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Fischer-Tropsch Technology: Addressing the Peak Oil Issue Today

Fischer-Tropsch Technology: Addressing the Peak Oil Issue Today. By Dennis L. Yakobson Rentech, Inc. Presented at The Denver World Oil Conference Beyond Oil: Intelligent Response to Peak Oil Impacts November 10-11, 2005 Sherman Street Events Complex Denver, Colorado. Advertisement

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Fischer-Tropsch Technology: Addressing the Peak Oil Issue Today

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  1. Fischer-Tropsch Technology: Addressing the Peak Oil Issue Today By Dennis L. Yakobson Rentech, Inc. Presented at The Denver World Oil Conference Beyond Oil: Intelligent Response to Peak Oil Impacts November 10-11, 2005 Sherman Street Events Complex Denver, Colorado

  2. Advertisement Newsweek Magazine – October 17, 2005 The world consumes two barrels of oil for every barrel discovered. So is this something you should be worried about?

  3. Introduction – The Issues at Hand • Conventional oil reserves are not located where demand is growing • No one technology can address the overall issue – fossil fuel demand is too large • Availability of infrastructure limits the use of many alternatives • A large readily-available resource is needed to offset near-term implications of peak oil • Alternatives must be clean, easily distributed and economically viable in today’s environment

  4. One Potential Solution – Fischer-Tropsch (FT) • Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals.

  5. Fischer-Tropsch – 2005 • SASOL • 160,000 b/d+ • Feedstock - Coal • Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals. Secunda Sasolburg 10

  6. Fischer-Tropsch – 2005 (continued) • Petro SA • 22,500 b/d+ • Feedstock - Natural Gas • Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals. Secunda Mossel Bay Sasolburg 10

  7. Fischer-Tropsch – 2005 (continued) • Shell • 15,000 b/d+ • Feedstock - Natural Gas • Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals. Bintulu, Malaysia Secunda Mossel Bay Sasolburg 10

  8. Fischer-Tropsch – 2005 (continued) • Sasol Oryx Project • 34,000 b/d • Feedstock - Natural Gas • Online 2006 • Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals. Bintulu, Malaysia Qatar Nigeria Secunda Mossel Bay Sasolburg 10

  9. Gas-to-Liquids (GTL) • Natural gas • CO2 Sequestration • Oil Recovery Enhancement Synhytech – Pueblo, Colorado, 1991 - 1993 Fischer-Tropsch Technology Steam Power Fischer-TropschSynthesis Synthesis GasGeneration CO + H2 Tail gas Gas Clean-up • Coal-to-Liquids (CTL) • Coal • Petroleum coke Production Separation& Upgrading Diesel Naphtha

  10. FT Slurry Reactor Synhytech, 1992 Fischer-Tropsch (FT) Drivers • Large secure resource base available – coal • No new product delivery infrastructure required • The fuels are clean-burning and meet all new and foreseeable worldwide environmental regulations

  11. “No New Infrastructure Required” FT Diesel Emissions Relative to a Typical Diesel Fuel (Percentage) FT Diesel Source: An average of several government funded studies by NREL & SwRI FT Core Product – Ultra-Clean Diesel Fuel

  12. FT Slurry Reactor Synhytech, 1992 Fischer-Tropsch (FT) Drivers (continued) • Large secure resource base available – coal • No new product delivery infrastructure required • The fuels are clean-burning and meet all new and foreseeable worldwide environmental regulations • Direct increase to a nation’s refining capacity (“no bottom of the barrel”) • Enhances the production of other energy-intensive products such as power and chemicals – poly-generation • Economically viable in today’s market

  13. Oil Demand 2025(1) Oil Demand – 2025 70 60 50 40 % of World 30 20 10 0 North America Middle East Emerging Asia • EIA/IEA Outlook 2005, Table A.4

  14. Reserves:(2) Oil Demand 2025(1) Oil Oil Demand – 2025 vs. Carbon Resources 70 60 50 40 % of World 30 20 10 0 North America Middle East Emerging Asia (1) EIA/IEA Outlook 2005, Table A.4 (2) BP Statistical Review & World Energy, June 2005

