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Back up! 6.96 at 10:44 AM
Dynamic Fuels Management Committee approved $7.3 million for the procurement and installation of new hydro-isomerization catalyst at the Geismar facility.
The Company believes that now is an appropriate time to broadly review its strategic alternatives with respect to its renewable and GTL intellectual property and its ownership and licensing interest in Dynamic Fuels
News was few days ago http://ih.advfn.com/p.php?pid=nmona&article=58569430
Link back...I always smelled something fishy with the deliberate incompetence of management here
I bet the phone calls from investors were nonstop.
Amazing manipulation with the stock. Fortunately the Board PRed otherwise we were heading south big.
Company second quarter conference call on August 7, 2013
http://ih.advfn.com/p.php?pid=nmona&article=58569430&symbol=SYNM
Company believes that now is an appropriate time to broadly review its strategic alternatives with respect to its renewable and GTL intellectual property and its ownership and licensing interest in Dynamic Fuels.
Agreed- keeping a close eye. Didn't see were they ever stated the plant back up... and now exploring LTG.
Red merle 6 yrs old -rescued 5 yrs ago. Has been wowing us ever since.
This ain't right. Something is up.
Red tri female, 18 months, agility trained and knows a ton of tricks. Abbey. Smartest dog I ever had! I will never get another breed! Thinking of getting another - blue merle.
Real dogs don't have tails!
Well- it is still above my avg. but DANG!!
You have Aussies?
I concur. Don't know the reason, but I'm guessing we will.
It must have been a material event of some sort, big enough to effect share price. Probably playing it safe with the SEC, is my guess.
https://en.wikipedia.org/wiki/Form_8-K
I still dont understand why they PRed this...
- Are they legally forced to do that? I dont see the reason
- If it is just because of their free will... I dont see it either
Maybe I am missing something!!!
7.32
Call it record keeping of this going up!
From 8-K dated July 9th - missed this - my bad.
Item 8.01 Other Events.
Following several months of negotiations, on July 9, 2013, Syntroleum Corporation ("Syntroleum" or "we") entered into a memorandum of understanding ("MOU") with a
U.S. based oil and gas exploration and production company to investigate the joint development of one or more 4,000 to 5,000 barrel per day natural gas to liquids ("GTL")
plants integrated into producing natural gas fields.
Under the terms of the MOU, we and the counterparty to the MOU agree to fund a detailed feasibility study and business plan regarding the building of a GTL plant at a site to
be finalized as part of the feasibility analysis. The business plan is expected to take 9 – 12 months to complete and thereafter it is envisioned the companies will negotiate
definitive agreements for construction of the GTL facility through a joint venture entity. In the event that a joint venture entity is formed, it is envisioned that the counterparty
to the MOU will contribute gas acreage and reserves and Syntroleum will contribute its GTL technology.
We believe that projects integrating gas reserves with a GTL facility have a number of advantages which include reserve and pricing security, reduced operating expense and
working capital requirements, and field to plant optimizations. Additionally, we believe integrated projects will have added flexibility in product sales as a regional facility can
offer higher netback prices in local fuels markets.
Rumor? I would say rather on news, though it was news no news
News is no news, they are only evaluating to do something. We all have to do list.
Could be good, or bad. I'm wondering why they felt is was nessesary to PR. Shouldn't this be an ongoing task for any company?
Nice news though actually they are not disclosing much!!!
Syntroleum Corporation to Explore Strategic Alternatives
TULSA, Okla., July 17, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation (Nasdaq:SYNM) announced today that its Board of Directors is evaluating strategic alternatives to enhance value for the shareholders of the Company related to its renewable and natural gas-to-liquids businesses.
There can be no assurances as to whether any particular strategic alternative for the Company will be recommended by the Board of Directors or undertaken or, if so, upon what terms and conditions. The Company does not intend to disclose developments with respect to the progress of its evaluation of any strategic alternatives until such time as the Board of Directors has approved a transaction or otherwise deems disclosure appropriate.
