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Who's Afraid Of MTBE? Page 4 of 5 concentrations BTEX and MTBE concentrations were reduced by 99 75% and 98 21%, respectively Based on post-remedial site monitoring and sampling, the State issued a No 40 Fuither Action letter with a release of liability The entire project duration, from remediation system design to No Further Action, was slightly over one year at a cost of approximately $150,000 Conclusion As the case study so conclusively demonstrates, the use of ozone technology is an economical and efficient means of rapidly cleaning up properties with MTBE and petroleum hydrocarbon contamination Using a more conventional remedial approach, such as pumping and treating groundwater, would have taken at least four times as long and would have cost twice as much More importantly, similar results and timeframes have been achieved on numerous other occasions Timing is critical when it comes to the question of how to contain a corporation's liability for an MTBE contamination incident Because MTBE moves so quickly in groundwater, and can thus migrate to neighboring properties, the sooner an MTBE release is controlled and remediated, the less will be the exposure to potential third-party claims for bodily injury and property damage In addition, in the context of a corporate transaction, resolving an MTBE problem quickly is vital to the success of the deal Under conventional treatment approaches, that can take many years to complete, a corporation will likely need to show substantial reserves on the financial statements which can become a hindrance to consummating a deal For example, environmental reserves always beg the question of the sufficiency of remedial cost estimates and the validity of the data in support of those estimates Such issues invariably lead to negotiations on stock value and the need for indemnities in mergers and acquisitions, which can sometimes delay a transaction to the point of death Accordingly, the true value of a treatment technology like ozone is not so much in its comparatively lower cost but in its ability to allow corporate officers and directors to reclassify these MTBE contaminated properties from potentially significant liabilities to readily marketable assets * Kenneth P Wheeler is the manager of the hydrogeology group of Resource Control Corp , which is a New Jersey based environmental services firm, with offices in Rancocas, New Jersey Joseph J McGovern is a partner in the environmental law firm, Manko, Gold, Katcher & Fox, LLP, with offices in both Cherry Hill, New Jersey and Bala Cynwyd, Pennsylvania Copyright © 2000, Manko, Gold, Katcher & Fox, LLA 4UR T'RAtTKE*AZUR TEAM * LINKS* NEWSLETTER• IN THE NEWS * NOT TOMS* EYENTS*10M GEI R TEAM * CO RTA(T a* 40PAE http //www mgkflaw com/articles/whosafraidofmtbe html 11/10/2004