General Synfuels International Announces Formation Of Technology Fund For Oil Shale Development
KALISPELL, MT — Earth Search Sciences, Inc. (OTCBB:ESSE) today announced its subsidiary company, General Synfuels International (GSI) has formed Patriot’s Oil Shale Technology Fund L.P, a $10 million partnership of American capitalists, to complete funding of the Phase 1 construction of a full scale prototype oil shale plant under construction in Rock Springs, Wyoming. The goal of this research and development type partnership is to prove the patented “Omnishaleã” technology GSI has developed can recover large amounts of oil and gas products from American oil shale and oil sands in an inexpensive, economically viable and environmentally safe manner.
GSI has engaged a boutique investment bank, NBT Capital Partners LLC, and its Chairman/Founder Tobin Smith to lead the Fund. Mr. Smith, a noted financial analyst, states, “NBT Capital Partners was formed to help finance transformational American companies, like GSI, dedicated to extracting precious oil and gas reserves from the massively abundant oil shale and oil sands resources we have in America with an environmentally safe technology process. This fund will be an initial down-payment on an overall $50,000,000 equity/debt project finance program we are initiating to complete a full scale operational plant. Once we validate the production data of the Omnishaleã technology it is NBT Capital’s goal to assemble a series of high yield investment opportunities for maximum exposure and multi-plant production. This is a great opportunity for economic growth and job creation in the United States”.
An initial Private Placement of $2 million has been accepted by GSI/ESSI in funding related to the above project.
For more information on the Patriot’s Oil Shale Technology Fund L.P. contact Tobin Smith at 240-483-4629 or email to:
tsmith@nbtgroupinc.com
About Earth Search Sciences Earth Search Sciences, Inc., (ESSI) is a fully reporting public company (“ESSE” – OTC BB) headquartered in Kalispell, MT. The corporation is structured as a holding company with a number of subsidiary companies charged with developing advanced technology applications for the exploration and discovery of natural resources.
About General Synfuels International, Inc. (GSI) is dedicated to transforming fossil fuels development and moving the United States toward its goal of energy independence. We have developed and patented in-situ gasification technology “Omnishaleã” to recover oil and gas products from oil shale, tar sands and heavy oil which are abundant in North America. For more information, visit our website www.gsfuels.com.
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This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.
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