Wednesday, July 21, 2010
Tuesday, July 20, 2010
Bullion Monarch Mining Reports Record Annual Revenue
http://www.marketwatch.com/story/bullion-monarch-mining-reports-record-annual-revenue-2010-07-20?reflink=MW_news_stmp
ST. GEORGE, UT, Jul 20, 2010 (MARKETWIRE via COMTEX) -- Bullion Monarch Mining /quotes/comstock/11k!bulm (BULM 0.62, +0.01, +1.64%) recorded its best revenue year ever, with record revenue of $5,214,603 in fiscal 2010. This increase in revenue of $1,414,713 from a fiscal year 2009 is due to increased production and an increase in the average price of gold. An advantage of Bullion Monarch's royalty portfolio is that it requires relatively limited capital and incurs only minor direct operating costs.
Newmont Mining's Leeville Mine, from which Bullion Monarch receives a 1% GSR royalty, increased gold production targets to 500,000 ounces annually. Royalty payments from this mine are projected to continue for 10 plus years, based upon estimates publicly disseminated by Newmont.
The net comprehensive income totaled $1,019,906 in fiscal year ended April 30, 2010, compared to $1,766,949 for the fiscal year ended April 30, 2009. Bullion Monarch recorded net income per share of $0.02 for the 2010 period, compared to $0.04 for the 2009 period. Net income decreased during the year largely due to a $500,000 buy down relating to capping attorney contingency pay on the Newmont and Barrick area of interest litigation and an increase in legal and accounting expense relating to a one-time succession accounting revision.
Due to record revenue, Bullion Monarch was able to accelerate exploration payments on its Brazil properties totaling $1,593,235 of its $2 million total commitment. Bullion Monarch Mining also has the right to convert its 33.33% interest to a 4.5% NSR royalty. During the fiscal year ended April 30, 2010, its total assets increased to $5,033,169 compared to $3,993,026 at April 30, 2009.
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a gold-focused royalty company with additional interests in oil-shale technology and other assets. Bullion Monarch seeks to acquire existing mineral royalties or to finance mining projects that are in production or in development stage in exchange for royalty interests or a participating interest. The company is engaged in a continual review of opportunities to create new royalties or participating interests through the financing of mine development or exploration, or to acquire companies that hold royalties. The majority of current revenues are derived from a high-quality royalty claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch also has an interest in various mineral assets in North and South America in the exploration and development stages, which have the potential to generate future royalty or other revenues. Bullion Monarch Mining is also developing a process through its subsidiary, EnShale Inc. ("EnShale"), which they believe can extract the oil content from oil shale on a commercially reasonable and economically beneficial basis. Our management's goal is to establish a self-funded natural resource company focused on exploring for and developing world class gold opportunities. The company internally funds the oil shale technology subsidiary, EnShale Energy, as well as ongoing gold exploration projects. Bullion Monarch benefits from its royalty stream, presently generating in excess of $5,000,000 annually, and is working to monetize the substantial oil-shale assets through EnShale Energy. The royalty portfolio generates high-margin free cash flow with lower exposure to operating and capital costs than operating companies. Bullion Monarch's portfolio also provides for direct leverage to commodity prices and the exploration potential of world-class ore deposits and mineral exploration trends where we have existing royalty interests. Management believes that a diverse portfolio of royalty interests provides our shareholders with a higher risk-adjusted return through the commodity cycle than direct operating interests in mining properties. Visit the company website at www.bullionmm.com for more information.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995.
Certain statements contained in this report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained in this report contains "forward-looking statements' which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," "approximately," "seem," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only for the date the statements was made. Investors should carefully consider the preceding information as well as information contained in the report before making any investment in the shares of the company. The full 10k filing referenced in this press release is available at sec.gov or bullionmm.com for complete information. Bullion Monarch Mining, Inc. or its subsidiary EnShale Inc. undertakes no obligation to update any forward-looking statements contained in this report. This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy or sell any security.
Investor Contact Information
Rob Morris
robmorris@bullionmm.com
(801) 426-8111
Media Contact Information
AJ Sterling Consulting
info@bullionmm.com
(435) 669-3855
ST. GEORGE, UT, Jul 20, 2010 (MARKETWIRE via COMTEX) -- Bullion Monarch Mining /quotes/comstock/11k!bulm (BULM 0.62, +0.01, +1.64%) recorded its best revenue year ever, with record revenue of $5,214,603 in fiscal 2010. This increase in revenue of $1,414,713 from a fiscal year 2009 is due to increased production and an increase in the average price of gold. An advantage of Bullion Monarch's royalty portfolio is that it requires relatively limited capital and incurs only minor direct operating costs.
Newmont Mining's Leeville Mine, from which Bullion Monarch receives a 1% GSR royalty, increased gold production targets to 500,000 ounces annually. Royalty payments from this mine are projected to continue for 10 plus years, based upon estimates publicly disseminated by Newmont.
The net comprehensive income totaled $1,019,906 in fiscal year ended April 30, 2010, compared to $1,766,949 for the fiscal year ended April 30, 2009. Bullion Monarch recorded net income per share of $0.02 for the 2010 period, compared to $0.04 for the 2009 period. Net income decreased during the year largely due to a $500,000 buy down relating to capping attorney contingency pay on the Newmont and Barrick area of interest litigation and an increase in legal and accounting expense relating to a one-time succession accounting revision.
