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Show I pciraho successfully tests Moroccan oil shaleoperation . development of Moroccan oil TntSg United States technology closer to realitiy according sramnnouncement by Paraho )"Spment Corporation, a leading oil Kechnology company. .mder a series of contracts TSkco's Bureau of Research, Ition and Mining (BRPM), completed the first large 1 fndd operation demonstrating the : ,! y of Paraho's patented oil processing technology on i Ln shale. Field operations using ' f Paraho's retorts were earned f the Anvil Points OU Shale Mine Retorting Facility near Rifle, SJ, which is leased by the Company JS'the Department of Energy. , m making the announcement, Harry hS Jr., Paraho's President SSTlwitlv. Officer stated !5Le most recent successful I 'ations on Moroccan shale further ! fl (he versatility of the Paraho SSologyon oU shales from all over he world. Paraho's technology, un-"gtched un-"gtched domestically, is now proving 111 on a world wide basis." These Zal operations were witnessed by toitaries representing Morocco, oil industry representatives, and Vice Presidents and staff members of the l'S. Synthetic Fuels Corporation. f John Jones, Jr., President of Paraho's overseas subsidiary, which f! was responsible for the Moroccan shale I kstsaid, "All field test objectives were dearly met during the processing of '- jjmost 200 metric tons of the foreign I jhale. Even though the shales showed distinct differences in properties, the T Paraho retort performed as specified." The oil produced from these tests will .; be analyzed in a Pilot Plant refinery k run in France under the management C; of the Moroccan government. ti The Moroccan shale tests are only ::;me of a series of programs , being ' -' conducted by Paraho on shales from all -'over the world. Recently, Paraho successfully completed two large field operations on shale from Israel. The Company has been contacted by representatives from eleven different countries, all having substantial oil shale deposits. Negotiations for additional ad-ditional foreign shale tests and proposals for foreign oil shale commercialization com-mercialization are pending. Along with Paraho's foreign shale work, the Company is continuing to advance the development of a domestic oil shale industry. Harry Pforzheimer said, "This year alone Paraho will conduct programs totalling over $12 million for the detailed design of a commercial retort module and a feasibility study of a multi-module commercial facility. Combining this with our previous work we have now spent almost $40 million to perfect and demonstrate the Paraho technology. Also, an additional $35 million program is being negotiated with the DOE and industry which will allow Paraho to complete all necessary steps to begin construction in 1982 of the Paraho-Ute 30,000 barrel per day commercial facility." This facility is being planned for Paraho's site approximately ap-proximately 40 miles southeast of Vernal, Utah. The objective is to be ready to begin construction of this multi-billion dollar facility as soon as the necessary financing has been arranged. Pforzheimer further said, "Paraho . has requested a loan guarantee from the DOE under the Non-Nuclear Act which is presently being reviewed. Paraho is preparing a similar request for financial assistance in response to a solicitation from the Synthetic Fuel Corporation." Since the early 1970's, Paraho has produced over 4,600,000 gallons of crude shale oil at the Anvil Points operation. This shale oil was produced in long continuous operations, with high yields, and under environmentally acceptable conditions. |