Genoil Inc GNOLF

Energy Oil & Gas Equipment & Services

Genoil Inc. is technology-based company engaged in the development of technologies relating to the oil and gas industry. The Company specializes in heavy-to-light oil technology, oil field development and exploration and production. It is a provider of hydro conversion fixed-bed technology for the upstream and downstream oil and gas industry. It is also working with Chinese policy banks and Chinese companies to provide, project financing, drilling, production, and processing services to the oil and gas industry. Its technology consists of Genoil Hydroconversion Upgrader (GHU), which converts sour (high sulfur), heavy hydrocarbon feed stocks into lighter oil with higher quality distillates for conventional refining. The Company is also engaged in other technologies, such as oil upgrading and recycling, water purification port technologies, well testing, and sand cleaning. The Company markets its technology to customers in the Middle East, Russia and China.

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Genoil Inc

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Comment by dondonon Jan 27, 2006 11:37am

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Post# 10257117

RE: NEWS

The debenture's conversion and exercise prices are subject to adjustment for certain changes to Genoil's share capital and in the event of specified dilutive transactions. Further, the holding period requires that the security must not be traded before May 24, 2006. In connection with the issuance of the convertible debenture, Genoil has additionally granted 426,000 common share purchase warrants exercisable for a term of 6 months at $0.85 Cdn per share

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