Due to record revenue, Bullion Monarch was able to accelerate exploration payments on its Brazil properties totaling $1,593,235 of its $2 million total commitment. Bullion Monarch Mining also has the right to convert its 33.33% interest to a 4.5% NSR royalty. During the fiscal year ended April 30, 2010, its total assets increased to $5,033,169 compared to $3,993,026 at April 30, 2009.
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a gold-focused royalty company with additional interests in oil-shale technology and other assets. Bullion Monarch seeks to acquire existing mineral royalties or to finance mining projects that are in production or in development stage in exchange for royalty interests or a participating interest. The company is engaged in a continual review of opportunities to create new royalties or participating interests through the financing of mine development or exploration, or to acquire companies that hold royalties. The majority of current revenues are derived from a high-quality royalty claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch also has an interest in various mineral assets in North and South America in the exploration and development stages, which have the potential to generate future royalty or other revenues. Bullion Monarch Mining is also developing a process through its subsidiary, EnShale Inc. ("EnShale"), which they believe can extract the oil content from oil shale on a commercially reasonable and economically beneficial basis. Our management's goal is to establish a self-funded natural resource company focused on exploring for and developing world class gold opportunities. The company internally funds the oil shale technology subsidiary, EnShale Energy, as well as ongoing gold exploration projects. Bullion Monarch benefits from its royalty stream, presently generating in excess of $5,000,000 annually, and is working to monetize the substantial oil-shale assets through EnShale Energy. The royalty portfolio generates high-margin free cash flow with lower exposure to operating and capital costs than operating companies. Bullion Monarch's portfolio also provides for direct leverage to commodity prices and the exploration potential of world-class ore deposits and mineral exploration trends where we have existing royalty interests. Management believes that a diverse portfolio of royalty interests provides our shareholders with a higher risk-adjusted return through the commodity cycle than direct operating interests in mining properties. Visit the company website at www.bullionmm.com for more information.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995.
Certain statements contained in this report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained in this report contains "forward-looking statements' which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," "approximately," "seem," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only for the date the statements was made. Investors should carefully consider the preceding information as well as information contained in the report before making any investment in the shares of the company. The full 10k filing referenced in this press release is available at sec.gov or bullionmm.com for complete information. Bullion Monarch Mining, Inc. or its subsidiary EnShale Inc. undertakes no obligation to update any forward-looking statements contained in this report. This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy or sell any security.
Investor Contact Information
Rob Morris
robmorris@bullionmm.com
(801) 426-8111
Media Contact Information
AJ Sterling Consulting
info@bullionmm.com
(435) 669-3855
Tuesday, October 20, 2009
INTERNATIONAL OIL SHALE SYMPOSIUM TALLINN, ESTONIA
Future energy solutions
Come and share your vision!
www.oilshalesymposium.com
INTERNATIONAL
OIL SHALE SYMPOSIUM
TALLINN, ESTONIA
June 8-11, 2009
2
Part 2
WELCOME TO THE INTERNATIONAL
OIL SHALE SYMPOSIUM
Tallinn 2009
March 2009 newsletter
Summary
Invitation page 2
Key dates page 3
Keynote speakers page 3
Program page 3
Poster presentations page 6
Publication possibilities page 6
Conference fees page 7
Symposium venue page 7
Field trips - sample itinerary page 7
Exhibition possibilities page 8
You are cordially invited to participate at the International Oil Shale Symposium, Tallinn 2009. Total world
resources of oil shale are estimated to exceed current proved oil reserves by at least 3 times. Shale oil
production can be economic and the technology is developing. Estonia is the frontrunner in oil shale
utilization – unlocking the potential of the future energy resource.
This is your opportunity to influence the development of one of the world’s
key energy resources. Early registration is only open until 1 April.
Interested in future energy solutions – come and share your vision!
For industry representatives: Extensive networking breaks in between sessions and at included participant
dinner. Company exhibits available – please see page 4. Field trips give you unparalleled access to
CEO’s of Eesti Energia’s oil shale subsidiaries.
For researchers: Find out the latest in oil shale developments and alternative hydrocarbons research by
attending panel sessions with research and industry experts, and consulting your peers during a dedicated
poster session.
For government representatives: Keep yourself up to date about similar developments elsewhere in
the world and have a chance to discuss common challenges and mutual strategies. Meet diplomatic and
government representatives from other oil shale countries.
3
Key dates:
April 1 – early conference registration closes
April 20 – late conference registration closes. No on-site registration permitted! All conference, fi eld trip
and hotel reservations can be cancelled for a full refund before April 20.
June 8-11 – International Oil Shale Symposium, Tallinn 2009
Keynote speakers:
Juhan Parts
Minister of Economic Aff airs and Communications, Republic of Estonia
Mr Parts has previously served as the Prime Minister of Estonia, as well as other
state positions such as Member of Parliament, Deputy Chancellor of the Ministry
of Justice etc. Minister Parts will be addressing the importance of oil shale in
Estonia’s energy mix and its national development strategies.
International Oil Shale Symposium – Preliminary Program
Sunday, June 7th
19:00 VIP dinner: Invitation only. Sponsored by Eesti Energia and hosted at the Estonian Academy of
Sciences.
