Sales & Marketing Strategy for Menlo Energy 2014-2015 June 12, 2014 Version 2.0 1 Contents Forecast Summary Revenue Summary Revenue by Channel Marketing Marketing Area Sales Channel Profiles Margins by Channel Sales & Mktg. Hierarchy Sales Logistics Ordering Process Customer Prospects Vanguard Customers 3 4 5 6 8 9 10 11 12 13 14-21 22 2 Forecast Summary Quaterly Avg. Sales by Market Channel o In 000s of gallons per month 800 700 600 National 500 Regional 400 State 300 Port Total 200 100 0 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 NOTE: (1) If RFS2 RVO is increased from current 1.28b to about 2b/year add between 10% and 30% to above (2) If $1 credit is retro-active and (as currently re-written out of Senate committee) extended thru ‘17, add 30% 3 Revenue Summary Total Sales (all channels) Forecast o At full production by December 2014 for all sales channels 1 and based on $3.61/g for B100 w/o $1 credit) including glycerin: o Total Avg Revenue: $ 1,606,375/mo 2- $3,212,750 thru 12/31/14 Glycerin: 2,715/mo 5,430 “ Total Revenue: 1,609,090/mo - 3,218,180 “ 3 Margins by Market Channel (w/o $1 credit) o National Accounts: 4 o Regional distributors: $0.16/g 43% of total EBITDA - 3 Accounts 0.20/g 36% “ “ - 4 “ o Statewide distributors: 0.20/g 8% “ “ - 2 “ o Port Terminal: 7% “ “ - 2 “ 0.25/g NOTE: (1) If credit is retroactive add $0.50/gallon (legislation probably after mid-terms/early Jan.‘15 (2) If EPA increases RVO, prices should rise 10% to 30% (3) Channel margin differences not factored in $ projections- $0.10 for B100 and $0.06 for glycerin (4) National accounts consolidate product in Houston – prefer rail and barge but will take truck if necessary 4 Revenue By Channel Biodiesel distribution for year one by marketing channel @700k gals/mo 1 Louisiana (2) Distributors 8% Port (2) 8% 50k g 250k g 2 50k g National (3) Companies 43% 300k gallons (g) Regional Distributors 36% (4) NOTE: (1) Based on an estimated full production through 2015 (2) Average number of customers per market channel in a given month 5 Marketing Development of mid-sized distributors (to 250k gals/mo each) o Serving major southern metro areas (Dallas, Houston, New Orleans, San Antonio, Austin, Mobile, Memphis etc.) o Provide biodiesel deliveries to racks, stations and bulk end-users o Target customers include: Mansfield Oil, Victory Diesel, Musket Inc., Gulf Hydrocarbon, Ram Oil (see list) National companies (to 300k gals/mo) o Serving fuel distribution in diverse markets both regionally and nationally as demand and price dictate o Target customers include: JP Morgan Energy, Shell Oil, Citgo, BP, Murphy Oil, Morgan Stanley Energy, Gavilon LLC, Marathon, Placid Refining, Valero and obligated parties (oil refiners and importers) 6 Marketing Development of Louisiana distributors (to 50k gals/mo each) o Serving metro and rural areas of Louisiana including: Alexandria, Shreveport, Baton Rouge, Lafayette, Monroe, Lake Charles, Morgan City, Houma and Gretna o Provide biodiesel deliveries to racks, stations and bulk end-users o Target customers include: John D Stone Oil, Dugas Oil, Lard Oil, Fuel