USTAR TAP proposal accepted for consideration
Dragon Shale is pleased to announce that USTAR TAP has confirmed acceptance of our letter of intent for submission of a proposal for further development of our oil shale process.
The proposal seeks $260,000 to enable retort development, production of test quantities of kerogen oil, in depth analysis of the product and intellectual property development. The results of this work will lead to commercial projects producing kerogen oil containing high value petrochemicals.
Funding of this proposal will enable the process to be taken from current technology development level three to level four. The majority of this work will be done in Vernal, Utah, near the site of the Colorado Utah Oil Shale property. The oil shale present in this privately owned land contains high quality Mahogany Zone oil shale resource which Dragon Shale has exclusive rights to develop.
This work continues in parallel with Dragon Shales development of a commercial project to produce 7,500 barrels per day (bpd) of kerogen oil from the best available, commercially demonstrated, process technology