August 7, 2008

Franklin Mining Endorses Construction of Argentine GTL Plant

US-based Franklin Mining has endorsed a letter of intent to construct a 20,000-barrel-per-day gas-to-liquid plant in Argentina, which will be capable of processing diesel, kerosene and other petroleum products.

The Argentine province of Tierra del Fuego and Fomicruz, the mining promotion office of the Argentine province of Santa Cruz, have signed the letter of intent with Franklin Oil and Gas Argentina, a subsidiary of Franklin Mining.

Under the terms of the 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.