Masters, Siarc, Inc., Tri-State Oil, Waguespack Oil Co. Development of Port of Alexandria terminal o Develop local rack for biodiesel blends to B20 o Target customers within 60 miles include: Lott oil, Jess Boyd LLC, Ortego Svcs., Rachel Oil, TA Roberts Oil, WB McCartney Oil o Development of bulk users serviced directly from terminal 7 Marketing Area National, Regional, State and Port Markets National & Regional Markets 250 to 1,000 mile radius* Port Local National & Regional Markets 45 miles Radius* 250 to 1,000 mile radius* State Distributor Market 150 to 200 mile radius* Local Distributor Market * From Alexandria 8 Channel Profiles Pros and Cons of Marketing Channels Account Type Strengths Weaknesses % of EBITDA National o Larger orders o Prefer strips o Consistent o Credit requirements o CoA challenges o Demanding logistics 24% Regional o Multiple prospects o Less demanding on chemistry o Less demanding logistics o Price conscious o Not as consistent o Slow pay potential State o Good margin potential o Builds local presence o Consistent o Smaller orders o Admin. intensive 16% Port Terminal o o o o o Very price sensitive o Inventory issue o Growth limit 8% Excellent $ potential Hedge against BD fallout Consistent All ACH, no credit 51% 9 Margins by Channel EBITDA/gal. by Market Channel o Based on current full production at 700,000 g/mo with RFS2 & $0 Credit COSTS National Regional State Port Feedstock $2.75 2.75 2.75 2.75 Processing 0.60 0.60 0.60 0.60 Marketing 0.03 0.03 0.03 0.03 G&A 0.07 0.07 0.07 0.07 $3.45 3.45 3.45 3.45 B100 $3.55 $3.59 3.59 3.64 Glycerin .06 .06 .06 .06 Customization Interest Total COGS RIN Value Recovered $1 Credit Recovered Total Adjusted COGS 1 REVENUE B99 w/o RINs 3.61 3.65 3.65 3.70 EBITDA $0.16 $0.20 $0.20 $0.25 DISTRIBUTOR ANALYSIS RIN Value Recovered $1 Credit Recovered Actual Cost/Gal. Note: (1) fob Pollock, LA #2 Diesel Rack Price 10 Sales & Mktg. Hierarchy Sales Dept. Hierarchy for National, Regional, State and Port (local) VSL Sales & Marketing Director Regional Rep. (1) National Reps (3) (Commission) (Commission) Statewide Fuel Distributors Alexandria Distributors (Terminal Business) Regional/National Distributors and Obligated Parties o Total rep. sales personnel = 4 11 Sales Logistics Order Processing and Customer Service o Prospect Database o Contact Results o On-Boarding Process o ASTM Approval o Optional 3rd Party ASTM Approval from Sample o Order Negotiations : Spot or strip; Special Requirements; Credit Check; Payment Terms; Shipping o Order Entry (see diagram next slide) o Advise Production o Advise Customer of Shipping Schedule o Post RINs to EMTS, Prepare BoL, CoA, BD Cert, PTD and Invoice o Advise Customer of Shipment and Tracking # o Payment options: Prepay; Pay at loading; Net 3; Net 5 and net 10 12 Order Processing Order Processing and Customer Service 13 Customer Prospects Fuel Distributors - Regional Louisiana Richard Oil & Fuel Holding Co Donaldsonville Amar Oil Co Inc Hammond Siarc Inc Gramercy Breaux Petroleum Products Inc Lockport E & S Inc Kentwood James R Drummond Inc Alexandria Lott Oil - Alexandria John