Monday, June 8th
8:30 Welcoming Plenary – The History and Importance of the Estonian Oil Shale Industry
• Harri Mikk, Board Member, Eesti Energia - Welcoming
• Peep Sürje, Rector, Tallinn University of Technology - Welcoming
• Sandor Liive, CEO, Eesti Energia – Highlights of Estonian Shale Oil Industry & Future Plans
• Peter Weber, Outotec – Announcement of Eesti Energia’s and Outotec’s New Shale Oil
Technology - Meeting BAT
Keynote Speakers
• Juhan Parts, Estonian Minister of Economic Aff airs and Communications – Importance of Future
Oil Shale Industry Plans for Estonia
• Edward Lucas, Central and Eastern Europe Correspondent for The Economist – Strategic
Importance of Oil Shale
10:30-11:00 Networking and Refreshment Break
Klaus Brendow
Senior Adviser, World Energy Council
Dr Brendow is the former Central and Eastern European Regional Coordinator of
World Energy Council, acting as Senior Adviser of WEC since 2003, focusing on
carbon capture and storage, the climate-energy-water nexus and coal.
Dr Brendow has also worked as Director of Energy Division, United Nations
Economic Commission for Europe in Geneva. He will be speaking on oil shale as an
asset in the global energy context.
Edward Lucas
Central and Eastern Europe Correspondent for The Economist
Mr Lucas has been covering the region for more than 20 years. From 1992 to 1994,
he was the managing editor of The Baltic Independent, a weekly English-language
newspaper published in Tallinn. He recently published his fi rst book, The New Cold
War. He has a thorough understanding of the economy and energy sphere of the
region, including the impact of oil shale development and will be speaking on the
signifi cance of oil shale in energy independence.
4
Session 1A Shale Oil Retorting Research
11:00 Panel: Research on Future Oil Production Techniques
• Fast Pyrolysis of Estonian Oil Shale, Vesa Arpiainen, Technical Research Centre of Finland
• Rapid Characterisation and Investigation of Oil Shales By Thermal Desorption Pyrolysis GC/MS
Using Multi-Functional Pyrolyzer, Chuichi Watanabe, Frontier Laboratories Ltd.
• Liquefaction and Gassification of Estonian Oil Shale in the Medium of Hot Compressed Water,
Kristjan Kruusement, Laboratory of Oil Shale and Renewables at Tallinn University of Technology
12:15 Panel: CFB Based Oil Retorting R&D
• Oil Shale Fluidized Bed Retorting Technology With CFB Furnace For Burning The By-Products,
Andres Siirde, Tallinn University of Technology
• Development of Improved Solid Heat Carrier Technology of Estonian Oil Shale, Indrek Aarna,
Eesti Energia AS
• Pilot Plant Research on Pulverized Oil Shale Fluidized Bed Retorting, Weidong Wang, Longhua
Harbin Coal Chemical Industry Company
Session 1B Remediation and Managing By-Products
11:00 Panel: Impacts and Re-use of Oil Shale Wastes
• Assessment of Impact of Oil Shale Wastes in Terrestrial Environment: Current Concepts, Problems
and Perspectives, Uuve Kirso, National Institute of Chemical Physics and Biophysics, Estonia
• Environmental Impact of Open Depositions of Solid Waste From Estonian Oil Shale Industry:
EcoToxicological Aspects, Anne Kahru, National Institute of Chemical Physics and Biophysics, Estonia,
Laboratory of Molecular Genetics
• Spent Shale is a Base for Industries in Jordan, Musa Resheidat, Jordan University of Science & Technology
12:15 Panel: Mine Remediation and Waste Management
• Remediation of Mining Dumps and of Ash Fields from Oil Shale Combustion, Joachim Hübner, C&E
Consulting und Engineering GmbH
• Environmental Measures at RWE Power’s Opencast Lignite Mines – German, Thomas Von
Schwarzenberg, RWE Power International
• Backfilling and Waste Management in Estonian Oil Shale Industry, Jyri-Rivaldo Pastarus, Tallinn
University of Technology, Department of Mining
1:30-2:30 Lunch
Session 2A Developments in Shale Oil Production Technologies and Upgrading
2:30 Panel: Highlighted Corporate Oil Production Technologies
• ExxonMobil’s Electrofrac Process for In Situ Oil Shale Conversion, Michele Thomas, ExxonMobil
Upstream Research Co
• The Ecoshale In-Capsule Retorting Technology, Anton Dammer, Ecoshale, Inc
• The Development of Small Sized Oil Shale Hot Solid Carrier Retorting Technique and Its
Application in China, Dewen Zheng, Petroleum Exploration and Development-LangFang
3:45 Panel: Shale Oil Upgrading Research
• Alternative Technologies for Oil Shale Liquefacation and Upgrading, Hans Luik, Tallinn University
of Technology / Laboratory of Oil Shale and Renewables Research
• Hydrotreating of Shale Oils, Jim Schmidt, PROCOM Consultants P/L
• Conceptual Design for 30,000 BPSD Integrated Bulk Shale Oil Hydrotreater Unit, Alan Goelzer,
Jacobs Consultancy
5
Session 2B Exploration and Geology
2:30 Panel: International Oil Shale Deposits 1
• Recent Oil Shale Exploration Results in New Brunswick, Canada, Roland Butler, Altius Minerals
Corporation
• Characteristics and Strategic Significance of the Liushule Oil Shale in Northeast of China,
Baichang Wang, New Energy Office of Daqing Oilfield Limited Company
• Oil Shale Potential in Serbia, Vojin Cokorilo, University of Belgrade
3:45 Panel: International Oil Shale Deposits 2
• Oil Shale In Jordan, Occurances & Investment Opportunities, Marwan Madanat, Natural Resources
Authority
• Another Insight Into Lithology and Geochemistry of the El Lajjun and Attart Oil Shale
Maastrichtian, Jordan, Väino Puura, University of Tartu and Tallinn University of Technology
• Oil shale in Israel – Alginite to Alganite, Tsevi Minster, Geological Survey of Israel
5:00-6:30 Poster Session and Refreshments
6:30 Transfer to Dinner at Tallinn Song Festival Grounds (Includes a Tour and History of the Song
Festival Grounds)
7:00-9:30 Group Dinner
8:15; 9:30 Transfer from Dinner to Hotels
Tuesday, June 9th
Session 3A Hints for Successful Oil Shale Projects
9:30 Panel: Challenges and Lessons Learned
• What Thermodynamics Tells Us About Energy Economics and the Future of Oil Shale,
James Bunger, JWBA, Inc
• Oil Shale Challenges, Demarco Epifanio, Petrobras
• Price, Cost and Policy: the Development of Alberta’s Oil Sands from the 1960s to the Present,
Michael Ekelund, Alberta Department of Energy
10:45 Panel: How to Successfully Develop and Finance Oil Shale Projects
• Financing Oil Shale Projects, Guy Ranawake, Lexicon Partners
• Persuading Lenders to Finance Oil Shale Developments, Howard Gooder, Europe Arab Bank plc
• Technology Development as Key in Technology Providing Business, Nikola Anastasijevic,
Outotec GmbH
Session 3B Oil Shale as a Power Source
9:30 Panel: Technical and Operational Issues
• Estonian Oil Shale as Power Fuel, Arvo Ots, Tallinn University of Technology
• Five Years Of Successful Operation With Foster Wheeler CFB Boilers Burning Oil Shale At Narva
Power Stations, Arto Hotta, Foster Wheeler
• High-temperature Corrosion of Superheater Tubes in Oil Shale Boilers, Andrei Dedov, Tallinn University
of Technology
10:45 Panel: How to Process Ash and Semicoke
• Utilization of Oil Shale Semi-coke – State of Art and Prospects, Rein Kuusik, Tallinn University of
Technology (TUT)
• Experimental Investigation on Combustion of Oil Shale Semi-coke on CFBC Pilot, Baizhong Sun,
Northeast Dianli University
• Reducing of Carbon Dioxide Emissions at Oil Shale Ash Deposition, Tõnu Pihu, Department of
Thermal Engineering, Tallinn University of Technology (TUT)
12:00-1:00 Lunch
6
Session 4A – International Oil Shale Developments
1:00 Panel: News on Global Updates 1
• Status, Outlook and Trends of Oil Shale Research, Demonstration and Development in the United
States, James Killen, U.S. Department of Energy
• India’s Fossil Fuel Energy Scenario and Carbon Management, Baleshwar Kumar, National Geophysical
Research Institute
• Chinese Oil Shale Business is Still Going On, Shuyuan Li, China University of Petroleum
2:15 Panel: News on Global Updates 2
• Status of Development of an Environmentally Friendly, Energy Efficient and Financially Attractive
Utilization of Oil Shale in Jordan, Egypt, Morocco, and Syria, Ammar Al-Taher, The Euro-Mediterranean
Energy Market Integration Project, MEDEMIP
• Oil Shale Investment Policy and Strategy, Maher Hijazin, Natural Resource Authority, Jordan
• Using of Oil Shale in Israel as Alternative Source for Energy, Yaakov Mimran, Ministry of National
Infrastructures
Session 4B – Environmental Impacts of an Oil Shale Industry
1:00 Panel: Greenhouse Gases and CCS
• Impact of Oil Shale Use on Greenhouse Gas Emission Projections from Energy Sector in Estonia,
Inge Roos, Department of Thermal Engineering, Tallinn University of Technology
• The Costs and Benefits of Carbon Capture and Storage, Hitesh Mohan, INTEK Inc
• Capture-transport-storage Scenario of CO2 Emissions Produced by Oil Shale-based Energy Industry
of Estonia, Alla Shogenova, Institute of Geology, Tallinn University of Technology
2:15 Panel: Expected Environmental Footprint and How to Manage It
• Predictive Modeling of Environmental Impacts of the Oil Shale Industry, Erik Puura,
University of Tartu, Institute of Technology
• Carbon and Water Resources Issues, Impacts, and Management Assessment for Oil Shale
Development, Andrew Wolfsberg, Los Alamos National Laboratory
• Environmental Legal Framework for Oil Shale Projects in Jordan, Eyas Shuaibi, CRA International
3:30-3:50 Networking and Refreshment Break
3:50 Closing Plenary - World developments and Oil Shale Potential:
• Andres Siirde, Tallinn University of Technology (TUT), Mihkel Veiderma, Estonian Academy of Sciences
– EU Oil Shale Strategic
Importance
• Jerry Boak, CERI, Colorado School of Mines – One Million Barrels Per Day of Shale Oil:
How and When?
• Keynote Speaker Klaus Brendow, WEC - Oil Shale: A Local Asset Under Global Constraint
* The Symposium program is subject to change without prior notice.
Please see the most recent information at www.oilshalesymposium.com
Poster presentations
Oral presentations will be complemented by an extensive poster session which will be viewable for the
length of the symposium. A dedicated poster session on the first day of the symposium will allow you to
meet and directly network with authors.
Publication possibilities
A selection of the best presentations from the Symposium will have the opportunity of being published
in upcoming issues of Oil Shale, a leading journal on oil shale research and development. Please see
http://www.kirj.ee/oilshale for more information about the journal.