Piper Jaffray & Co. is serving as exclusive independent financial advisor to assist the Board of Directors in the evaluation of possible strategic alternatives.
Never mind!?!
Next leg up should run us over $10
Good to see long term penny investment go up for once, hope to this does 9. to 10. next three six months. Few new engines run on Bio fuel will be out by 2014 Cyclone Engine will be the one use no oil runs on anything that burns
Syntroleum Corporation rules!. Been hard road last few years for SYNM
Syntroleum Asserts Second Singapore Patent Against Neste
http://finance.yahoo.com/news/syntroleum-asserts-second-singapore-patent-153000419.html
Lol, give it a couple (more) months.
"Nice, now all we need is start-up of this RIN generating machine."
Do we dare hope?
Yes, you have my attention.
help me out here... any pipedream company out there popped on trumped up non-GAAP positive numbers even if the GAAP numbers were worse than prior quarter or prior year because they beat "expectations", many of them with stiff insider selling.
On the other hand SYNM shows a real profit and a path forward and drops??
Where is my confounded truck?
SYNM, Earnings release- Syntroleum Corp (NASDAQ: SYNM) reported Q1 EPS of $1.15, versus $0.20 reported last year.
TULSA, Okla., May 3, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation (Nasdaq:SYNM) today announced
financial results for the three months ended March 31, 2013.
Highlights
Syntroleum's net income was $11.0 million or $1.15 per share for the three months ended March 31,
2013, compared to a net loss of $1.9 million or $0.20 per share for the corresponding period in
2012.
The financial statements for all prior periods have been retroactively adjusted to reflect the
April 11, 2013 one-for-ten reverse stock split of the Company's common stock which allowed the
Company to regain compliance with NASDAQ's minimum price Marketplace Rule as of April 26, 2013.
For the quarter ended March 31, 2013, the Company reported an operating loss of $2.0 million
resulting from total revenues of $899 thousand and operating expenses of $2.9 million.
Equity in earnings of Dynamic Fuels for the quarter ended March 31, 2013 is $6.7 million which
includes $12.6 million in gains representing our portion of the retroactive reinstatement of the
$1 tax credit for 2012, partially offset by $5.9 million in losses resulting from our share of
Dynamic Fuels' operating results for its first quarter ended December 31, 2012. Due to the
material impact of the retroactive reinstatement of the $1 tax credit, we are reporting it in the
current quarter rather than on a three month lag basis which is our normal accounting practice.
For Dynamic Fuels' quarter ended December 31, 2011, we reported a loss from Dynamic Fuels of $830
thousand.
Income from Discontinued Operations for the quarter ended March 31, 2013 includes $5.8 million in
proceeds from the sale of our nominal two b/d pilot plant in Tulsa, Oklahoma and $603 thousand
from the previously accrued asset retirement obligations.
As of March 31, 2013 Syntroleum's available cash position was $14.9 million. On April 12, 2013 we
received $9.0 million in refunds from the IRS related to the reinstatement of the $1 tax credit
retroactive to 2012 resulting in total cash of approximately $23.9 million.
During the quarter ended March 31, 2013, Syntroleum and Tyson each made additional equity
contributions of $1.7 million and working capital loans of $4.0 million to Dynamic Fuels to fund
operations to maintain the Geismar Plant in standby mode.
Our conference call will be held on Wednesday, May 8, 2013, at 10:00 a.m. Central time (11:00 a.m.
Eastern). A webcast of the call will be available via the Internet by accessing www.syntroleum.com
http://www.globenewswire.com/newsroom/ctr?d=10031365&l=10&a=www.syntroleum.com&u=http%3A%2F%2Fwww.syntroleum.com%2F
. Listeners should allow a few minutes for registration into the web site. To participate in the
teleconference, investors should dial 1-877-317-6789 about 10 minutes before the start time and
reference the Syntroleum conference call. International callers should dial 1-412-317-6789. A
replay of this conference call will be available on the web site under the Syntroleum Investor
Relations tab.
