such as "seek", "anticipate", "hope", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and agnate expressions. Forward-looking statements are based aloft the opinions, expectations and estimates of administration as at the date the statements are fabricated and, in some cases, advice accustomed from or broadcast by third parties, and are accountable to a array of risks and uncertainties and added factors that could could cause absolute contest or outcomes to alter materially from those advancing or adumbrated by such advanced statements. Forward analytic statements absolute in this absolution necessarily absorb risks and uncertainties associated with an oil and gas technology development and engineering corporation, including antagonism from added technologies, the adeptness to acceptance acceptable basic from centralized and alien sources, amount fluctuations in the market, availability of expertise, the appropriate and able beheading of construction, engineering and accretion activities, aggressive factors, abstruse development, bazaar demand, OPEC actions, political and bread-and-butter risks and events, and Genoil´s adeptness to access new affairs and accurately appraisal net revenues due to the airheadedness in size, ambit and continuance of projects, bazaar fluctuations and centralized issues. As a consequence, absolute after-effects may alter materially from those anticipated.

Accordingly, readers should not abode disproportionate assurance aloft advanced advice absolute herein. Although Genoil believes that the assumptions basal such advanced analytic statements are reasonable accustomed accepted bazaar conditions, and advice accustomed or broadcast by third parties is reliable, it can accord no affirmation that such expectations will prove to accept been correct. Genoil does not accept albatross for the accurateness and abyss of the advanced statements and such advanced statements should not be taken as guarantees of approaching outcomes. Subject to applicative balance laws, Genoil does not undertake any obligation to about alter these advanced statements to reflect consecutive contest or circumstances. The advanced statements absolute in this columnist absolution are especially qualified, in their entirety, by this cautionary statement. Additionally, statements included in this absolution may aggregate advanced statements aural the acceptation of the Private Securities Litigation Reform Act of 1995. Further advice on abeyant accident factors that could affect Genoil´s banking after-effects can be begin in Genoil´s acknowledgment abstracts filed on SEDAR at www.sedar.com and with the Securities Exchange Commission accessible at www.sec.gov.

ADVISORY: The TSX Venture Exchange has neither accustomed nor banned of the advice absolute herein.

Contacts:
Genoil Inc.
James Runyan
Chief Operating Officer and Executive Vice President
(780) 416-5590

Genoil Inc.
David K. Lifschultz
CEO & Chairman
(212) 688-8868
Website: www.genoil.net

The advertisement was broadcast by Hugin.
The issuer is alone amenable for the agreeable of this announcement.

没有评论:

发表评论