The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
Torreaguas,
You misunderstand , its not a 500 bopd plant , that is for testing purposes.
Its unlocking the oil in Utah that has been the issue for years , PQE have achieved this early this year .
The use of MSAR in Utah is massive as the oil in place is billions of barrels literally billions .
If this trial is successful then this could be huge for QFI
Anyone who thinks this is a small deal take a look at the image of the Petroteq 500 bopd plant in Utah here
https://www.valkor.com/current_projects/
Then think about a 10,000bopd plant!
typo correction: for when they *WANT* the upgrade work finished and they start running the commercial trials.
Torreaguas... As your snippet says, the target was 3 months as of announcement for when the upgrade work finished and they start running the commercial trials, including MSAR.
So, obviously the trials agreement with QFI needs to happen before 3 months.
There is currently no trials agreement between Valkor and QFI; it is just a good faith/handshake arrangement on top of the MOU, with the expectation of progressing this to a trials agreement.
So, there will obviously need to be some movement on this soon, otherwise it will not be possible to send, install, and commission the trial gear within 3 months. It's a non-trivial sized trial, which is great news for QFI, IMO.
I hold shares in both QFI and PQE ,
Most shareholders of PQE are expecting news very soon maybe this week so hopefully clear up where QFI are coming into play.
From my understanding most are expecting this to work which opens up a huge amount of recoverable oil where MSAR will be frequently used .
Downside plants would have to be built , which as always takes time
The timeline for the plant test in Utah is three months to complete the upgrade works to the POSP, with the test programme expected to then take approximately a further 4-6 weeks, with third party verification of the process to then be undertaken following the testing.
total approx 5 months from last week.
Valkor have been working at Asphalt Ridge for a few years already, helping PQE optimise their process and scale up. In fact, Valkor are a substantial holder of PQE shares, as they were paid in shares for some EPC work they did last year. https://ir.petroteq.energy/press-releases/detail/338
""
The Company has also completed a strategic account payment structure with Valkor where the account payable amount for engineering to date of US$989,500 will be paid to Valkor in 3,958,000 common shares of the Company at US$0.25 per share. This is more than a 28% increase to the current trading share value (OTC:PQEFF – November 19, 2019). “In working with Petroteq for the past year at its Asphalt Ridge facility in Utah, and signing a technology licensing agreement in July, it is more apparent that Petroteq’s technology is highly effective,” stated Steve Byle, CEO of Valkor. “As Valkor has worked on providing many of the solutions to increase the efficiencies in all aspects of the Asphalt Ridge facility, we are pleased to be offering this account payment structure to Petroteq.”
""
So, Valkor are extremely familiar with PQE tech, and have proposed the use of MSAR tech to really make this project work. So I think MSAR is a very important part of the puzzle; going from heavy bituminous oil directly to a premium fuel product without any refining is quite amazing, really.
Hope to see more on this topic soon, as their upgrades and tests should start running in under 3 months -- with the MSAR trial being part of that, assuming they come to an agreement.
The trial at PQE plant at asphalt ridge is underway by looks of thing's, Valkor are currently on site and the plant has been commissioned just before cv19 hit .
Qfi tech will be an add to the plant to produce bunker fuel as we know, the work is appears to be already happening and by looks of it has been going on for a couple weeks.
Valkor website already states it is working at asphalt ridge .
2x 10000 bopd plants on Tomco lease using MSAR and then PQE approx 3000 bopd and rising at asphalt ridge .
I think they have only agreed "in principle" and "in good faith". This is not a done deal for the trial yet unless i have missed something. I would however, be pretty shocked it if did not happen. I would expect formal agreements at each phase, but maybe i am wrong
jackg123, they have allready agreed the use of msar for the 500bopd plant at a cost of up to $150k, can't see why there needs to be anything else on that. IMO, the contract will be on the 10,000 bopd plant.
a commercial trial of MSAR® technology at a test plant to process up to 500 barrels of heavy crude oil per day on the Petroteq Energy Inc's site in Utah, USA which is managed by Valkor ("Phase 1"); and
· the development of commercial MSAR® plants of up to 10,000 barrels oil per day ("Phase 2").
As announced on 17 June 2020, both the Company and Valkor continue to believe that the use of MSAR® technology can add significant value to the development of heavy and paraffinic oil deposits in Utah. Quadrise confirms that it has agreed in principle to the deployment of MSAR® trial equipment for Phase 1 at a price of up to US$150,000. Additionally, Quadrise will continue to work in good faith to finalise the process design and trial agreement for Phase 1 with Valkor, including the terms of the scope and timing of the trial.
Torreaguas
There will be a trial agreement with Valkor or Greenfield for the 500 BPD trial, agreed, 4 months for 10,000 BPD contract. The 500 BPD agreement will help with the understanding that without MSAR the project is a non starter from a ROI point if view
It won't.
No chance of the contract with Valkor being finalised until after the 500bopd trials are complete which is about 4 months away.
I think the sp here will move on good progress reports on that test. Also if we here that Morocco is opening up and they can get that project started.
No RNS this morning. So with no news the SP will remain whete it is. Hopefully the negotiations with Valkor will be concluded by the end of this month and we can then look forward to a substantial re-rate of the SP. As all LTHs have learnt, a pending trial will unlikely move the SP. A trial actually in progress followed by a contract is what is needed.
No, I think it's just that this board is now filled with pumpers. The share price will not rise until cash hits the bank account. Sorry.
Wodewick, you seem upset that some people may have just picked the right time to buy QFI, clearly you didn’t.
Pumper
Blackwash, well i'm glad to see your having a good day, i don't pretend to be a long termer in any share, i buy in heavy if it moves sometimes slightly and its a good blue which this now is becoming i will sell, Now i don't ask you to put up money for me and don't expect you to tell me how to spend it, this is a board for everyone to speak, info, banter, whatever, if you don't like what i write, filter me or go shove it, i really don't care what you think.. Now i hope I have made myself clear..
No-one here cares about the SP tomorrow Manager. It will go up or down and makes no difference until we get an RNS confirming NEWS. Without news the SP is just meaningless noise, as is the drivel on the Tomco page about 1/10th of a penny price movements that no-one wants to see repeated here.
Its there to go up a little bit further thank you, little steps and all that, i said before its a good little share to be in, Good luck And best wishes tomorrow everyone..