For additional information see the Company's Form 10-K for the year ended December 31, 2012, filed
with the SEC on Friday, March 15, 2013. The 10-K is available through the Investor Relations
section of the Company's Web site, www.syntroleum.com
http://www.globenewswire.com/newsroom/ctr?d=10031365&l=11&a=www.syntroleum.com&u=http%3A%2F%2Fwww.syntroleum.com%2F
.
About Syntroleum
Syntroleum Corporation owns the Syntroleum Process for Fischer-Tropsch (FT) conversion of
synthesis gas derived from biomass, coal, natural gas and other carbon-based feedstocks into
liquid hydrocarbons, the Synfining Process for upgrading FT liquid hydrocarbons into middle
distillate products such as synthetic diesel and jet fuels, and the Bio-Synfining technology for
converting animal fat and vegetable oil feedstocks into middle distillate products such as
renewable diesel and jet fuel using inedible fats and greases as feedstock. The 50/50 venture -
known as Dynamic Fuels - was formed to construct and operate multiple renewable synthetic fuels
facilities, with production on the first site beginning in 2010. The Company plans to use its
portfolio of technologies to develop and participate in synthetic and renewable fuel projects. For
additional information, visit the Company's web site at www.syntroleum.com
http://www.globenewswire.com/newsroom/ctr?d=10031365&l=13&a=www.syntroleum.com&u=http%3A%2F%2Fwww.syntroleum.com%2F
Forward-Looking Statements
This document may contain forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, as well as historical facts. These forward-looking statements
include statements relating to the Fischer-Tropsch ("FT") process, Syntroleum Process, 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 (hereinafter
"Technologies"), plants based on these Technologies, anticipated cost and schedule to design,
construct and operate plants, expected production of fuel, obtaining required financing for these
plants and other activities, the value and markets for products, testing, certification,
characteristics and use of plant products, the continued development of our Technologies, use of
proceeds from our 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 2012 Annual Report on
Form 10K.
"Syntroleum", "Synfining", and "Bio-Synfining" are registered as trademarks and service marks in
the U.S. Patent and Trademark Office.
SYNTROLEUM CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2013 2012
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 14,935 $ 15,909
Restricted cash 762 725
Accounts receivable 123 134
Taxes receivable 8,986 --
Accounts receivable from Dynamic Fuels, LLC 85 252
Other current assets 213 237
Total current assets 25,104 17,257
PROPERTY AND EQUIPMENT
Property, plant, and equip, 448 446
Accumulated depletion, depreciation and amortization (395) (388)
Total Property & Equipment, net 53 58
INVESTMENT IN AND LOANS TO DYNAMIC FUELS, LLC 41,798 38,407
OTHER ASSETS, net 1,031 1,023
Total Assets $ 67,986 $ 56,745
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
*** STORY TRUNCATED due to excessive length. ***
At least you got a refund. I do most of my trading in an IRA account & took some premature withdrawals for other things in 2012:(
Nice move today but could need a plant restart or other news for some continuation.
Dynamic Fuels Plant Manager and Process Engineer job postings no longer up so should just be a matter of time. Something other than restart will likely be the real catalyst.
A little better than my IRS refund. Use it wisely!
Thank you for your reply heber ... on watch (STILL) :)
New SA piece
http://m.seekingalpha.com/article/1339451
Plant restart will get this moving, assuming it ever happens.
Details yet to come, I presume.
Pentagon, Dept of Energy, Dept of Agriculture all committed to biofuels in the military. Drop-in fuel makes this one unique.
If one looks over all past military fuels, the largest orders being DF related, there is a pattern.
They have been vetted. Others still requiring testing.
