DEI signs a 10-year lease for the Anvil Points Oil Shale Research Facility (Colorado, USA) from the U.S. Department of Interior and begins Paraho® Oil Shale Project. The Anvil Points property included substantial federal oil shale reserves. Paraho® Development Corp (PDC) is formed. DEI becomes wholly owned by PDC and develops Paraho® retorting technology as an advancement of prior work. Two plants are planned for construction: Paraho® Pilot Plant and Paraho® Semi-Works Plant. The project was privately funded by a consortium of 17 large oil and gas, mining, and engineering companies.

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