W Stone Oil Distributor Gretna Lacassine Fuel LLC Lacassine Lard Oil Co Inc Denham Springs Leake Oil Co Inc Saint Francisville Martin Midstream Partners LP Amelia Robertson Oil Co Inc Bogalusa Russell Daniel Oil Co Inc Saint Francisville Wilcox Oil Co Inc--Lm Saint Francisville Rpl Oil Distributor & Supply Texas H & W Petroleum Co Inc Houston Koenning Inc San Antonio Beacon Energy Cleburne Petroleum Wholesale LP Spring Allstar Fuel Graham Brenco Marketing Corp Bryan Brotherhood Investments LP Dallas Brotherhood Investments LP Red Oak Derrick Oil & Supply Inc of Port Arthur Devon Inc Houston Dfw Biodiesel Inc Fort Worth Dixie Oil Co San Antonio Dunhill Products, LP Houston Fuelone Inc Houston Goodin Fuels Inc Hereford H & W Petroleum Co Inc Longview H & W Petroleum Co Inc Lufkin Landers Oil Co Higgins North Texas Locomotive Service Burleson On Site Fuels Helotes Mississippi Buffalo Services Inc McComb Lard Oil Co Inc Laurel, MS Southland Oil Co Jackson, MS 14 Customer Prospects All Prospects - Regional Send spec and he will try to www.greengallonsolutions.co find some for us, but not m from his plant, not reg. w/EPA yet GGS Cookeville TN Cookeville TN Tony Amato 800.741.7380 2,000,000 Sullens Biodiesel, LLC Morrison TN Chris Sullens 931-815-9892 For own use only, 50k/mo Agribiofuels, LLC Dayton TX Susan Harlan 936-257-0826 www.agribiofuels.com Msg 6/27 12,000,000 Beacon Energy Cleburne TX Frank Roy 817-558-9255 www.beacontx.com Tolling only 12,000,000 Biodiesel Industries of Greater Dallas-Fort Worth Denton TX Russ Teall 805-683-8103 www.biodico.com Msg 6/27 3,000,000 Biodiesel of Texas, Inc. Denton TX Stephen Martin 940-231-5965 www.biofuelsoftexas.com Msg 6/27 2,000,000 BTKS Biodiesel Giddings TX Kenneth Tarbet 928 243 7287 www.btks-biodiesel.com Msg 6/27 Eberle Biodiesel Liverpool TX Jim Eberle 832-473-6402 www.eberlebio-diesel.com Green Earth Fuels of Houston, LLC Galena Park TX Martin Beirne, III 713-237-2814 www.greenearthfuelsllc.com Marine shipping only New Fuel Company Sanger TX Timothy MacLarty 214-280-9558 www.newfuelco.com 2,000,000 500,000 Did not call 90,000,000 250,000 Paquin Energy and Fuel, LLC Fort Worth TX Thomas Paquin www.paquinenergyandfuel.co 817-521-4344 Msg 6/27 m RBF Port Neches, LLC Port Neches TX Mindy Foti 713-386-2600 www.rbfuels.com Msg 6/27 180,000,000 REG Houston, LLC Seabrook TX Alicia Clancy 515-239-8118 www.REGI.com Msg 6/27 35,000,000 30,000,000 Sabine Biofuels ll, LLC Port Arthur TX Rob 281-598-2180 www.sabinebiofuels.com Looking for us. Not started up yet, but by mid-August Texas Biotech, Inc 5,000,000 Arlington TX George Maayeh 817-633-3139 www.txbiotech.com Not running yet, upgrading 5,000,000 Texas Green Manufacturing, LLC Littlefield TX Jeffrey Bigham 806-385-1360 www.texasgreen.biz No answer 1,250,000 The La Grange Plant La Grange TX Joddy Moore 979-249-5527 www.thelagrangeplantinc.com Selling The Sun Products Corp Pasadena TX Craig Robinson 832-261-2000 www.sunproductscorp.com Scott Petroleum Corporation Greenville MS Brad Adams 662-334-1312 www.scottpetroleuminc.com Msg 6/27 20,000,000 Delta American Fuel, LLC Helena AR