Plant Auction to Salvage Closing Caltex Australia Kurnell Petroleum Refinery

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Researched by Industrial Info Resources (Sugar Land, Texas)--In 2012, Caltex Australia Limited (ASX:CTX) (Sydney, Australia) announced that it would close the Kurnell Refinery, located in New South Wales, Australia due to market conditions, and would convert a portion of the refinery to a refined products import terminal. The first phase of the conversion project is near completion and the refinery remains operational, at least for the next month.

On September 17, Caltex Australia Limited (ASX:CTX) (Sydney, Australia) will auction off the Kurnell Refinery, which has a nameplate capacity of 135,000 barrels per day. The sale provides a unique opportunity for potential buyers to walk through the refinery while it is operational and discuss the units with Caltex's engineering experts.

"Caltex's decision to market and sell its soon to be closed refinery assets prior to the plant shut shown has created a rarely before seen opportunity for potential buyers to inspect the plant and see it in operation before buying it. Up until September 29, 2014, prospective buyers have the rare opportunity to see the plant in operation and meet face to face with the operators and engineers in order to gain insight as to the "ins and outs" and subtle nuances associated with operating the refinery. This gives potential buyers a huge advantage on the purchase and their project," according to Liz Savoie, Director of Marketing for Liquidity Network International.

Liquidity Services Incorporated (NASDAQ:LQDT) (Washington, D.C.) announced that interested buyers have the opportunity to make an offer on the entire refinery, or on individual process units via Liquidity Services' marketplace www.NetworkIntl.com. The sealed bid auction opens on Wednesday, September 17, 2014 at 12 am CDT and closes on Wednesday, October 1 at 4 pm CDT. For more details on scheduling a visit to the facility and to register to bid, please visit: www.Networkintl.com/Kurnell-Refinery.

"This sale presents a rare opportunity for commercial buyers in the refining and petrochemical industry to purchase a fully-operational plant from a globally recognized organization," said Tom Burton, president and executive vice president of Liquidity Services' Capital Assets Group. "Caltex's decision to market and sell its soon-to-be-closed refinery assets prior to the plant shutdown in October has also created a unique opportunity and advantage for potential buyers to inspect the plant and see it in operation before bidding."

Below is a partial list of items that will be available for sale:

• 60,000BPD Crude Unit
• 21,500BPD FCCU
• 21,700BPD FCCU
• 2,600BPD Poly Unit
• 3,600BPD Alkylation Unit
• 15,532BPD Platformer
• 75,000BPD Crude Unit
• 24TPD Sulfur Recovery Unit
• 15,700BPD Rheniformer
• 32,750BPD Diesel Hydrotreater
• 9,300BPD Iso Siv Unit with Pressure Swing Absorber (PSA)
• 9,800BPD Benzene Saturation (UOP)
• 2MW Steam Driven Power Plant with (4) Generators and (2)
• Boilers

The cost for the conversion project and closure of the refinery will exceed $600 million. The first phase of the conversion project is nearing completion. A second phase is scheduled kick off early next year.
Liquidity Services' www.NetworkIntl.com marketplace allows professional buyers to source surplus energy equipment in the oil and gas, petrochemical, power/utilities, and mining industries from any location around the globe, including seven of the top 10 oil and gas companies. Bidders can evaluate available equipment from an online platform and then purchase assets via the regularly scheduled industry marketplace auctions. The Network International marketplace www.NetworkIntl.com provides buyers a safe, easy and secure purchasing experience, which includes buyer support services, logistics, and multiple payment methods.

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LIQUIDITY SERVICES MEDIA CONTACT

Melissa Gieringer
Public Relations Manager
o. 480-596-4496; m. 310-686-7773
e. melissa.gieringer@liquidityservices.com

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