Synergy Technologies Establishes a Presence In Nigeria

Gas-to-Liquids Technology To Offer Viable Alternative to Flaring



Apr 04, 2001, 01:00 ET from Synergy Technologies Corp.

    CALGARY, Alberta, April 4 /PRNewswire/ -- Synergy Technologies Corp.
 (OTC Bulletin Board:   OILS) today said the company has leased office space in
 Lagos, Nigeria, and has retained staff in order to "aggressively pursue"
 existing opportunities for the application of Synergy's GTL technology, which
 converts natural gas to usable clean burning liquid fuels.
     "The extensive long-term practice of flaring gas in Nigeria's oil fields
 has had considerable environmental and economic consequences," said Thomas E.
 Cooley, Synergy's chief executive officer and chief technology officer.  "Our
 affiliation with Drake Oil, which has been promoting gas-to-liquid solutions
 in Nigeria since the early 1990's, can best represent our ability to provide
 the Nigerian government and its oil industry with a viable alternative to
 flaring."
     Mr. Cooley noted natural gas is a major source of energy and Nigeria's gas
 reserves are estimated to be up to ten times as large as its crude oil
 reserves.  Nigeria contains an estimated 190 trillion cubic feet (Tcf) of
 proven natural gas reserves (10th largest in the world).  However, due to the
 lack of gas utilization infrastructure, Nigeria flares approximately 75% of
 the gas that it produces and reinjects about 12% for enhanced oil recovery.
 Gas flaring contributes to both the production of acid rain and increased
 carbon emissions into the atmosphere.
 
     This document may include forward-looking statements as well as historical
 information.  Forward-looking statements include, but are not limited to,
 statements relating to the development of gas-to-liquids projects, heavy oil
 upgrading projects and interest in clean fuels.  When used in this document
 the words "anticipate," "believe," "estimate," "intent," "may," "project,"
 "plan," "should" and similar expressions are intended to be among the
 statements that identify forward-looking statements.  Although Synergy
 believes that their expectations reflected in these forward-looking statements
 are reasonable, such statements involve risks and uncertainties and no
 assurance can be given that actual results will be consistent with these
 forward-looking statements.  Important factors that could cause actual results
 to differ from these forward looking statements include the potential that
 commercial-scale applications of Syngen, GTL Plants and Heavy Oil Upgrading
 facilities will not achieve the same results as those demonstrated on a
 laboratory or pilot basis or that such plants will experience technological
 and mechanical problems, the potential that the Syngen and CPJ processes
 currently under development may not be successful, the impact on plant
 economics of operating conditions (including energy prices), competition,
 intellectual property risks, Synergy's ability to obtain financing and other
 risks described in the companies corporate information.
 
 

SOURCE Synergy Technologies Corp.
    CALGARY, Alberta, April 4 /PRNewswire/ -- Synergy Technologies Corp.
 (OTC Bulletin Board:   OILS) today said the company has leased office space in
 Lagos, Nigeria, and has retained staff in order to "aggressively pursue"
 existing opportunities for the application of Synergy's GTL technology, which
 converts natural gas to usable clean burning liquid fuels.
     "The extensive long-term practice of flaring gas in Nigeria's oil fields
 has had considerable environmental and economic consequences," said Thomas E.
 Cooley, Synergy's chief executive officer and chief technology officer.  "Our
 affiliation with Drake Oil, which has been promoting gas-to-liquid solutions
 in Nigeria since the early 1990's, can best represent our ability to provide
 the Nigerian government and its oil industry with a viable alternative to
 flaring."
     Mr. Cooley noted natural gas is a major source of energy and Nigeria's gas
 reserves are estimated to be up to ten times as large as its crude oil
 reserves.  Nigeria contains an estimated 190 trillion cubic feet (Tcf) of
 proven natural gas reserves (10th largest in the world).  However, due to the
 lack of gas utilization infrastructure, Nigeria flares approximately 75% of
 the gas that it produces and reinjects about 12% for enhanced oil recovery.
 Gas flaring contributes to both the production of acid rain and increased
 carbon emissions into the atmosphere.
 
     This document may include forward-looking statements as well as historical
 information.  Forward-looking statements include, but are not limited to,
 statements relating to the development of gas-to-liquids projects, heavy oil
 upgrading projects and interest in clean fuels.  When used in this document
 the words "anticipate," "believe," "estimate," "intent," "may," "project,"
 "plan," "should" and similar expressions are intended to be among the
 statements that identify forward-looking statements.  Although Synergy
 believes that their expectations reflected in these forward-looking statements
 are reasonable, such statements involve risks and uncertainties and no
 assurance can be given that actual results will be consistent with these
 forward-looking statements.  Important factors that could cause actual results
 to differ from these forward looking statements include the potential that
 commercial-scale applications of Syngen, GTL Plants and Heavy Oil Upgrading
 facilities will not achieve the same results as those demonstrated on a
 laboratory or pilot basis or that such plants will experience technological
 and mechanical problems, the potential that the Syngen and CPJ processes
 currently under development may not be successful, the impact on plant
 economics of operating conditions (including energy prices), competition,
 intellectual property risks, Synergy's ability to obtain financing and other
 risks described in the companies corporate information.
 
 SOURCE  Synergy Technologies Corp.