Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Although - they may feel that when it has completed testing that they market it as being enhanced by the wonder material graphene and leave the competition with a year to try and catch up !.
RH, I would think the O&G company are well advanced in the testing and should be close to actual field testing. As much as we would love a positive update I think the NDA would keep all info quiet to us. The O&G company will want the maximum lead time over their competitors and will be holding VRS to keep quiet about their tests other than - this collaboration has progressed well. We will only know of the real success via future revenue. Even if the company is successful, they may not even advertise their stator as graphene enhanced - just the toughest elastomer on the market. This way their competition will still be in the dark.
DGD great points and well explained.
Being based in Houston the Oil industry is on VRS's doorstep. It wouldn't surprise me if we hear news on testing results soon. Patrick suggested a project with immediate trails and a 3 month lead time to stepping the order up .... If successful. We are now entering in to that period.
AGM next week too ?
RH - no drilling tool used in fracking. The hole is drilled with the tool and fracking is just where a liquid with some propant is pumped to the desired formation and then substantial pressure is applied to force the rock apart where the liquid is forced into the fissures and once pressure is removed, the cracks remain open thus helping any hydrocarbons to flow easier. They were doing this back in the 70s so don't know why the anti fracking brigade are against it so much. The drilling tool of the RNS in my opinion can only be a mud motor which is a positive displacement tool where the pumped fluid causes the shaft with the drill bit to rotate. The stator of the motor is made with a substantial amount of elastomer which seals against the rotor. Problems happen when the elastomer breaks apart due to overtorque by stalling and heat build up in the lobes. When the elastomer fails, the motor has to be pulled back to surface and changed. With the addition of graphene to the elastomer, it should increase the power capability (faster drilling rate) and probably help the heat dissipate better (more reliable). The deeper the well, the more hostile the environment - the Oil operator will demand the best stator and be willing to pay over the odds to make sure it drills faster and be more reliable. This is a great application and the innovator wants to keep it secret as long as possible while being able to charge a premium before the competition gets wind.
DGD , Hi, doesn't a fracking operation use a down hole drilling tool ?
I seem to remember seeing someone speculating that graphene could be used in fracking when it was announced about the sale to an "Oil & Gas Company". That speculation is wrong and the graphene was for use in a drilling tool that will hopefully result in further orders once the tool has proven to be superior to that currently available. Lab tests had been done and this quantity sale, in my opinion, is to have complete stators manufactured for at least flow loop testing but hopefully real well drilling use.
Fracking??
Do you mean the Graphene ordered for the oil industry tool?
RH - what fracking deals are VRS lined up with ?. First I have heard of this.
Thanks Max. I was meaning ( and know ) he has joined, but have heard nothing since?
Introduction and the normal waffle about targets etc would have been a start.
Mr Abbott however was very much more the comms man and probably over did it on twitter, but atleast he showed who he was, pro active and up for getting business for VRS.
Wouldn't mind his view on the Oil & Gas fracking deal that may or may not happen. Big bucks there for VRS if it comes off.
All the best and enjoy the last of the summer sun
For those who would like to start all over again -as did VRS - with a cheap stock, take a look at ARB (Argo Blockchain). It released excellent results today, make a profit and is cheap - less than 10p.
Members have had two months to read the RNS of late June 2019, which herelded the appointment of Mr Berney, and also stated that Mr Abbott had left the company with immediate effect. Nothing could have been simpler to explain the changes taking place in Houston. If more becomes generally known perhaps some member will inform us so that we are kept abreast of matters there. ----- Yours, Max.