Franklin Endorses Letter of Intent to Construct 20,000 Barrel per Day GTL Plant in Tierra del Fuego, Argentinaadmin
Tuesday, August 5th 2008
Franklin Mining, Inc. Chairman and President William A. Petty is pleased to announce the signing of a Letter of Intent to construct a gas to liquid processing plant capable of producing 20,000 barrels per day of diesel fuel, kerosene and other petroleum products.
Miguel Angel Ferro, President and Director of FOMICRUZ, SE, and Daniel Roman Banks, representing the Province of Tierra del Fuego, met in Rio Gallagos, Santa Cruz, Argentina on Friday, August 1, 2008, for the acceptance and signature of the Letter of Intent with Mr. William A. Petty on behalf of Franklin Oil and Gas, Argentina, SA.
Under terms of their letter, the Provincial government will provide a daily allotment of six million cubic meters of natural gas per day for the duration of the agreement. Franklin anticipates releasing full details of the agreement within ninety days.
About FOMICRUZ, S.E: Additional information is available at www.FOMICRUZ.com
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 Mining, Bolivia is a wholly owned subsidiary. 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.