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Penguin bicycle from 1970

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From 1969 Murray catalog the only bicycle that looks close is an F1 Murray Eliminator. I can't tell if it is convertible.

Murray_Eliminator.jpeg
 
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have never heard tell of a Murray product built with a Thun pattern chainset

perhaps other readers will know of examples...


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I googled (BF Goodrich convertible muscle bike) and saw one similar to your first pic, same sprocket, seat, removable bars. But it has wild handle bars on it. I found similar bikes but none with the Pengwin badge.
 
I googled (BF Goodrich convertible muscle bike) and saw one similar to your first pic, same sprocket, seat, removable bars. But it has wild handle bars on it. I found similar bikes but none with the Pengwin badge.
Darn. I will keep looking.
 
From Rat Rod Bikes:
 
Hmm, seems Murray and Penguin did go together. Wonder what store used the Penguin badge?
It has to be a store like Kmart, Target ect.. I've found nothing about a retailer for those bikes, just clothing stores.
 
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