7
Conference fees
Early registration (December 1-April 1): 200 EUR
Late registration (April 2-April 20): 250 EUR. No on-site registration permitted!
Students: 150 EUR. Please note that only Master’s and Doctoral students are eligible to participate.
Symposium venue
Tallinn University of Technology
With its eight faculties, four colleges and R&D institutions, Tallinn University of Technology (TUT) is a national
university of technology, internationally renowned, known as a reliable partner at diff erent levels
of collaboration networks. TUT serves as a hothouse of engineering and technology professionals and a
driving force for the development of a knowledge-based economy. TUT fosters integration of technical
and related natural and social sciences and humanities that create a basis of higher technological education
and advancement of Estonia’s economy. TUT is committed to collaboration in the networks of the
countries of the Baltic Sea region, Europe- and worldwide.
Field trips
The Symposium off ers a once in a lifetime opportunity to visit the most prominent sites of the Estonian
oil shale industry as well as to get insights into the operation of the companies. The tour includes presentations
by, and an unparalleled opportunity to meet and consult with the CEO’s and experts of the companies
visited.
The number of participants will be limited and registration takes place on a fi rst come-fi rst served basis.
We encourage those interested to sign up early!
Field trip itinerary
June 10
7:00 Transfer from Tallinn to Narva (refreshments provided)
10:00 Arrival at Eesti Power Plant, Eesti Energia
10:00-11:00 Presentation of Eesti Energia’s Narva Power Plants
11:00-11:15 Coff ee break
11:15-11:45 Presentation of Eesti Energia’s Narva Oil Plant,
11:45-12:45 Tour of Eesti Power Plant
12:45-13:15 Tour of Narva Oil Plant
13:15-14:15 Lunch
14:15-15:00 Transfer from Narva to Jõhvi
15:00-16:00 Presentation of Eesti Põlevkivi - Estonian Oil Shale Company, Eesti Energia
16:00-18:00 Tour of underground/above ground mines
18:00-19:15 Transfer from Jõhvi to hotels (two hotel options provided)
19:30 Networking dinner at hotel Meresuu
June 11
9:00-12:00 Transfer from hotels back to Tallinn
8
Additional Information:
Technical/Program Information:
Rikki Hrenko, Chair, International Project Manager
Eesti Energia AS
Laki 24, 12915 Tallinn, Estonia
Phone: +372 71 52859
Fax: +372 71 52200
Email: rikki.hrenko@energia.ee
Conference Secretariat/Registration Information:
Mrs. Sirli Peda, Delegate Service Coordinator
Frens Conference Services
Toompuiestee 30, 10149 Tallinn, Estonia
Phone: +372 69 79281
Fax: +372 69 79201
Email: conference@frens.ee
Field trip fees
168-209 EUR, depending on the hotel chosen. More information on hotel options is available on the
website (www.oilshalesymposium.com)
* All meals, transportation and accommodations are included in the field trip price.
* The Symposium program is subject to change without prior notice.
Please see the most recent information at www.oilshalesymposium.com
Exhibition possibilities
All companies providing products or services relevant to the International Oil Shale Symposium 2009 are
invited to participate in the exhibition held during the Symposium. The exhibition will take place on 8-9
June at the Symposium Venue – Tallinn University of Technology. Exhibition areas are located in the foyers
close to poster and catering areas. Deadline for exhibition space requests is April 1, 2009.
Possible exhibition space is 4 sq. m. (2 x 2 m) per company including table, table cloth, chair, electricity
(220 V) and a sign with the company logo. There will be no booth construction available but companies
are welcome to use their own roll-ups and/or banners within their exhibition space.
Space rental is 67 EUR including the above mentioned furniture.
Please send your request for exhibition area rental or information enquiry to
Symposium Secretariat:
Ms. Sirli Peda
Frens Conference Services
E-mail: sirli.peda@frens.ee
Phone +372 6 979 290
Fax + 372 6 979 201
We look forward to welcoming you at the Symposium!
Come and share your vision!
www.oilshalesymposium.com
INTERNATIONAL
OIL SHALE SYMPOSIUM
TALLINN, ESTONIA
June 8-11, 2009
2
Part 2
WELCOME TO THE INTERNATIONAL
OIL SHALE SYMPOSIUM
Tallinn 2009
March 2009 newsletter
Summary
Invitation page 2
Key dates page 3
Keynote speakers page 3
Program page 3
Poster presentations page 6
Publication possibilities page 6
Conference fees page 7
Symposium venue page 7
Field trips - sample itinerary page 7
Exhibition possibilities page 8
You are cordially invited to participate at the International Oil Shale Symposium, Tallinn 2009. Total world
resources of oil shale are estimated to exceed current proved oil reserves by at least 3 times. Shale oil
production can be economic and the technology is developing. Estonia is the frontrunner in oil shale
utilization – unlocking the potential of the future energy resource.
This is your opportunity to influence the development of one of the world’s
key energy resources. Early registration is only open until 1 April.
Interested in future energy solutions – come and share your vision!
For industry representatives: Extensive networking breaks in between sessions and at included participant
dinner. Company exhibits available – please see page 4. Field trips give you unparalleled access to
CEO’s of Eesti Energia’s oil shale subsidiaries.
For researchers: Find out the latest in oil shale developments and alternative hydrocarbons research by
attending panel sessions with research and industry experts, and consulting your peers during a dedicated
poster session.
