Published:
Franklin CEO Discusses GTL Investment in Tierra del Fuego, Argentina
Third-Year Revenue Projected to Reach $293 Million US
Franklin Mining, Inc. (PINKSHEETS: FMNJ)
(FRANKFURT: FMJ) Chairman and CEO William Petty will release his October
2008 Memo to Shareholders later today.
In today's Memo, Mr. Petty tells shareholders, "Argentina needs local
diesel fuel production resources. Tierra del Fuego has an abundant supply
of natural gas. Franklin understands GTL technology. And the three combine
to make a massive challenge and a great opportunity."
Phase I of the GTL project in Argentina requires an 8 to 12-month
construction period and generates $2.6 million US annually, at current
market value.
Phase II of the project requires a minimum 28 months of construction and
generates in excess of $93 million US annually, at current market value.
When fully operational, the planned production facility will convert an
estimated 957,000 barrels per year of diesel grade distillate from natural
gas. Another 669,000 barrels per year of blending grade gasoline together
with small quantities of other products will also be produced.
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy
interests in the United States and Bolivia as well as energy interests in
Argentina. Franklin Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly
owned subsidiaries. Franklin Mining, Inc. holds 51% ownership in both
Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A.
Additional information is available at www.FranklinMining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities
Litigation Reform Act of 1995: This press release contains forward-looking
statements that are subject to risk and uncertainties, including, but not
limited to, the impact of competitive products, product demand, market
acceptance risks, fluctuations in operating results, political risk and
other risks detailed from time to time in Franklin Mining, Inc.'s filings
with the Securities and Exchange Commission. These risks could cause
Franklin Mining, Inc.'s actual results to differ materially from those
expressed in any forward-looking statements made by, or on behalf of,
Franklin Mining, Inc.
For further information, please visit our website (www.FranklinMining.com)
or contact our Investor Relations firm, A. S. Austin & Company,
702-386-5379.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
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