FIELD PILOT CONSTRUCTION, OPERATION AND … · CFO Anton Dammer Senior Vice President ......

FIELD PILOT CONSTRUCTION, FIELD PILOT CONSTRUCTION,

OPERATION AND RESULTSOPERATION AND RESULTS

The The EcoShaleEcoShale ProcessProcess

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29th Shale SymposiumThe Colorado School of Mines

Dr. James PattenDr. James PattenRed Leaf Resources, Inc.Red Leaf Resources, Inc.

Dr. James BungerDr. James BungerJWBAJWBA

Mr. Matthew GreeneMr. Matthew GreeneRed Leaf Resources, Inc.Red Leaf Resources, Inc.

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The Red Leaf LeaseholdsThe Red Leaf Leaseholds

Assembled 16,868 acres of Utah state oil shale leases

USGS estimates approximately 1.5 billion barrels in place

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The TeamThe TeamLeading Team of Oil Shale ExpertsLeading Team of Oil Shale Experts

Dr. James Patten

President/CEO

Matthew Greene

CFO

Anton Dammer

Senior Vice President

Dr. Laura Nelson

Vice President

Les Thompson

Field Operations

Lance Lehnhof

General Counsel

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The TeamThe TeamExpert AdvisorsExpert Advisors

Dr. James Bunger

Consultant to DOE, Governor’s Technology Advisor for the State of Utah, and several multi-national energy companies

James Holtkamp

Holland & Hart, Partner - Environmental

Steven Christiansen

Parr Brown Gee & Loveless - Environmental

Wayne Western

Thorpe, North & Western - Intellectual Property

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The Technology

IN-SITU

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IN-CAPSULEAt surface

RETORTSAt surface

Extraction while moving

• Mined• Rubblized• Impounded• Handle Only Once• At Mine Face• Stationary Extraction

1.ATP Process2.Petrobras – Brazil3.Kivitar4.Galoter5.Fushun

The TechnologyThe EcoShale Process extracts from a mined

heap of ore in an impoundment

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• Above Surface• Mined• Rubblized• Impounded• Gas Convection Heating

• Underground• In-Situ• Subterranean• In-Formation

The TechnologyThe EcoShale In-Capsule Process

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History

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The Products

• Prompt Oil – produced as liquid at the roasting temperature – 29 A.P.I gravity, slightly heavier than middle distillate + some middle distillate, near zero fines (entrained solids), very low acid number

• Condensate Oil – condensed from produced hydrocarbon gas, 39+ A.P.I. gravity, middle distillate + some naphtha, zero fines, very low acid

• Synthetic Natural Gas – non-condensable hydrocarbon gas, generally less than C5

• High Molecular Hydrogen Production

• Coke retained in the parent ore; non-leachable

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RLR Field PilotOil Chemistry

Test Prompt Oil Condensate Shale Oil

API Gravity (60/60) 28.4 39.5

Pour Point (ºC) 30 -17

TAN (acid No.) (mgKOH/g sample) 1.85 .29

Oxygen (wt%) 1.824 1.459

LECO Sulfur (wt%) 0.53 .052

CARLO ERBA C (wt%)H (wt%)N (wt%)

85.412.621.079

85.15812.9711.228

PONA Arom

OlefinPar/Np

34.7065.3

29.515.355.2

Sediment (vol%) 0.3 0

Sulfated Ash (wt%) <0.005 <0.005

Heat of Combustion

Gross (BTU/lb), (MJ/kg)Net (BTU/lb), (MJ/kg)

18,848, 43.8417,697 41.16

18,892, 43.9417,709, 41.19

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EcoShale In-Capsule Process Overview

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Economics

EcoShale CAPEX+OPEX

is $20.31 per barrel for a 30,000

barrel per day project not including transportation

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Summary

• Best surface oil shale resource in USA – est. 1.5 billion barrels

• Best available technology – First to market in USA

• Production cost with mild upgrading – est. $20.31/bbl

� 1 bbl oil equivalent energy input for 10 bbl oil equivalent output

• Ten months to design, build and operate field pilot

• 230+ Procedures written, trained and implemented

• 100% MSHA, OSHA compliant

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Summary

• Zero injuries of any kind

• 700+ Thermocouples, full data set of thermal history for pilot

• Control system and control software written, developed and validated; used to plan and adjust pilot operations; currently in use for production design

• Initial produced oil analysis completed, additional analysis and testing in progress

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Summary

• Environmental impact – low emissions, no process water, rapid reclamation

� Rapid reclamation as part of the process

� Impermeable clay liner protects ground water

• Enables enterprise projects worldwide – lower CAPEX and OPEX than Canadian oil sands projects

• World-class management team

• World-class consultants and partners

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FIELD PILOT SITEFIELD PILOT SITEVernal, UtahVernal, Utah

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September 2007 1818

September 2007 1919

February 2008 2020

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Dr. James PattenDr. James PattenPresident & CEOPresident & CEO

801.633.4635801.633.4635jpatten@ecoshale.comjpatten@ecoshale.com

Matthew GreeneMatthew GreeneCFOCFO

801.878.8100801.878.8100mg@ecoshale.commg@ecoshale.com

www.ecoshale.com