For government representatives: Keep yourself up to date about similar developments elsewhere in
the world and have a chance to discuss common challenges and mutual strategies. Meet diplomatic and
government representatives from other oil shale countries.
3
Key dates:
April 1 – early conference registration closes
April 20 – late conference registration closes. No on-site registration permitted! All conference, fi eld trip
and hotel reservations can be cancelled for a full refund before April 20.
June 8-11 – International Oil Shale Symposium, Tallinn 2009
Keynote speakers:
Juhan Parts
Minister of Economic Aff airs and Communications, Republic of Estonia
Mr Parts has previously served as the Prime Minister of Estonia, as well as other
state positions such as Member of Parliament, Deputy Chancellor of the Ministry
of Justice etc. Minister Parts will be addressing the importance of oil shale in
Estonia’s energy mix and its national development strategies.
International Oil Shale Symposium – Preliminary Program
Sunday, June 7th
19:00 VIP dinner: Invitation only. Sponsored by Eesti Energia and hosted at the Estonian Academy of
Sciences.
Monday, June 8th
8:30 Welcoming Plenary – The History and Importance of the Estonian Oil Shale Industry
• Harri Mikk, Board Member, Eesti Energia - Welcoming
• Peep Sürje, Rector, Tallinn University of Technology - Welcoming
• Sandor Liive, CEO, Eesti Energia – Highlights of Estonian Shale Oil Industry & Future Plans
• Peter Weber, Outotec – Announcement of Eesti Energia’s and Outotec’s New Shale Oil
Technology - Meeting BAT
Keynote Speakers
• Juhan Parts, Estonian Minister of Economic Aff airs and Communications – Importance of Future
Oil Shale Industry Plans for Estonia
• Edward Lucas, Central and Eastern Europe Correspondent for The Economist – Strategic
Importance of Oil Shale
10:30-11:00 Networking and Refreshment Break
Klaus Brendow
Senior Adviser, World Energy Council
Dr Brendow is the former Central and Eastern European Regional Coordinator of
World Energy Council, acting as Senior Adviser of WEC since 2003, focusing on
carbon capture and storage, the climate-energy-water nexus and coal.
Dr Brendow has also worked as Director of Energy Division, United Nations
Economic Commission for Europe in Geneva. He will be speaking on oil shale as an
asset in the global energy context.
Edward Lucas
Central and Eastern Europe Correspondent for The Economist
Mr Lucas has been covering the region for more than 20 years. From 1992 to 1994,
he was the managing editor of The Baltic Independent, a weekly English-language
newspaper published in Tallinn. He recently published his fi rst book, The New Cold
War. He has a thorough understanding of the economy and energy sphere of the
region, including the impact of oil shale development and will be speaking on the
signifi cance of oil shale in energy independence.
4
Session 1A Shale Oil Retorting Research
11:00 Panel: Research on Future Oil Production Techniques
• Fast Pyrolysis of Estonian Oil Shale, Vesa Arpiainen, Technical Research Centre of Finland
• Rapid Characterisation and Investigation of Oil Shales By Thermal Desorption Pyrolysis GC/MS
Using Multi-Functional Pyrolyzer, Chuichi Watanabe, Frontier Laboratories Ltd.
• Liquefaction and Gassification of Estonian Oil Shale in the Medium of Hot Compressed Water,
Kristjan Kruusement, Laboratory of Oil Shale and Renewables at Tallinn University of Technology
12:15 Panel: CFB Based Oil Retorting R&D
• Oil Shale Fluidized Bed Retorting Technology With CFB Furnace For Burning The By-Products,
Andres Siirde, Tallinn University of Technology
• Development of Improved Solid Heat Carrier Technology of Estonian Oil Shale, Indrek Aarna,
Eesti Energia AS
• Pilot Plant Research on Pulverized Oil Shale Fluidized Bed Retorting, Weidong Wang, Longhua
Harbin Coal Chemical Industry Company
Session 1B Remediation and Managing By-Products
11:00 Panel: Impacts and Re-use of Oil Shale Wastes
• Assessment of Impact of Oil Shale Wastes in Terrestrial Environment: Current Concepts, Problems
and Perspectives, Uuve Kirso, National Institute of Chemical Physics and Biophysics, Estonia
• Environmental Impact of Open Depositions of Solid Waste From Estonian Oil Shale Industry:
EcoToxicological Aspects, Anne Kahru, National Institute of Chemical Physics and Biophysics, Estonia,
Laboratory of Molecular Genetics
• Spent Shale is a Base for Industries in Jordan, Musa Resheidat, Jordan University of Science & Technology
12:15 Panel: Mine Remediation and Waste Management
• Remediation of Mining Dumps and of Ash Fields from Oil Shale Combustion, Joachim Hübner, C&E
Consulting und Engineering GmbH
• Environmental Measures at RWE Power’s Opencast Lignite Mines – German, Thomas Von
Schwarzenberg, RWE Power International
• Backfilling and Waste Management in Estonian Oil Shale Industry, Jyri-Rivaldo Pastarus, Tallinn
University of Technology, Department of Mining
1:30-2:30 Lunch
Session 2A Developments in Shale Oil Production Technologies and Upgrading
2:30 Panel: Highlighted Corporate Oil Production Technologies
• ExxonMobil’s Electrofrac Process for In Situ Oil Shale Conversion, Michele Thomas, ExxonMobil
Upstream Research Co
• The Ecoshale In-Capsule Retorting Technology, Anton Dammer, Ecoshale, Inc
• The Development of Small Sized Oil Shale Hot Solid Carrier Retorting Technique and Its
