Replies to post #888 on Genoil Inc. (GNOLF)

[gnolfinvestor]

Translation on IMP and Gnolf news release p.5+6 -June 18/19
Translation of the Mexican IMP and Gnolf : Sign IMP and Genoil agreement cooperation
They will develop projects for the improvement of heavy and extra heavy


oils Last May 24, Mr.Jos E. Garca Torres, legal representative of the

company, met at the Mexican PetroleumInstitute (IMP). company GenOil

Inc., and Dr. Fernando Castrejn Vacio, director of ProductTechnology of

the IMP, to sign a Memorandum of Understanding, with the objective

ofestablishing the cooperation guidelines between GenOil and the IMP,

to jointly generate new opportunities for improvement of heavy and extra

heavy crudes. The interest of the Memorandum includes the joint search

for business opportunities, the development of
potential investments in service projects, product scaling, the provision of technological services, consulting and specialized advice, the promotion of investment, specialized training and marketing of everything related to the processing of heavy crudes; as well as for the hydrotreating process. Dr. Jorge Ancheyta Jurez, manager, was present at this event of Products for the Transformation of Crude of the IMP and the engineer Mario Alberto Carren Rascn, by GenOil. The IMP participates with its capabilities in the improvement of heavy crudes and residues to produce high value enhanced crudes, with properties similar to those of light crudes, such as that of the IMP researchers group, directed by Dr. Jorge Ancheyta, who developed the technology HIDRO-IMP®, which has important economic and operational advantages on conventional technologies, and it is a very favorable option for the best use of heavy crudes. While GenOil Inc., a technology development company that has made significant advances in hydroconversion processes, is interested in collaborate with the IMP, combining their strengths and experiences, under the scheme of consortiums to provide the most competitive proposals for the large infrastructure projects of the oil industry. The conjunction of capacities between both institutions seeks to realize applications of these technologies for the benefit of the industry, and for a better use of the main crude produced in Mexico.