Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Extracting oil from sand has been going on for decades, Canada being a good example. However it takes a lot of energy in the form of heat to separate the oil from sand and leaves an environmental disaster in its wake. Pools of oily “tails” and sand which has no useful purpose due to contamination with oil.
PQE developed a different process using solvent (condensate) and modest heating to remove the oil from the sand much more effectively. They also developed a process whereby the condensate, or most of it, was recovered and reused thereby reducing processing costs substantially. However the bitumen produced was too viscous for transportation to refinery so to that end condensate was used to let it flow better and bring the bitumen up to a spec the refinery would accept. This of course made the costs per barrel much higher than the plain bitumen.
This is where QFI fit in nicely. We use the finished low sulphur bitumen product (without condensate) and create an msar fuel directly from it without going near a refinery. Minimum inputs for maximum value, creating a low sulphur high value marine/power and industrial fuel which is pumpable and transportable in the usual way.
We are told that the sand left behind is so clean that it can be used in other industries without further cleaning so has a positive residual value and not simply a waste product. Also, and probably much more important, the environmental impact of this process is minimal compared to others like Canada so you can be sure that when/if the technology is commercially proven, big oil will want in on the party!
Morning Salinger, I withdraw the comment...
I had been reading somewhere that the use of distillates to remove the tar from the sands had been developed but it was not economic due to the cost of the fluids used as it would be left in the tar to allow it to flow. What is happening here is that the expensive distillate is being extracted and used again leaving a tar like substance that is then combined with MSAR which gives it back its viscosity allowing it to burn cleanly and also to be easily transportable bringing down the cost considerably of the final product and creating a cleaner burn.
Trouble is I have now spent a great deal of time finding the article I read to at least give me some credibility but I cannot.
So the process of removing the tar from the sands has been developed before but the equipment and process to create MSAR from tar sands is new as is the end product.
Tidetime beat me to it :)
So will I be very wealthy, compared to my present lowly status, of course.
“ The process that Tomco is using has been around for a while,...”
Not sure PQE would agree with that comment. They’ve spent a long time trying to develop this technology and it’s only now with Valkor investment it has a chance of proving itself commercially. Nobody other than PQE has developed and tested such a system so it’s hardly “been around for a while”.
Just remember that the board has a lot of options open to themselves too, so their interests are greatly aligned with success here. After years of limited director buying it would stink a bit if they were to start gobbling up shares right before significant developments were made.
As it stands;
- MK has just under 1m shares as well as 6m share options
- JM has just under 4m shares as well as 11.5m options
Remember also they will also be awarded a flurry of further share options upon hitting performance milestones, as well as being positioned as chair and CEO of what could be a massive MC company, should our potential be realised. This itself would completely transform their professional reputation and remuneration package.
All in all, if the SP was to ever hit even 50p - which should we achieve any partial success is highly conservative - MK and JM will be very wealthy men indeed. I’m not concerned with their commitment in this regard.
You cant have one without the other, I would guess without the QFI input into processing the tar sands the whole of this tar sands experiment is a waste of time. The process that Tomco is using has been around for a while, but not with MSAR as an end product and a cost 50% less than the present price of oil.
Where one goes so does the other. But as a process do they as a group of companies with individual property rights have to stick together to take this process to other billion barrel deposits or could QFI work with any other miner in other countries.
But if anything the tar sands experiment is a one trick pony for the companies involved in Utah, but for QFI they have another three areas that they are trialling. Far more upside in QFI than Tomco/Petrotec etc combined. QFI should be flying by now.
I guess any positive news has to hit the market to allow the shares of QFI to hit their target before any buy out can take place. A sale I would imagine cannot take place to say BP or Shell behind closed doors with information being hidden from the market. The reason I ask is because of the silence.
"So George Stapleton COO of Petroteq spends $100,000 buying 2M Petroteq shares in last 5 weeks.
Something special happening in Vernal.
Good stuff.
Big news I expect this coming week."
A lot of excitement on the Tomco chat. Would have been nice to see our executives showing the same belief in our projects????