Bernie Crowley 870-338-3771 Not running 40,000,000 Future Fuels Batesville AR Greg Wilson 870-698-5651 Msg 6/27 39,000,000 Pinnacle Biofuels, Inc. Crossett AR Steve Bolin 870-304-2463 www.pinnaclebiofuels.com Msg 6/27 10,000,000 Musket Oklahoma City OK Michael Whitney 405 751-9000 Msg 6/27 Trader Gulf Hydro Houston TX Greg 713 523-7755 Working on it Trader Bios Energy Houston TX Warren Ward 713 202-4715 Msg 6/27 Rep SCB Chicago IL 312 624-8895 Nothing so far, 20 cents apart on evrerything Rep Simon Silin Uses palm stern. A D6 RIN. No good. 5,000,000 5,000,000 15 Customer Prospects All Prospects - Louisiana Ray Smith Kent Rous (601)857-6173 (225)869-3955 Paul R . Ayers (501)764-1389 Vernon swiggett (817)540-1403 Jonathan D Watson Gregg Hart (770)-416-9003 (281)293-5277 James Gregory Pete Daily Don Mitchell (903)5793419 (903)579-3419 (281)360-9186 Pat Schiro Jess Hewitt (225)756-2759 (713)523-7755 Brayon Hatfield (618)2534-2855 Matt Gilliam (813)248-1348 Bobby Hood (281)290-8830 Gladys Sloan (985)727-7075 Bill Wilkerson Chuck Clair Maureen McCardle Kathleen Zimmerman Joe Hankins (985)626-8835 (985)626-8835 (713)718-3010 (713)418-3020 (225)346-7428 Ron McQuestion (225)345-7479 Matt Pfister (225346-7404 Mike Dowling (225)751-3998 Gevan Alford (210)345-2517 Bill Glassner (210)345-2596 Cornell Jones (210)592-2104 Darrell L. Amar,Sr (985)345-1827 J.Richard Morgan David Bulloch Sam O'Keefe Leon E. Breaux, Jr. (985)839-4753 (985)764-6739 x111 (985)898-2663 (985)532-3358 www.alonusa.com smithre2@bp.com kentroussel@chevron.com www.chevron.com payers@citgo.com www.citgo.com vswigge@citgo.com www.citgo.com www.citgo.com Greg.Hart@conocophillips.com www.conocophillips.com james.gregory@delekrefining.com pete.daily@delekrefining.com don.I.mitchell@exxonmobil.com www.exxonmobil.com pat.j.schiro@exxonmobil.com jesshewitt@gulfhydrocarbon.com www.gulfhydrocarbon.com bhatfield@piasa-hwrt.com www.HWRTOIL.com mbgilliam@mapllc.com www.mapllc.com booby.hood@motivaent.com www.shell.com gladys.sloan@motivaent www.shell.com www.murphyoilcorp.com www.murphyoilcorp.com mkt@ptcom.com kmz@petrocomenergey.com joe.hankins@placidrefining.com www.placidrefining.com ronmcquestion@placidrefining.com www.placidrefining.com matt.pfister@placidrefining.com www.placidrefining.com mike.dowling@valero.com www.valero.com gevan.alford@VALERO.com www.valero.com bill.glassner@valero.com www.valero.com cornell.jones@valero.com www.valero.com dla@amaroil.com www.amaroil.com blossmanpet@i-55.com Ddavebulloch@aol.com rsokeefe@bellsouth.net leb2@mobiltel.com www.breauxpetroleum.com Alon USA BP Products North America Inc. Chevron Products Co. Citgo Petroleum Corp. Citgo Petroleum Corp. Citgo Petroleum Corp. Conocophillips.com Delek Mkt and supply Company Delek Mkt and supply Company Exxonmobil Fuels Marketing Co. Exxonmobil Fuels Marketing Co. Gulf Hydrocarbonm,Inc. HWRT Oil Company,LLC Marathon Petroleum Company,LLC Motiva Enterprises,LLC Motiva Enterprises,LLC Murphy Oil USA,Inc. Murphy Oil USA,Inc. Petrcom Energy Group LLC Petrocom Energey Group LLC Placid Refining Co.Inc Placid Refining Co.Inc Placid Refining Co.Inc