Blue Diamond Ventures Inc (BLDV)

[TASHI]

Great DD this weekend concerning SYNM.

Not sure if anything will fit here, but I looked at an article from Belize' Amandala Newspaper dated 06/29/2007. The portion of this statement that interested me has to do with "talks with the United States government to construct", or maybe locate a plant?

http://www.amandala.com.bz/index.php?id=5805

"Blue Diamond had previously announced that it has also entered into talks with the United States government to construct a much larger 50 million gallon bio-diesel plant and research facility in that country.

The company’s initial work in Belize would, evidently, serve as a pilot project for its larger scale operations.

The Government has not disclosed the nature of the Blue Diamond agreement, and what concessions, if any, the investor is being given."

Syntroleum's Catoosa Demonstration Plant constructed in 2003 has been "mothballed in 2006." This plant was constructed with the help of DOE along with Syntroleum and Marathon. While checking into this I may have notice some tax breaks for Syntroleum along the way. Just wondering if the DOE has some control over this 10 acre facility?

10-K on 03/17/2008:

"Item 2. Properties
We own a nominal two b/d pilot plant located on approximately three acres leased in Tulsa, Oklahoma. This lease expires in May 2022, and annual lease payments total approximately $9,000. This pilot plant was mothballed in 2006.

We previously leased 4,500 square feet of laboratory space, which had lease payments of approximately $45,000 per year through June 2011. We were released from our lease obligation in February of 2008 as the lab equipment was sold to Emerging Fuels Technology, LLC.

We previously owned a 24,000 square-foot corporate office and technology center located on approximately 25 acres in Tulsa. This facility was sold in March of 2008. The Company leased a new corporate facility in Tulsa, Oklahoma. The lease expires in 2011 and provides for payments of approximately $92,400 annually.

We previously leased office space in Houston, Texas, under a lease that expired in November 2007 and provided for payments of approximately $68,000 per year. This lease was not renewed in 2008 and all personnel are now housed in the corporate facility in Tulsa, Oklahoma.

We lease approximately 10 acres of land at the Port of Catoosa near Tulsa, on which we have constructed a nominal 70 b/d GTL demonstration plant as part of our clean fuels project with the DOE known as the “DOE Catoosa Project.” We added additional equipment to the project for our own work outside of the scope of the DOE Catoosa Project. This lease runs through May 2011 and the rent expense is approximately $47,000 annually. This demonstration plant was mothballed in 2006.

Scout is subject to contingent obligations under leases and other instruments incurred in connection with real estate activities and other operations. See Note 12 to our consolidated financial statements included in Item 8 of this Annual Report on Form 10-K."

http://www.syntroleum.com/tech_testing_facilities.aspx

http://petrochemical.ihs.com/news-06Q2/doe-ctl-projects.jsp

(jmo)