GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Reading everything below for the first time I would invest...This company is really going somewhere!!!!!
What is this BOD actually doing or what have they actually achieved over the last five years?
May 2019 Quadrise is pleased to announce that the Company has entered into a Services Agreement ("SA") with Aleph Commodities Ltd ("Aleph") to provide services to the Company for the use of MSAR® in the Kingdom of Saudi Arabia ("KSA")
May 2019 Agency Agreement with Hawazin Regional Trading Company and
Memorandum of Understanding with Hawazin and Aleph Commodities Limited for Kuwait
June 2019 Quadrise is pleased to announce that the Company has entered into an agency agreement (the "Agreement") with Laqua S.A. de C.V. operating under the Redliner name in Mexico
August 2019 Quadrise is pleased to announce it has signed a Memorandum of Agreement ("MOA") with a European oil refiner that is part of an international integrated oil and gas company.
March 2020 Quadrise is pleased to announce that significant progress has been made in preparation for the MSAR® pilot trial at one of the industrial client's sites in Morocco.
December 2020 Update re Greenfield MSAR® Commercial Trial Agreement
January 2021 JOINT DEVELOPMENT AGREEMENT WITH MSC SHIPMANAGEMENT LIMITED
August 2021 Greenfield Commercial Trial Agreement Extension
Discussions are underway with several candidate sites in Panama and Honduras for MSAR® and bioMSAR™ power plant trials later in 2022.
May 2023 Morocco he parties will enter discussions for potential commercial supply, with a view to signing a fuel supply agreement in Q3 2023.
May 2023 MSC The vessel is currently in dry dock being prepared for testing, which is now expected to commence in Q4 2023.
May 2023 UTAH Following the award of drilling permits to Valkor covering their Asphalt Ridge site in early May 2023, the supply of the licence and manufacturing unit will allow low sulphur heavy oil with a lower carbon intensity to be blended to MSAR® and bioMSAR™ for trials during H2 2023, ahead of commercial supply in Q1 2024.
Valkor is continuing to work with Heavy Sweet Oil LLC and AC Oil LLC to secure the required project financing to establish the Asphalt Ridge Enhanced Recovery Unit for the in-situ production of heavy oil, and to licence Quadrise's technology for the agreed sum of US$1.5m (comprising US$1m upon satisfaction of the financing condition and US$0.5m on the date on which a Quadrise MSAR® Manufacturing Unit and associated equipment are delivered to the Primary Production Site).
A further update will be provided upon conclusion of Valkor's project financing and subsequent award by Quadrise of the conditional site license to Valkor.
Steven Byle, CEO of Valkor commented:
"Whilst the unitisation decision by the Board on 23 August 2023 was disappointing, it was understandable, and we had scheduled the hearing well ahead of our project requirement for down-spaced pilot wells to be drilled. Our pilot development project is unaffected, and our plan is to proceed with the drilling programme under the current Board approvals. The wells will evidence the substantial heavy oil deposits surveyed in the area and support our further unitisation application early next year. We look forward to securing funding with our project partners during the coming weeks and to working with Quadrise to implement its unique technology in Utah to produce lower carbon fuels in the near future."
Jason Miles, CEO of Quadrise added:
"We are delighted that Valkor and their partners are commencing heavy oil drilling activities in Q4 2023 and working towards the conclusion of project financing arrangements. The Quadrise team are looking forward to working with Valkor in Utah to support the project and to deliver sales of MSAR® and bioMSAR™ fuels produced from lower carbon heavy sweet oil."
Further to the announcement on 24 August 2023, Quadrise Plc (AIM: QED), the supplier of innovative energy solutions for a cleaner planet, provides an update on its project with Valkor Technologies LLC ("Valkor") in Utah, USA.
As announced on 12 June 2023, Quadrise and Valkor signed a Site Licence Agreement ("SLA"), conditional on receipt by Valkor of drilling and underground injection permits for the Primary Project Site ("PPS") from the Utah Board of Oil, Gas and Mining (the "Board") and upon the receipt by Valkor of project financing in an amount of at least US$15 million.
Valkor's pilot development programme was approved by the Board in December 2022 on standard 40 acre spacing, and Valkor has been conducting field surveys and other tasks required for the completion of permit applications. The drilling permit is expected by Valkor to be issued by Utah's Department of Oil, Gas & Mining ("DOGM") in early September 2023, with drilling scheduled by Valkor in October 2023. Upon issue of the drilling permit, Valkor can file Underground Injection Control ("UIC") permit applications for the injection of steam to stimulate the drilled wells. DOGM has estimated UIC approvals will take approximately 8 weeks in accordance with the schedule for Valkor's planned October drilling. Under the current Board approvals and following the issue of the drilling permit, Valkor is able to drill up to 12 wells under the pilot development plan.
Separately, Valkor is seeking 2.5 acre down-spacing of the wells (compared with the standard of 40 acres) to allow drilling of 111 wells within the same area. Based upon advice received, Valkor sought a hearing for a unitisation plan, treating the pilot area as a single unit with revised spacing as desired by Valkor ("Unitisation"). At the recent hearing on 23 August 2023, the Board did not grant the Unitisation but instead requested that Valkor drill at least one pilot well and update the plan using the data from that well before seeking approval again. Unitisation by Q1 2024 will be targeted, to stay on schedule for the full development plan of 111 wells.
