Franklin Mining (OTC: FMNJ)
FMNJ is a Mining and Gas-To-Liquids Development Firm with significant operations in Bolivia.
Gas-to-Liquids is a promising Technology that is rapidly gaining worldwide acceptance.
Gas-To-Liquids (GTL) investment commitments by the world’s largest oil companies appear likely to expand significantly over the next decade. Virtually all major oil production companies including ExxonMobil, Shell, ConocoPhillips and Chevron have announced GTL programs that are either in place or soon will be in place.
It is against this backdrop that Bolivia’s YPFB, in a joint venture with FMNJ’s Franklin Oil & Gas, Bolivia S.A., has confirmed a plan to construct and operate a single plant capable of generating an almost immediate end to Bolivian reliance on imported diesel fuels.
Franklin will provide the project’s technology and management skills and arrange financing of the plant’s design and construction costs, while partner YPFB will provide the natural gas. In addition, YPFB will provide a sales, marketing and distribution infrastructure for diesel fuels.
Basic GTL technology dates to 1923 when two German scientists (Franz Fischer and Hans Tropsch) invented a process for converting natural gas to a hydrocarbon which could be upgraded to petroleum products. GTL-produced diesel fuel significantly reduces emissions resulting in less pollution and cleaner air.
With Bolivia holding Latin America’s second largest natural gas reserves, the increased natural gas availability together with an increasing worldwide demand for GTL-produced fuels provides the YPFB and FMNJ joint venture with a promising export market.
http://biz.yahoo.com/iw/060531/0132218.html
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