  15. Oil Demand 2025(1) Oil Natural Gas Oil Demand – 2025 vs. Carbon Resources (continued) Reserves:(2) 70 60 50 40 % of World 30 20 10 0 North America Middle East Emerging Asia • EIA/IEA Outlook 2005, Table A.4 • BP Statistical Review & World Energy, June 2005

  16. Oil Demand 2025(1) Oil Natural Gas Coal Oil Demand – 2025 vs. Carbon Resources (continued) Reserves:(2) 70 60 50 40 % of World 30 20 10 0 North America Middle East Emerging Asia • EIA/IEA Outlook 2005, Table A.4 • BP Statistical Review & World Energy, June 2005

  17. Advanced Clean Coal Potential Impact • USA China India • Gigawatts(1) 112 171 57 • Tons Coal (dry basis) 1,154,000 1,760,000 585,000 • per Day(2) • Pulverized Coal Technology(3) • CO2 (tons/day) 2.9 million 4.5 million 1.5 million • IGCC w/FT(4) • CO2(5) (tons/day) 1.2 million 1.8 million 0.6 million • Barrels/Day 1,100,000 1,700,000 570,000 (1) EIA/IEA International Outlook 20046 (2) Based upon sub-bituminous coal containing 30% by wt. moisture (3) Efficiency 33% (4) Efficiency 55% (5) Includes CO2 sequestration

  18. Development History of a Proven Proprietary and Patented GTL / CTL Technology Sterling 1982-1985

  19. Denver Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued) Sterling 1989

  20. Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued) Sterling Denver Pueblo 1991 – 1993

  21. Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued) Sterling Commerce City Pueblo 2005

  22. Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued) Sterling Commerce City Pueblo 2006

  23. Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued) “A 25-Year Instant Success” • Royster-Clark E. Dubuque • Nitrogen Facility • 2005 – Natural Gas • 830 t/d ammonia • 14 MWe imported power • 2009 – After Proposed Conversion to Coal • >900 t/d ammonia • ~ 5700 b/d FT fuels • ~ 37 MWe export power

  24. “In my opinion, the United States has the potential to be the CTL capital of the world.” – Dennis Yakobson Summary • World petroleum demand is growing at an unsustainable rate • Conventional oil supplies are defined • All available carbon resources need to be considered, engaged and utilized • New technologies need to be deployed • Depending on physical location – GTL/CTL are viable near-term solutions

  25. Safe Harbor Statement • Statements made in this presentation regarding Rentech, Inc. and the information incorporated by reference into this release that are not historical factual statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. It is intended that such forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. This section is included for purposes of complying with those safe harbor provisions. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of Rentech and its officers and can be identified by the use of terminology such as “may,” “will,” “expect,” “believe,” “intend,” “plan,” “estimate,” “anticipate,” “should” and other comparable terms or the negative of them. In addition, we, through our senior management, from time to time make forward-looking oral and written public statements concerning our expected future operations and other developments. You are cautioned that, while forward-looking statements reflect our good faith belief and best judgment based upon current information, they are not guarantees of future performance and are subject to known and unknown risks and uncertainties. These risks and uncertainties could cause actual results to differ materially from expectations. Factors that could affect Rentech’s results include the availability of financing for the projects, the decision of others as to proceeding with the projects, the timing of various phases of the projects, and the entry into definitive agreements with others related to the projects and our Joint Venture. Any forward-looking statements, whether made in this report or elsewhere, should be considered in context with the risk factors discussed or incorporated by reference in this report and the various disclosures made by us about our businesses in our various public reports including but not limited to forms 10Q and 10K filed with the United States Securities and Exchange Commission which can be accessed through the Company website at http://www.rentechinc.com/secfilings.htm at no monetary charge.

  26. 1331 17th Street, Suite 720 Denver, Colorado 80202 Tel 303-298-8008 Fax 303-298-8010 dennis@rentk.com www.RentechInc.com

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