Valkor has advised Quadrise that the Board ruling of 23 August 2023 does not impact the PPS development plan and has confirmed that Valkor's financing is not dependent upon UIC or Unitisation approvals. With the drilling permit condition now in hand, Valkor and Quadrise have agreed under an addendum dated 25 August 2023, that the SLA is now only conditional upon the receipt by Valkor of project financing in an amount of at least US$15 million.
Valkor is continuing to work with Heavy Sweet Oil LLC and AC Oil LLC to secure the required project financing to establish the Asphalt Ridge Enhanced Recovery Unit for the in-situ production of heavy oil, and to licence Quadrise's technology for the agreed sum of US$1.5m (comprising US$1m upon satisfaction of the financing condition and US$0.5m on the date on which a Quadrise MSAR® Manufacturing Unit and associated equipm
What a month
Morocco then Valkor
Finally share Price below 1p
My Hope is fading fast
Pally 100% agree with your note also.
Such a great product with no take up ...We must ask why?
Morning Jason and Andy
You really could not make this up. We have all been waiting for some good news and shortly before the market closes an RNS informing us of yet another issue with equipment.
Years of hope very little to show, year after years talking about the three / four projects. Time is running out note your Poor support for the funding recently.
You really need to urgently get these projects moving forward and update the market on some good news.
Following on from your very generous option grants (in hindsight not great timing) and additional dilution from the recent funding required because you as a team have not managed the current project to commercialisation on the original timings. We must ask what is going on?
Over the years you have had institution Investor in and out of the company and currently no large support is evident. Private Investors have been very supportive but how long can our patience last. Please do everything in your power to deliver these projects within your current funding and with haste. Please just good news moving forward
Keeping everything crossed that’s your team has the skill and knowledge to get these project over the line.
Regards
PS don’t forget for the last few years I’ve suggested you should consider seeking a strategic Investor/partner. This would be my personal route forward a company with deep pocket and clout in the market
OMG. The saga goes on and on.
When1will the BOD deliver some good news
Share Price Market Cap Profit PE
1.25p £19,250,000
5p £77,000,000 £12,833,333 6
5p £77,000,000 £6,416,667 12
50p £770,000,000 £128,333,333 6
50p £770,000,000 £64,166,667 12
Above is very crude calculation but think we are many many years away from 50p if ever....Far to many shares have been issued. If all 3 project move forward to the current timeline maybe mid tenns could be possible in a couple of years
Approx 95% decline inSharePrice over the last 10 years
Will we finally see a change in our fortunes 2023 - 2025?
Approx 955 decline inSharePrice over the last 10 years
Range
2013 42p
2014 24p-30p
2015 14p-18p
2016 10p -11p
2017 4p-10p
2018 2p-8p
2019 2p-3p
2020 1.5p-3p
2021 2p-3p
2022 1.3p-2.3p
2023 1.6p-2.16p
2024 ?
2025 ?
Google Finance
Think someone has just bought 4.4m shares. Interesting timing
All II investors now under the 3% level
Hargreaves Landsdown 317,968,294 20.35%
Interactive Investor 232,089,784 14.85%
HSDL 128,937,995 8.25%
Barclays Smart Investor 80,010,249 5.12%
AJ Bell 66,634,487 4.26%
Ruudowen 62,839,261 4.02%
Phibatec Limited 48,558,994 3.11%
HSBC Private Bank 46,843,351 3.00%
Why year after year do we seem to go around in circles on the same subjects.
I dont care what QED staff get paid. I also dont care what option or additional incentives they also recieve.
If Jason was on £150k shareholders would still be complaining.
What I do care about is the inordinate amount of time all our current project are taking and I guess the QED team have always put forward ambitious timings and in Hindsight longtime line should have been given together with bigger funding in the passed. I really hope Quadrises technology/products get adopted within the next 18 months by all the current projects. letting us debate otherthing suck as shareprice dividends and new clients etc etc....
Lets give the management team this last period to get a few projects commercial.
Think I will walk in the next 12-18 months if nothing has moved forward
That why the Share Price is sub 2p.
We are where we are. Money in the bank, 3 possible the business projects to commercialize and 12 -18 month of money.
And a very very incentivsed team.
Good luck to them if they win I win.
Hotfinance14
Do we really care?
I look at this as very positive news, this is the BOD last chance to fill they boots and they obviously think its worth while doing now.
Money in the bank, 3 projects well down the line, 18 month to turn this company around.
If they dont who cares about the options they will be worthless
If they do and the share price is 10p 20p 50p+ im happy.
Sammagmil
No performance in the future these options are worthless
Future performance we all gain
Lets hope they are worth something very soon.
There's nothing in this he's just doing good tax planning nothing else
Hotfinance14 Sadly no im at a fasting clinic in Spain for a couple of weeks. Happy for someone else to have a go