Agriculture Secretary Vilsack and Transportation Secretary LaHood to Renew Agreement to Promote Renewable Fuels in the Aviation Industry
WASHINGTON, April 12, 2013— On MONDAY, April 15, at 2:10 p.m. EDT, Agriculture Secretary Tom Vilsack and Transportation Secretary Ray LaHood will announce that the U.S. Department of Agriculture and Federal Aviation Administration, along with other partners, are extending an agreement to help develop viable renewable fuels for the aviation industry. Secretary Vilsack and Secretary LaHood will both deliver remarks at the 2013 Advanced Biofuels Leadership Conference.
This extension follows the initial success of the 2010-2012 “Farm to Fly” partnership to strengthen research and capacity building for aviation biofuels. The development of viable aviation biofuels builds on President Obama’s commitment to develop clean energy technology that reduces America’s dependence on foreign oil, strengthens the rural economy and supports good jobs here at home.
Nice, now all we need is start-up of this RIN generating machine.
Between management/insiders & Tyson, we have about 15% ownership. Less than 10 million outstanding now.
Won't take more than a couple institutions to get it going as it's not far off cash value & Geismar facility will be a cash generator for 2012 if the bugs really are worked out. Seeing is believing- they need to get the ball rolling as they're lacking credibility here.
Anything can happen but I really like it here.
heber, waited for R/S due to AMTRD lock up after ...
You are all over this one for some time ... got a link to the actual float now.
Looked, got conflicting #'s
Thanks ...
UP 900% sweet! ;)
Doomsday, Christmas, or my birthday? So anxious I can't sleep:)
Not really though. It's all about the RINjamins baby.
Share structure is secondary (my opinion).
RINs getting increased attention...this guy sees 280% upside for SYNM based solely on Dynamic Fuels.
http://seekingalpha.com/article/1331471-renewable-energy-group-and-syntroleum-alpha-generation-and-intelligent-way-to-hedge-rin-risk-of-independent-refiners
And 2013 D4 RINs hitting $1 Tuesday...
Zero Hedge: Why RINs Could Be 2013's 4-Letter Word for Gas Prices
http://www.zerohedge.com/news/2013-04-08/why-rins-could-be-2013s-4-letter-word-gas-prices
Worth noting that D4 RINs can be substituted for D6 RINs. I guess this only matters if Dynamic Fuels is producing.
D4 RINs now climbing into mid .90's. Multiply by 1.7 and add $1 tax credit and I am dumbfounded by lack of production.
Feedstock prices steady, even dropping.
Well I liked it at .40 so I'm head over heels at .35.
It's very hard to nail the bottom exactly. None of us expected such a delay in start-up after tax credit approval. Frustrating Q1 but really liking the prospects for the rest of the year.
Can't be too much longer IMO & you can bet we will see some sharp moves when this is a "low floater".
From Barry Ritholtz:
Or maybe this one?
I am not in agreement with the timing for this R/S.
They had until June. They should have at least restarted the plant & collected the tax credit refund first (paperwork submitted and just waiting for the money now). Would have been nice to see the impact from some positive events, then R/S if necessary.
IR gave me a load of BS when pressed for an explanation, saying these things take time, they didn't want to risk waiting until the last minute, etc.
Something doesn't smell right. Tyson publicly states they can provide the feedstock for five plants yet it's taking this long to agree on the economics for restarting this one?
Dynamic Fuels should be running at full production...subsidies are near $2.50 per gallon when factoring in $1 blender tax credit, .50 c Naphtha credit, 1.7x D4 RINs, & 1.7 x Naphtha RINs. That's a lot of incentive to produce but WTF is taking so long?
Management awarding themselves large share-based bonuses but doing absolutely nothing to impact share price makes me think they're holding out for a bigger payout down the road.
Tyson has been the only 5+% owner for well over 3-years, and the 3-year testing period as it pertains to the NOL's (tax credits) & change of ownership has passed. If I'm not mistaken, they could now acquire SYNM, including the $360 million in NOL carryforwards, without limiting the tax assets.
