Converting abundant low cost natural gas to high value transportation fuels offers great opportunity for the United States to secure its energy supply. A significant reduction in gas prices over the last few years and an escalation in oil prices have led to a high spread between oil and gas prices. The shale gas boom in North America presents a viable growth opportunity with the de-linking of oil and gas prices, and the abundance of natural gas at relatively low prices in North America. This has improved economics for GTL and made it the most promising alternative for adding value to the natural gas assets in North America. Wyoming GTL will be well positioned to convert low-priced gas into high-value transport fuels. The resources in Wyoming present an opportunity for Wyoming GTL to harness low-cost gas as a feedstock and convert it into higher-value liquid fuels, high in demand. With crude oil and energy prices rising to ever higher levels, the conversion of natural gas to hydrocarbon liquids represents an attractive route for monetizing gas resources.

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A GTL plant converts natural gas into liquids through the following steps: The pipeline quality natural gas is utilized as feed gas which is converted to syngas via established autothermal reforming (ATR) technology. ATR is a steam reforming and partial oxidation process. This ATR process requires large amounts of oxygen. The required oxygen volumes are supplied via a large air-separation unit (ASU). The syngas produced, consists of hydrogen and carbon monoxide and is then compressed and fed to the Fischer-Tropsch (FT) reactors where it is converted to liquid hydrocarbons. The proprietary Fischer Tropsch technology (FT) utilizes a slurry bubble column reactor and proprietary cobalt catalyst. The product of the FT reaction is further upgraded in typical refining units.

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EAI has been contracted to provide technical consultant service to the project. EAI is responsible to prepare material in support of the investor package which provides background on the Wyo GTL low temperature slurry process, then compares this process with alternative processes. This comparison will be both technical and economic. The service scope includes:

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To provide input to the Investor Report that demonstrates that the Wyo GTL process is both reliable and cost effective and represents the best possible technology

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1. To provide a reasonableness review of Air Liquide-Lurgi (AL-Lurgi) process design documentation

2. To provide input to design requirements regarding operation and maintenance

3. To respond to investor questions, as required.