The following chart indicates the principal projec
Post# of 4466
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Posted On: 11/26/2017 7:54:23 PM
The following chart indicates the principal project milestones and the Company’s currently estimated timetable for completing them. Completion of these milestones is dependent upon the consummation of required financing and the various risks described under “Risk Factors.” Further, completion of project milestones for the Large Refinery is dependent upon the commercial viability of the Distillation Unit. Accordingly, there is no assurance that this timetable or any individual project milestone will be achieved.
Project Milestones and Timeline
Fourth quarter of 2017
○
CDU (“Crude Distillation Unit”) TCEQ PERMIT ISSUED
○
CDU FRONT END ENGINNERING AND DESIGN (“FEED”) STUDY COMMENCED
○
CDU CRUDE SUPPLY AND OFFTAKE AGREEMENTS SIGNED
○
CDU FINANCING CLOSED
○
CDU CONSTRUCTION GROUND BREAKING
○
LARGE SCALE REFINERY FEED STUDY COMMENCED
○
LARGE SCALE REFINERY TCEQ PERMIT APPLICATION FILED
Project Milestones and Timeline
Fourth quarter of 2017
○
CDU (“Crude Distillation Unit”) TCEQ PERMIT ISSUED
○
CDU FRONT END ENGINNERING AND DESIGN (“FEED”) STUDY COMMENCED
○
CDU CRUDE SUPPLY AND OFFTAKE AGREEMENTS SIGNED
○
CDU FINANCING CLOSED
○
CDU CONSTRUCTION GROUND BREAKING
○
LARGE SCALE REFINERY FEED STUDY COMMENCED
○
LARGE SCALE REFINERY TCEQ PERMIT APPLICATION FILED
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