Application in China, Dewen Zheng, Petroleum Exploration and Development-LangFang
3:45 Panel: Shale Oil Upgrading Research
• Alternative Technologies for Oil Shale Liquefacation and Upgrading, Hans Luik, Tallinn University
of Technology / Laboratory of Oil Shale and Renewables Research
• Hydrotreating of Shale Oils, Jim Schmidt, PROCOM Consultants P/L
• Conceptual Design for 30,000 BPSD Integrated Bulk Shale Oil Hydrotreater Unit, Alan Goelzer,
Jacobs Consultancy
5
Session 2B Exploration and Geology
2:30 Panel: International Oil Shale Deposits 1
• Recent Oil Shale Exploration Results in New Brunswick, Canada, Roland Butler, Altius Minerals
Corporation
• Characteristics and Strategic Significance of the Liushule Oil Shale in Northeast of China,
Baichang Wang, New Energy Office of Daqing Oilfield Limited Company
• Oil Shale Potential in Serbia, Vojin Cokorilo, University of Belgrade
3:45 Panel: International Oil Shale Deposits 2
• Oil Shale In Jordan, Occurances & Investment Opportunities, Marwan Madanat, Natural Resources
Authority
• Another Insight Into Lithology and Geochemistry of the El Lajjun and Attart Oil Shale
Maastrichtian, Jordan, Väino Puura, University of Tartu and Tallinn University of Technology
• Oil shale in Israel – Alginite to Alganite, Tsevi Minster, Geological Survey of Israel
5:00-6:30 Poster Session and Refreshments
6:30 Transfer to Dinner at Tallinn Song Festival Grounds (Includes a Tour and History of the Song
Festival Grounds)
7:00-9:30 Group Dinner
8:15; 9:30 Transfer from Dinner to Hotels
Tuesday, June 9th
Session 3A Hints for Successful Oil Shale Projects
9:30 Panel: Challenges and Lessons Learned
• What Thermodynamics Tells Us About Energy Economics and the Future of Oil Shale,
James Bunger, JWBA, Inc
• Oil Shale Challenges, Demarco Epifanio, Petrobras
• Price, Cost and Policy: the Development of Alberta’s Oil Sands from the 1960s to the Present,
Michael Ekelund, Alberta Department of Energy
10:45 Panel: How to Successfully Develop and Finance Oil Shale Projects
• Financing Oil Shale Projects, Guy Ranawake, Lexicon Partners
• Persuading Lenders to Finance Oil Shale Developments, Howard Gooder, Europe Arab Bank plc
• Technology Development as Key in Technology Providing Business, Nikola Anastasijevic,
Outotec GmbH
Session 3B Oil Shale as a Power Source
9:30 Panel: Technical and Operational Issues
• Estonian Oil Shale as Power Fuel, Arvo Ots, Tallinn University of Technology
• Five Years Of Successful Operation With Foster Wheeler CFB Boilers Burning Oil Shale At Narva
Power Stations, Arto Hotta, Foster Wheeler
• High-temperature Corrosion of Superheater Tubes in Oil Shale Boilers, Andrei Dedov, Tallinn University
of Technology
10:45 Panel: How to Process Ash and Semicoke
• Utilization of Oil Shale Semi-coke – State of Art and Prospects, Rein Kuusik, Tallinn University of
Technology (TUT)
• Experimental Investigation on Combustion of Oil Shale Semi-coke on CFBC Pilot, Baizhong Sun,
Northeast Dianli University
• Reducing of Carbon Dioxide Emissions at Oil Shale Ash Deposition, Tõnu Pihu, Department of
Thermal Engineering, Tallinn University of Technology (TUT)
12:00-1:00 Lunch
6
Session 4A – International Oil Shale Developments
1:00 Panel: News on Global Updates 1
• Status, Outlook and Trends of Oil Shale Research, Demonstration and Development in the United
States, James Killen, U.S. Department of Energy
• India’s Fossil Fuel Energy Scenario and Carbon Management, Baleshwar Kumar, National Geophysical
Research Institute
• Chinese Oil Shale Business is Still Going On, Shuyuan Li, China University of Petroleum
2:15 Panel: News on Global Updates 2
• Status of Development of an Environmentally Friendly, Energy Efficient and Financially Attractive
Utilization of Oil Shale in Jordan, Egypt, Morocco, and Syria, Ammar Al-Taher, The Euro-Mediterranean
Energy Market Integration Project, MEDEMIP
• Oil Shale Investment Policy and Strategy, Maher Hijazin, Natural Resource Authority, Jordan
• Using of Oil Shale in Israel as Alternative Source for Energy, Yaakov Mimran, Ministry of National
Infrastructures
Session 4B – Environmental Impacts of an Oil Shale Industry
1:00 Panel: Greenhouse Gases and CCS
• Impact of Oil Shale Use on Greenhouse Gas Emission Projections from Energy Sector in Estonia,
Inge Roos, Department of Thermal Engineering, Tallinn University of Technology
• The Costs and Benefits of Carbon Capture and Storage, Hitesh Mohan, INTEK Inc
• Capture-transport-storage Scenario of CO2 Emissions Produced by Oil Shale-based Energy Industry
of Estonia, Alla Shogenova, Institute of Geology, Tallinn University of Technology
2:15 Panel: Expected Environmental Footprint and How to Manage It
• Predictive Modeling of Environmental Impacts of the Oil Shale Industry, Erik Puura,
University of Tartu, Institute of Technology
• Carbon and Water Resources Issues, Impacts, and Management Assessment for Oil Shale
Development, Andrew Wolfsberg, Los Alamos National Laboratory
• Environmental Legal Framework for Oil Shale Projects in Jordan, Eyas Shuaibi, CRA International
3:30-3:50 Networking and Refreshment Break
3:50 Closing Plenary - World developments and Oil Shale Potential:
• Andres Siirde, Tallinn University of Technology (TUT), Mihkel Veiderma, Estonian Academy of Sciences
– EU Oil Shale Strategic
Importance
• Jerry Boak, CERI, Colorado School of Mines – One Million Barrels Per Day of Shale Oil:
How and When?