Valero Energy Corporation Valero Energy Corporation Valero Energy Corporation Valero Energy Corporation Amar Oil Co.,Inc. ARB,LLC Dba Blossman Petroleum Distrs.,Inc. Big River Food & Fuel-Holmes Blossman Oil Co., Inc. Breaux Petroleum.com 16 Customer Prospects All Propects Louisiana Gregory Breaux (985)532-3358 Larry Negron W. Clifton Van Cleave Lynda Martin Billy Calhoun Hardman Cordell, IV (936)633-4631 (601)684-7702 (601)684-7702 (318)559-2688 (318)388-2602 Janie Dial Albert' Pete' F.Cole Jim Bickley (813)910-6800 (318)628-4486 (225)725-6749 Ryan Wooten (225)756-6753 Thomas D.Crump, Jr (318)624-0986 Ricky Daigle Dorothy Elliot Randy Daigle Chris Rittiner (337)824-2637 (337)824-2637 (337)786-3835 (504)833-5438 Clint Vegas Donna Callaway sam Mahdi (318)757-3975 (318)757-3975 (504)708-8300x213 Edgar J. Dugas, III Steve Baum Steve Bovillan Jeremy Dugas Jude Duhon Wesley Emerson H. J. Gautreaux H. J. (bud) Gautreaux John Ewing (337)828 -1182 (337)942-2488 (985)872-5228 (337)828-1182 (337)893-0674 (318)927-2046 (337)334-7588 (337)643-6383 (225)638-3178 Bennie J. Evans, Jr (318)345-1502x110 Glenn A. Ferachi Benny Depingre W.M. O' Niell, III Grady Gaubert (225)687-3610 (318)382-0566 (985)384-1610 (985)447-3811 gcb@mobiltel.com www.breauxpetroleum.com Inegron@brookshirebros.com wcvc@buffaloservices.com Lynda@buffaloservices.com carrolloil@ainweb.net hardeman@central-oil.com www.CENTRAL-OIL.COM jdial@circlek.com coleoil@bellsouth.net jbickley@crakerbarrelcstores.com www.crackerbarrelstores.com rwooten@crackerbarrelcccstores.com www.crackerbarrelstores.com crumpoilco@aol.com Breaux Petroleum Products,Inc. daigleoil@bellsouth.net daigleoil66@bellsouth.net daiglepetroleum@hotmail.com chris@dannyandclydes.com www.dannyandclydes.com Clint@.comdeltafuel dcallaway@deltafuel.coom discountzone@earthlink.net discountzones.org edgar@dugasoil.com sbaum@dugasoil.com steve@dugasoil.com jeremy@dugasoil.com judeinc@worldnet.att.net gwesleye@bellsouth.net enertec1@aol.com enertec1@aol.com johnny@prodigy.net www.swatterfields.com bennie@evanssoil.com www.evansoil.com ferachioil@aol.com filmoreoil@bellsouth.net wmoniell@eatel.net grady@gaubertoil.com www.gaubertoil.com Daigle Oil Co. Daigle Petroleum Sales,Inc Daigle Petroleum Sales,Inc Brookshire Brothers Ltd. Buffalo Services,Inc. Buffalo Services,Inc. Carroll Oil, Inc Central Oil & Supply Corp. Circle K Stores Cole Oil &Tire Co; INC /Mobil, Shell Cracker Barrel Storess, INC /Chev,Shell Cracker Barrel Storess, INC Crump Oil Co; inc Danny & Clyde's Food Store, Inc Delta Fuel Co. Inc. /Exxon,Mobil Indep. Delta Fuel Co. Inc. /Exxon,Mobil Indep. Discount Zone Group/ Chev, Shell Dugas Oil Co; Inc /FINA,MOBIL,EXX,INDEP Dugas Oil Co; Inc / BP,FINA,MOBIL,EXX,INDEP Dugas Oil Co; Inc /Bp, FINA, MOBIL,EXX,INDEP Dugas Oil Co; Inc /Bp, FINA, MOBIL,EXX,INDEP Duhon Brothen Co; Inc Emerson Oil co; Inc Enertec,Inc Enertec,Inc Ewing'Of Roads Inc. Ferachi Oil Co; Inc Filmore Oil Company Friends Enterprises, LLC Gaubert Oil ;Co INC. 17 Customer Prospects Obligated Parties Louisiana Alliance Refinery (ConocoPhillips), Belle Chasse Baton Rouge Refinery (ExxonMobil), Baton Rouge Chalmette Refinery oJV w/ ExxonMobil and PDVSA), Chal. Convent Refinery (Motiva Enterprises), Convent Cotton Valley Refinery (Calumet Lubricants), Cotton Val. Garyville Refinery (Marathon Petroleum Company), Gary. Krotz Springs Refinery (Alon), Krotz Springs Lake Charles Refinery (Calcasieu Refining), Lake Charles Lake Charles Refinery (Citgo), Lake Charles Lake Charles Refinery (ConocoPhillips), Westlake Meraux Refinery (Murphy Oil), Meraux Norco Refinery (Motiva Enterprises), Norco Port Allen Refinery (Placid Refining), Port Allen Princeton Refinery (Calumet Lubricants), Princeton Shreveport Refinery (Calumet Lubricants), Shreveport St. Charles Refinery (Valero), Norco 250,000 bb//d (40,000 m3/d) 503,000 bbl/d (80,000 m3/d) 193,000 bbl/d (30,700 m3/d) 255,000 bbl/d (40,500 m3/d) 13,000 bbl/d (2,100 m3/d) 436,000 bbl/d (69,300 m3/d) 85,000 bbl/d (13,500 m3/d) 30,000 bbl/d (4,800 m3/d) 425,000 247,000 125,000 bbl/d (19,900 m3/d) 242,000 bbl/d (38,500 m3/d) 48,500 bbl/d (7,710 m3/d) 8,300 bbl/d (1,320 m3/d) 35,000 bbl/d (5,600 m3/d) 260,000 bbl/d (41,000 m3/d) Mississippi Lumberton Refinery (Hunt Southland Refining), Lumberton 5,800 bbl/d (920 m3/d) Pascagoula Refinery (Chevron), Pascagoula 325,000 bbl/d (51,700 m3/d) Vicksburg Refinery (Ergon), Vicksburg 23,000 bbl/d (3,700 m3/d) Rogerslacy Refinery (Hunt Southland Refining), Sandersv. 11,000 bbl/d (1,700 m3/d) Continued . . . 18 Customer Prospects Obligated Parties Texas Baytown Refinery (ExxonMobil), Baytown Big Spring Refinery (Alon USA), Big Spring Beaumont Refinery (ExxonMobil), Beaumont Borger Refinery (ConocoPhillips/EnCana), Borger Corpus Christi Complex (Flint Hills Resources), C. Christi Corpus Christi Refinery (Citgo), Corpus Christi Corpus Christi E. & W. West Refineries (Valero), C.Christi Deer Park Refinery (Shell Oil Company), Deer Park El Paso Refinery (Western Refining), El Paso Houston Refinery (Lyondell), Houston Houston Refinery (Valero), Houston Independent Refinery (Stratnor), Houston McKee Refinery (Valero), Sunray Pasadena Refinery (Petrobras), Pasadena Port Arthur Refinery (Total), Port Arthur Port Arthur Refinery (Motiva Enterprises), Port Arthur Port Arthur Refinery (Valero), Port Arthur Penreco (Calumet [disambiguation needed]), Houston San Antonio Refinery (Age Refining), San Antonio Sweeny Refinery (ConocoPhillips), Sweeny Texas City Refinery (BP), Texas City Texas City Refinery (Marathon Petroleum Company), T.C. Texas City Refinery (Valero), Texas City Three Rivers Refinery (Valero), Three Rivers Tyler Refinery (Delek Refining Ltd.), Tyler 557,000 bbl/d (88,600 m3/d) 61,000 bbl/d (9,700 m3/d) 348,500 bbl/d (55,410 m3/d) 146,000 bbl/d (23,200 m3/d) 288,000 bbl/d (45,800 m3/d) 156,000 bbl/d (24,800 m3/d) 257,000 bbl/d (40,000 m3/d) 333,700 bbl/d (53,050 m3/d) 120,000 bbl/d (19,000 m3/d) 270,200 bbl/d (42,960 m3/d) 83,000 bbl/d (13,200 m3/d) 100,000 bbl/d (16,000 m3/d) 158,300 bbl/d (25,170 m3/d) 100,000 bbl/d (16,000 m3/d) 174,000 bbl/d (27,700 m3/d) 285,000 bbl/d (45,300 m3/d) 325,000 bbl/d (51,700 m3/d) 10,300 bbl/d (1,640 m3/d) 229,000 bbl/d (36,400 m3/d) 460,000 bbl/d (73,000 m3/d) 72,000 bbl/d (11,400 m3/d) 210,000 bbl/d (33,000 m3/d) 90,000 bbl/d (14,000 m3/d) 55,000 bbl/d (8,700 m3/d) Continued . . . 