President Bush says that the USA should be aggressively building refinery capacity, however new refineries must clear very high environmental hurdles. This small independent refinery in Utah is already permitted and needs funding for a planned major expansion. It is located in a remote area away from population centers and it is the closest refinery to the major oil reserves in the oil sands of Eastern Utah. These proven oil sands will be developed – it is only a matter of time. The other refineries in Utah are owned by major oil companies (Chevron, Phillips, Flying J, Sinclair) and are all located in the Salt Lake City metropolitan area.
This independent refinery is strategically located adjacent to a rail line, a pipeline, and it is just off Interstate 70 between Salt Lake City and Denver, Colorado. The near-term focus, following refurbishment and the resumption of operations, will be to produce gasoline and diesel fuel. Later this refinery plans to upgrade its processing facilities, add a rail trans-loading facility and add the capacity to process heavy oil from the Eastern Utah Oil Sands. This Refinery has the potential to gradually expand into a major commercial refinery as the Utah Oil Sands become a major source of oil for the USA. This refinery seeks immediate capital infusion of $12,000,000 with a commitment for at least a second equivalent tranche six months later. Minimum participation is $120,000.
Please contact us at www.enex.com if you would like more information about this investment opportunity.
