Genoil Inc GNOLF

Energy Oil & Gas Equipment & Services

Genoil Inc. is a 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.

OTCPK:GNOLF - Post by User

Genoil Inc

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Post by Jackroyon Jan 15, 2003 6:16pm

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Post# 5766470

Project Finance Problems

Anyone with any experience in project finance will recognize that the existance of new technology being deployed is a major risk component. Not only is it unfinanciable, board of directors would not allow management to take the risk. Why would management take the risk also - they are there for a short period of time, which must be successful for them to capitalize. For this to happen, they need to prove out the technology in stages - 6 barrels, 100 barrels, 1000 barrels 25000 barrels. This process will take ten years. By then the company will be bankrupt.

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