19 Customer Prospects Obligated Parties Alabama Tuscaloosa Refinery (Hunt Refining Company), Tuscaloosa Saraland Refinery (Shell Oil Company), Saraland Mobile Refinery (Gulf Atlantic Refining & Marketing), Mo. 52,000 bbl/d (8,300 m3/d) 80,000 bbl/d (13,000 m3/d) 16,700 bbl/d (2,660 m3/d) Oklahoma Ardmore Refinery (Valero), Ardmore Ponca City Refinery (ConocoPhillips), Ponca City Tulsa Refinery (Sinclair Oil), Tulsa Tulsa Refinery (Holly Corporation), Tulsa Wynnewood Refinery, Wynnewood Ventura Refining and Transmission, Thomas 74,700 bbl/d (11,880 m3/d) 194,000 bbl/d (30,800 m3/d) 70,300 bbl/d (11,180 m3/d) 83,200 bbl/d (13,230 m3/d) 71,700 bbl/d (11,400 m3/d) 14,000 bbl/d (2,200 m3/d) Arkansas El Dorado Refinery (Lion Oil), El Dorado Smackover Refinery (Cross Oil), Smackover 70,000 bbl/d (11,000 m3/d) 6,800 bbl/d (1,080 m3/d) Tennessee Memphis Refinery (Valero), Memphis 180,000 bbl/d (29,000 m3/d) Continued . . . 20 Customer Prospects Obligated Parties Alabama Tuscaloosa Refinery (Hunt Refining Company), Tuscaloosa Saraland Refinery (Shell Oil Company), Saraland Mobile Refinery (Gulf Atlantic Refining & Marketing), Mo. 52,000 bbl/d (8,300 m3/d) 80,000 bbl/d (13,000 m3/d) 16,700 bbl/d (2,660 m3/d) Oklahoma Ardmore Refinery (Valero), Ardmore Ponca City Refinery (ConocoPhillips), Ponca City Tulsa Refinery (Sinclair Oil), Tulsa Tulsa Refinery (Holly Corporation), Tulsa Wynnewood Refinery, Wynnewood Ventura Refining and Transmission, Thomas 74,700 bbl/d (11,880 m3/d) 194,000 bbl/d (30,800 m3/d) 70,300 bbl/d (11,180 m3/d) 83,200 bbl/d (13,230 m3/d) 71,700 bbl/d (11,400 m3/d) 14,000 bbl/d (2,200 m3/d) Arkansas El Dorado Refinery (Lion Oil), El Dorado Smackover Refinery (Cross Oil), Smackover 70,000 bbl/d (11,000 m3/d) 6,800 bbl/d (1,080 m3/d) Tennessee Memphis Refinery (Valero), Memphis 180,000 bbl/d (29,000 m3/d) Continued . . . 21 Vanguard Customers Vanguard Customers Company Contact City State Phone Type A/R 1 Allied Howard Meek Palm Springs CA 713 857-2848 Buy 2 3 Akash Energy Gulf Hydrocarbon Matt Cox Jess Houston Houston TX TX 516 816-3705 713 305-3133 Toll Buy Pay OK Pay N5 4 Element Market Ken Wall Houston TX 281 207-7283 Buy Pay N3 Pay INV Buy Pay N3 6 Element Alternative Energy Vic Energy Brian Carmichael Garret Bend Dallas OR TX 971 678-3928 516-457-5075 Buy 7 Kolmar David Stamford CT 203 873-2078 Toll 8 Vinmar Chris Houston TX 281 618-1322 Buy 9 Musket Michael Whitney Oklahoma City OK 405 751-9000 Buy 10 TJ Kervin TJ or Sammy Winnfield LA 318 628-6911 Buy Pay N3 11 Delek Erik Nashville TN 615 771-6701 Buy Pay N5 12 Lansing Mitch Kansas City MO 913-563-3433 Buy Pay N3 13 Targray Ken Richardson Montreal Canada 514-695-8095 Buy 14 Amerigreen.com Steve McCracken Lancaster PA 717665-1402 Buy 15 GRG Fuels Gregory Schnaubel Oneonta PA 607 353-0896 Buy 16 Chem Oil George Dickerson Houston TX 713 857-2848 Rep 17 Morrisey Oil George Dickerson Houston TX 713 857-2848 Rep 5 Pay INV 22
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