Genoil Announces Revised Cost Models, Increased IRRs and Closing of Private Placement
TORONTO, ONTARIO--(Marketwire - April 6, 2011) - Genoil Inc. (TSX VENTURE:GNO)(OTCBB:GNOLF) ("Genoil") has recently completed a profitability test for a Middle Eastern client, and is pleased to update its profitability model based on the significant expansion of profit spreads. The spreads between heavy oil and light oil have been steadily increasing, which has resulted in an increase in the profit margins for Genoil's upgrading business prospects. This will open up additional opportunities across the US and internationally as well.
