This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Syntroleum Corporation Provides Update On Strategic Alternatives Process

TULSA, Okla., July 26, 2013 (GLOBE NEWSWIRE) -- In response to media and investor inquiries, Syntroleum Corporation (Nasdaq:SYNM) today provided an update on its ongoing strategic alternatives process.

On July 17, 2013, Syntroleum announced that its Board of Directors has retained Piper Jaffray & Co. for the purpose of evaluating strategic alternatives to enhance shareholder value. This action was prompted by the receipt of unsolicited offers from third parties with respect to a potential sale of (1) the company, (2) its assets, (3) its intellectual property or a combination thereof. Piper Jaffray is currently assisting the company with respect to evaluating these alternatives and is actively contacting additional parties as part of this process. There can be no assurances as to whether any particular strategic alternative for the Company will be recommended by the Board of Directors or undertaken or, if so, upon what terms and conditions.

Syntroleum's technology portfolio is weighted to the production of drop-in, synthetic fuels – specifically the production of second generation, drop-in renewable products and the conversion of natural gas to drop-in synthetic diesel, kerosene and naphtha (Gas-to-Liquids or "GTL"). Margins in both renewable fuels and GTL production are at historically high levels. The long run economics of GTL has been significantly enhanced as a result of the revitalization of the North American natural gas industry. Given the favorable commercial environment, the Company believes that now is an appropriate time to broadly review its strategic alternatives with respect to its renewable and GTL intellectual property and its ownership and licensing interest in Dynamic Fuels.

The Dynamic Fuels plant in Geismar, LA is in full standby mode, ready for operations. On February 25, 2013, the Dynamic Fuels Management Committee approved $7.3 million for the procurement and installation of new hydro-isomerization catalyst at the Geismar facility. The new catalyst was delivered to Dynamic Fuels on June 25, 2013 and installation was completed on June 28, 2013. Prior to loading the new catalyst, the hydro-isomerization reactor was inspected by Fairbanks Inspection and Testing on March 11, 2013 and met design specifications. The inspections included non-destructive examination procedures customary in the refining industry. While the plant is ready for commercial operation, the Dynamic Fuels Management Committee has not determined a re-start date.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs