RE: Petroteq RNS18 Jun 2021 10:13
The RNS advised they were getting $70.91 per barrel, less transport of $13 making $57.91 if the $30 PB cost is correct then they are making $27.91 PB, however they only transported 200 barrel, so they only made $5582. My understanding is that this was a higher than expected $ for the grade of oil.
Whilst this is great progress and prove of principle, its not going to make a business that would validate the investment required for the large units. Yes, their is also the sand at $15-20 per tonne, which effectively offsets the above transport costs, but still does not make the investment required a no brainer.
I understand the reason that such a small amount was sold is that it went to a local, small, refinery that can deal with "heavy sweet crude"and that the weight limit for the tanker was the limiter. The importance (IMO) of the MSAR via QFI is that it will change the API, thus other refineries would take it, at greater volume, and at a similar or higher price.
Best guestimate for MSAR tests is late August, then it will have to be made at the correct formula and shipped to Utah, allowing for usual delays, we should have Greenfield produced oil with MSAR by year end 2021 (IMO).