Shale oil value enhancement research - Quarterly report: December 1, 1994 - February 28, 1995

The quarter's efforts were aimed towards completing phase-l. We expect to complete phase-l in the next quarter. The final in phase-l will produce the new economic estimates to use as guidelines for phase-l I activities. Progress on phase-ll has been initiated with the focus being on completing fabricated equipment needs. One result of phase-l is the simplicity in process strategy. The ability to pool the +200 °C polars prior to THD is one such simplifying step. Ultimately, the elegance of a shale oil value enhancement scheme will come from maximizing the value while minimizing the number of process steps. A scheme with these characteristics is what is emerging from phase-l. An effort is being made to attract private investment funds in JWBA, part of which will be earmarked specifically for a special effort in completing an agreement with a commercial partner. With an agreement with a commercial partner in place, it is believed that a request for federal cost sharing for the next phase of development in FY '97 and beyond will be warranted.