TULSA, Okla., March 19, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation (Nasdaq:SYNM) held its 2012 annual results conference call. The following summarize the highlights of the call:
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Current cash balance of $19 million
- Resolution of the key uncertainties facing its renewable diesel business
- $1 per gallon tax credit re-instated for 2013 and retro-active to 2012
- Tax incentives totaling $25 million between Dynamic Fuels and the owners
- RIN price recovery to the 80 cents level, which combined with the $1 tax credit and current commodity prices suggest a return to historical industry margins
- Anticipate restart of Geismar facility
- Positive factors impacting the demand for D4 Biomass Based Diesel RINS
- Commercially available D4 biomass based diesel, D5 advanced biofuel and D6 corn ethanol RINS, have moved to price parity
- Potential corn ethanol and advanced biofuel RIN shortfalls
- D4 biomass based diesel RINS can be used to meet D5 and D6 RIN requirements
- Adequate US blending capacity for biomass based diesel
- Growing optimism and clarity related to natural gas to liquids business
- Gas suppliers linking natural gas prices to end product prices significantly reducing the commodity risk
- In conjunction with natural gas producers, developed basin specific integrated GTL plant models. Current efforts on narrowing focus to project specific development including drilling, production, gathering, GTL conversion and product marketing. We believe these economics to be attractive.
About Syntroleum (Nasdaq:SYNM)
Syntroleum Corporation owns the Syntroleum® Process for Fischer-Tropsch (FT) conversion of synthesis gas into liquid hydrocarbons, the Synfining® Process for upgrading FT liquid hydrocarbons into refined petroleum products, and the Bio-Synfining® technology for converting renewable feedstocks into drop-in fuels. Syntroleum has a 50% interest in Dynamic Fuels, LLC, which operates a 75 million gallon per year renewable fuels facility located in Geismar, Louisiana utilizing its Bio-Synfining® technology. For additional information, visit the Company's web site at www.syntroleum.com.
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This document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as well as historical facts. These forward‑looking statements may include statements relating to the Fischer-Tropsch ("FT") Process, Syntroleum® Process, the Synfining® Process, and related technologies including, gas-to-liquids ("GTL"), coal-to-liquids ("CTL"), and biomass-to-liquids ("BTL"), our renewable fuels Bio-Synfining® Technology, plants based on the Syntroleum® Process and/or Bio-Synfining®, anticipated costs to design, construct and operate these plants, the time of commencement and completion of the design and construction of these plants, expected production of fuel, obtaining required financing for these plants and our other activities, the economic construction and operations of Fischer-Tropsch ("FT") and/or Bio-Synfining® plants, the value and markets for products, testing, certification, characteristics and use of Plant products, the continued development of the Syntroleum® Process and Bio-Synfining® Technology and the anticipated capital expenditures, expense reductions, cash outflows, expenses, use of proceeds from out equity offerings, anticipated revenues, availability of catalyst, our support of and relationship with our licensees, and any other forward-looking statements including future growth, cash needs, capital availability, operations, business plans and financial results. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should" and similar expressions are intended to be among the statements that identify forward‑looking statements. Although we believe that the expectations reflected in these forward‑looking statements are reasonable, these kinds of statements involve risks and uncertainties. Actual results may not be consistent with these forward‑looking statements. Syntroleum undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. Important factors that could cause actual results to differ from these forward-looking statements are described under "Item 1A. Risk Factors" and elsewhere in our 2011 Annual Report on Form 10K.
® "Syntroleum" is registered as a trademark and service mark in the U.S. Patent and Trademark Office.