Versarien Share Price (VRS)

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.