It sounds far-fetched...but I can't explain management seeming to deliberately suppress the share price for any other reason. If not Tyson, maybe another player that Tyson would prefer to be partnered with (NOL's still valuable even if a change of ownership due to being so large).
While painful, I am adding down here. I really believe this is calculated and management isn't truly this incompetent. I also think it's a convenient excuse to be able to attribute start-up delays to negotiations with a JV partner.
All this being said, SYNM is more than just the Dynamic Fuels JV.
Upon receipt of tax credit, this is trading at little more than cash. Scandle refers to cash burn...they have minimal cash burn. They literally just need to produce to be profitable, possibly $1+ per gallon.
Something is going on behind the scenes...why else would they be so eager to get the RSB certification if not planning to produce? Also, cash infusion to DF of $2.3 million in mid February by each partner tells me they're getting it ready. Problem is...with R/S now planned, market may not care too much.
Dynamic Fuels has some job postings up, including for a plant manager. Maybe my theories are all just over-thinking and they really are just so incompetent that no one there can get things rolling.
As I'm sure you can tell, I could go on and on here. I have only seen such deliberate "incompetence" like this in the past, EDGR, and they were later acquired for a price that seemed like a nice premium at the time but really not that special considering a multi-year beatdown on share price like SYNM has seen. They were turning the corner, just like SYNM should be, which made them an attractive target before market woke up.
Good luck to you.
put a different way, I have a bid in for more.
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http://data.cnbc.com/quotes/SYNM
Syntroleum can be reached at:
Syntroleum Corporation (Corporate Office)
5416 S. Yale Ave.
Suite 400
Tulsa, OK 74135
Telephone: (918) 592-7900
Facsimile: (918) 592-7979
Web Address:
http://www.syntroleum.com
Our current shares outstanding is 81,683,000.
Thank you.
Amanda Burns
Controller
Syntroleum Corporation
5416 S Yale, Ste 400
Tulsa, OK 74135
P: 918-764-3480
F: 918-592-7979
From the website:
Syntroleum Corporation has come a long way since its founding in 1984 by Kenneth L. Agee. The company’s synthetic fuel technologies make it a recognized force in the renewable fuels, biomass-to-liquids (BTL), gas-to-liquids (GTL), and coal-to-liquids (CTL) industries, and is one of the most vocal about introducing the possibilities of these technologies to the world.
Syntroleum’s recent announcement regarding its renewable synthetic fuels venture with Tyson Foods is the latest example of its leadership in the industry. Together with Tyson, Syntroleum will construct the world’s first renewable synthetic fuels plant utilizing its Bio-synfining™ technology and Tyson sourced agricultural feedstock. With an investment of over $150 million and the creation of over 300 jobs, the initial 75 million gallon per year plant will not only have a positive impact on the local economy where the plant is located, but will contribute much needed incremental clean and environmentally friendly fuel to our nation’s transportation fuel supply.
Biomass also continues to emerge as a significant potential source for clean, renewable fuels. The USDA and the DOE estimate that over 1.3 billion dry tons per year of biomass can be produced—enough to produce biofuels to meet more than one-third of the current demand for transportation fuels. Syntroleum’s Fischer-Tropsch and Bio-synfining™ processes are ideally suited to produce ultra-clean, renewable fuels from biomass, and the company is pursuing projects in this area.
Syntroleum’s Fischer-Tropsch GTL technology allows it to produce gas onshore and in marine environments. Our process realizes the advantages of building a plant on a much smaller footprint, thus enabling economic development of fields in the one-to-three trillion cubic feet range, many in remote locations. Our process also represents a solution to flaring. Because stranded natural gas is often associated with oil production, producers typically flare this valuable asset to get to the crude, burning off as much as 10 billion cubic feet each day. The practice is not only wasteful, it is the target of worldwide environmental laws designed to reduce global warming.
