Genoil Inc GNOLF

RE: Hit a Wall?

[eliner63]

Taurus69 stated "Surge has to recoup the cost of the upgrader before GNO gets a dime (as I read the NR)" David Lifschultz, Chairman and CEO of Genoil stated, "This transaction shows Genoil is executing on its plan to partner with tar sands owners to help them realize greater profitability for their reserves. Surge is the lead Operator of the Sawn Lake Alberta field which is estimated to contain 820 million barrels of heavy oil in place which the Genoil process will be working on converting to light oil. With current spreads between heavy and light oil well over $20 per barrel this project will be very profitable for both parties. Consistent with prior transactions, Genoil will receive 30% of the net revenue stream associated with converting the oil." Is there another news release that I don't know about? Surge stock dropped and so did Genoil's, by the amount one would think everything is riding on Surge. Anyhow, there is no reason Surge can't be generating cash and more customers in less than 2 years. Existing pipeline infrastructure is nearby, wells are shallow and can be punched out quickly. Of course wait until Monday's conference call.