Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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So every day the share has a magical rise to over 2 when all the buying is at 1.75-1.9????
It's going to be a joint venture with Valkor.
I imagine if they succeed with the trial, provide a solid independent economic and engineering report for their project, they'll be able to raise the money in a variety of ways that may not just be equity (bonds, banks, investment houses, etc).
It's basically a risk thing; if they can prove it's a safe investment, then heavyweights will weigh in with their cash as a long-term investment.
I don't know enough to say what the likelihood of any particular outcome/option is, but just pointing out that equity isn't the only possibility.
The same goes for QFI; if they land a bunch of solid prospects with long-term contracts, merchant financing becomes an option (basically a type of invoice financing).
Yes, and the cost to QFI? - Nothing, just royalties coming in.
From my understanding of all this is that ultimately Tomco will be paying for everything and i have heard /read it could cost upto 20 million quid.
So i guess lots fund raising over the next 18 months for the holders of Tomco stock
You can buy Petroteq through Hargreaves Lansdowne.
Right thanks. LSE have Petroteq with the Ticker Code of 0TB2, but you can't buy the Shares they seem to be suspended, or it could be that you can only buy in Canada
Petroteq, listed in canada.
Sorry to be a bit of a pain, but can you please tell me who PQE are, because LSE don't know who they are. Thanks
Yes but they have both and the market cap is small. Trouble is they have a history of dilution and very poor shareholder communication, that is why I moved to QFI, I still want to be on the oil sands journey but not with a company that has no regard for holders. They will dilute again imo.
Im not sure why Tomco is getting the rise , they are nothing without PQE or QFI
lots of action over at tomco, one day people will realise the system will rely on MASR to be ultra profitable and we will get our rise. its only a matter of time.
Yes, the 5% of gross seems a pretty fair deal for PQE. Especially if they can then sell this tech to other companies. You could imagine this is a good combined product offering in a variety of contexts (MSAR + Petroteq).
Not sure if the POSP is covered by this, but I imagine it should be.
""
On July 2, 2019, the Company announced that it had entered into a non-exclusive technology licensing agreement with Valkor LLC (“Valkor”), a company based in Katy, Texas. The Agreement grants to Valkor the right to use Petroteq’s proprietary patented technology to engineer, construct, operate and finance oil sands extraction plants (individually, a “Plant”) to transform highly oil saturated feed ore recovered from mining operations to heavy crude. Under the Agreement, Valkor agreed to pay Petroteq a non-refundable license fee of US$2 million per Plant in two payments, with 50% payable upon start of construction of a Plant and 50% payable upon first production of such Plant. The Agreement further provides that Valkor will pay Petroteq a five percent (5%) royalty based on annual gross sales, excluding solvent and or water, for so long as licensed technology is covered by a valid claim in the country in which it is used.
""
https://petroteq.energy/news/press-releases/detail/345/petroteq-announces-progress-on-new-technology-licenses-and
Actually wrong again it did hit 600 bopd over two shifts and upscaling .
However with this could be large upside
They are upgrading it to 500 bopd. It was running at 300 bopd. So ok I should have said the 300 bopd plant that is being upgraded to 500 bopd. Geez, nit pickers or what !
'I have been following petroteq for years'
If that was the case you wouldn't say they have a 500 bopd plant .
interesting 6 months for QFI
jackg123
He's so full of himself, he's not figured it out yet!
i dont think so, but lets leave it there.
you got something mixed up there torr
jackg123, how silly. That was 2 different subjects as you know. I have been following petroteq for years.
The conversion price currently stands at 1.5p from a short time ago but I wouldn't be surprised if the last conversion price of 1.2p still stands.
Torreaguas
Your post yesterday at 10.56 said........."I understand it better now, cheers" yet at 13.48 today you say "trust me i do understand, been following this for years". So which is it? I know what I think and it's not printable!
have we just been conveniently dropped for the next conversion so bergen can sell into the next news?
"The use of MSAR in Utah is massive as the oil in place is billions of barrels literally billions ."
I don't think so! The use of MSAR is, currently, zip, nil, non-existent! I sincerely hope that may change in the coming months as the POTENTIAL is indeed "massive"
'Petroteq 500 bopd '
Beg to differ !!
trust me i do understand, been following this for years.