• Keynote Speaker Klaus Brendow, WEC - Oil Shale: A Local Asset Under Global Constraint
* The Symposium program is subject to change without prior notice.
Please see the most recent information at www.oilshalesymposium.com
Poster presentations
Oral presentations will be complemented by an extensive poster session which will be viewable for the
length of the symposium. A dedicated poster session on the first day of the symposium will allow you to
meet and directly network with authors.
Publication possibilities
A selection of the best presentations from the Symposium will have the opportunity of being published
in upcoming issues of Oil Shale, a leading journal on oil shale research and development. Please see
http://www.kirj.ee/oilshale for more information about the journal.
7
Conference fees
Early registration (December 1-April 1): 200 EUR
Late registration (April 2-April 20): 250 EUR. No on-site registration permitted!
Students: 150 EUR. Please note that only Master’s and Doctoral students are eligible to participate.
Symposium venue
Tallinn University of Technology
With its eight faculties, four colleges and R&D institutions, Tallinn University of Technology (TUT) is a national
university of technology, internationally renowned, known as a reliable partner at diff erent levels
of collaboration networks. TUT serves as a hothouse of engineering and technology professionals and a
driving force for the development of a knowledge-based economy. TUT fosters integration of technical
and related natural and social sciences and humanities that create a basis of higher technological education
and advancement of Estonia’s economy. TUT is committed to collaboration in the networks of the
countries of the Baltic Sea region, Europe- and worldwide.
Field trips
The Symposium off ers a once in a lifetime opportunity to visit the most prominent sites of the Estonian
oil shale industry as well as to get insights into the operation of the companies. The tour includes presentations
by, and an unparalleled opportunity to meet and consult with the CEO’s and experts of the companies
visited.
The number of participants will be limited and registration takes place on a fi rst come-fi rst served basis.
We encourage those interested to sign up early!
Field trip itinerary
June 10
7:00 Transfer from Tallinn to Narva (refreshments provided)
10:00 Arrival at Eesti Power Plant, Eesti Energia
10:00-11:00 Presentation of Eesti Energia’s Narva Power Plants
11:00-11:15 Coff ee break
11:15-11:45 Presentation of Eesti Energia’s Narva Oil Plant,
11:45-12:45 Tour of Eesti Power Plant
12:45-13:15 Tour of Narva Oil Plant
13:15-14:15 Lunch
14:15-15:00 Transfer from Narva to Jõhvi
15:00-16:00 Presentation of Eesti Põlevkivi - Estonian Oil Shale Company, Eesti Energia
16:00-18:00 Tour of underground/above ground mines
18:00-19:15 Transfer from Jõhvi to hotels (two hotel options provided)
19:30 Networking dinner at hotel Meresuu
June 11
9:00-12:00 Transfer from hotels back to Tallinn
8
Additional Information:
Technical/Program Information:
Rikki Hrenko, Chair, International Project Manager
Eesti Energia AS
Laki 24, 12915 Tallinn, Estonia
Phone: +372 71 52859
Fax: +372 71 52200
Email: rikki.hrenko@energia.ee
Conference Secretariat/Registration Information:
Mrs. Sirli Peda, Delegate Service Coordinator
Frens Conference Services
Toompuiestee 30, 10149 Tallinn, Estonia
Phone: +372 69 79281
Fax: +372 69 79201
Email: conference@frens.ee
Field trip fees
168-209 EUR, depending on the hotel chosen. More information on hotel options is available on the
website (www.oilshalesymposium.com)
* All meals, transportation and accommodations are included in the field trip price.
* The Symposium program is subject to change without prior notice.
Please see the most recent information at www.oilshalesymposium.com
Exhibition possibilities
All companies providing products or services relevant to the International Oil Shale Symposium 2009 are
invited to participate in the exhibition held during the Symposium. The exhibition will take place on 8-9
June at the Symposium Venue – Tallinn University of Technology. Exhibition areas are located in the foyers
close to poster and catering areas. Deadline for exhibition space requests is April 1, 2009.
Possible exhibition space is 4 sq. m. (2 x 2 m) per company including table, table cloth, chair, electricity
(220 V) and a sign with the company logo. There will be no booth construction available but companies
are welcome to use their own roll-ups and/or banners within their exhibition space.
Space rental is 67 EUR including the above mentioned furniture.
Please send your request for exhibition area rental or information enquiry to
Symposium Secretariat:
Ms. Sirli Peda
Frens Conference Services
E-mail: sirli.peda@frens.ee
Phone +372 6 979 290
Fax + 372 6 979 201
We look forward to welcoming you at the Symposium!
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