Our Fischer-Tropsch technology can be applied to coal as well. According to BP Statistical Review of World Energy 2006, identified world coal reserves in 2005 were approximately 909,064 million tons. The largest coal reserves are located in the United States, Russia, China, India and Australia. Much of these reserves are difficult and expensive to utilize because of environmental concerns and distance to traditional power markets. By applying the Syntroleum Process, these underused coal resources could be converted to ultra-clean transportation fuels, thus providing a new source of clean energy and reducing dependence on oil from politically unstable regions.
With 160 patents issued and pending, Syntroleum’s renewable fuels, BTL, GTL, and CTL technologies represent the perfect fit to actively pursue synthetic fuels projects. Syntroleum is in the right place at the right time to provide high-performing, ultra-clean fuels to global markets.
Additionally, Syntroleum has assembled some of the world’s best technical talent to work on its team. In their commitment to continually improve the process, they have achieved a 20% increase in Fischer-Tropsch (FT) reactor capacity, a significant increase in wax filtration performance and the development of a new generation attrition-resistant FT catalyst. Their work with the company’s Product Upgrading process has also spawned the commercial introduction of Syntroleum’s Bio-synfining™ technology for the production of ultra-clean and environmentally friendly renewable synthetic fuels.
Today’s substantially higher oil prices, the abundance of biomass and renewable feedstock supply, the need to monetize the world’s stranded gas and coal reserves, and the growing urgency for clean-burning fuels establish world-scale opportunities for Syntroleum. We’re offering an energy solution whose time has come.
Great Video from the AirForce test of Syntroleum's Jet Fuel
http://s302.photobucket.com/albums/nn88/BioMoneyMan/?action=view¤t=AFB52FuelTest.flv
10/27/2009 - WRIGHT-PATTERSON AIR FORCE BASE, Ohio -- In support of the Department of Defense Assured Fuels Initiative for securing domestic fuel sources to meet the military's energy needs, Air Force Research Laboratory and the Southwest Research Institute conducted tests of the first biologically based synthetic jet fuel to undergo detailed investigation. The ultimate advantage sought through the use of this bio jet fuel or similarly derived alternative is a reduced dependence on foreign petroleum sources with no loss of operational performance or reliability.
AFRL propulsion engineers supported the effort by joining SwRI in testing 600 gal of Syntroleum Corporation's aviation-grade renewable research fluid, dubbed R-8 for short. The synthetic fuel is derived from an animal/vegetable oil blend via the company's proprietary Bio-Synfining™ process. Initial physical property and T63 engine testing indicates R-8's performance as indistinguishable from that of S-8, Syntroleum's Fischer-Tropsch synthetic (paraffinic-kerosene-based) jet fuel that first flew in 2006 aboard the B-52. Additional, "fit for purpose" property, combustor, and fuel pump tests of R-8 are under way, with the product also entering the first stages of the MIL-HDBK-510 Alternative Fuel Certification Process.
The long-term plan directs that, beginning in 2010, Dynamic Fuels LLC (a Tyson Foods/Syntroleum joint venture) will produce 75 million gallons of alternative fuels targeting diesel, jet, and military markets. These synthetic fuel, naphtha, and liquefied petroleum gas products will be founded largely on R-8's biologically renewable animal/vegetable oil sources.
_______________________________________________________________________________________________________________________
In support of the Department of Defense Assured Fuels Initiative, AFRL engineers tested 600 gal of Syntroleum Corporation's R-8 synthetic fuel derived from an animal/vegetable oil blend. This effort is geared towards securing domestic fuel sources to meet military energy needs. Syntroleum produces R-8 using its proprietary Bio-Synfining process.
http://www.wpafb.af.mil/news/story.asp?id=123174617
_______________________________________________________________________________________________________________________
Quotes from Karen Gallagher interview...
"Fuel does NOT need to be blended, can be used as is directly in your
tank"
"Plant will be completed in the next couple of months"
"Air Force already certified fuel from our Bio-Synfining process"
http://feeds.newsok.tv/services/player/bcpid4659235001?bctid=50171292001
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