Member Info for Crownos

Given the fact that Valkor/HSO were or are still wanting to drill for oil on the 10% of TSHII land that Tomco now own, I don't know why Tomco don't pursue drilling on their own land themselves if the oil is there to taker. This is is a viable avenue if what people are saying is true in that Tomco & Valkor/HSO aren't in good standing anymore, and things have soured.

Because, still pushing all our resources into a funding dream for something that hasn't worked out for over 2 and a half years now is becoming a dramatic drain on all shareholders involved in this share. Tomco would be much more likely to gain funding for almost a hundredth of what they are currently asking for in order to kick start a drilling campaign on their own land, than sitting for years on ends with their hats out like beggars on a street corner hoping someone will drop them close to a hundred times their current market cap on nothing but an untested idea.

I originally bought into Tomco because I saw significant gains to be had through the technology via Petroteq which had major potential for profits in Utah where so many had failed, and thought Tomco would be the leaders of that technology along with Valkor, but it seems from what others have said that Valkor/Tomcos relationship is breaking down or souring and we are now relying on technology from a company that has gone through a trade halt/removal and cases involving major fraud which only puts doubt on the whole projects ability to scale despite third party verification.

Tomco have tried distancing themselves from Petroteq stating they are only using a shell of what Petroteq offered and are now going down a different/altered route of the original tech, but it makes me wonder if the breaking down of relationships and tarnished rep of previous partners has stymied any chance of getting this project funded and off the ground.

I personally feel Tomco needs to pull its head out of the funding sand and get a grip of what is within its own remit right now as a company, and what is actually possible rather than continuing to pursue something that has now become a distant highly speculative pipe dream which is unlikely to happen without a significant sell off. It's probably still highly unlikely to happen even if Tomco agree to sell off nearly all of Greenfield anyway, as this Idea has been around for well over a year now and no one has taken the sell off bait yet.

We keep getting, "were in negotiations" but are given no evidence of how close any of these are "negotiations" are, only that they are "talking" with potential funders. I can sit with my bank and talk about a loan I know they will never give me all I want and class that as talking with a funder. Something has to give or something needs to change significantly, and soon. I'd sell up if it what the shares are worth now wasn't so utterly low making this a real boom or bust share, as with Tomco, there is no sign of compromise for something smaller but wor

@Wonga

Seems you are right in that Heavy Sweet Oil (HSO) is a seperate company, I always thought it was a Valkor subsidiary as I could swear I saw it on Valkors website once. Guess I was wrong on that, but Steven Byle is pretty much at the head of HSO, and he certainly has not left Valkor, he is still its CEO. So I guess Valkor and HSO are simply just extremely close and tied together by Steve Byle despite technically being seperate.

@Wonga

Valkor are indeed an engineering provider, but Valkor fully owns their subsidiary Heavy Sweet Oil (HSO) which is their upcoming oil company. As far as I am aware Valkor do own land leases but they did sell a large portion to Ecoteq energy for a large stake in the company. Not sure exactly whats happening surrounding Ecoteq as they have now changed from a public listed company to a private one. Valkor and Tomco are also pretty friendly and Tomco is allowing Valkor/HSO to drill in part on their land for their drilling project and will be compensating Tomco. Overall we say Valkor but really we are dealing with their wholly owned subsidiary Heavy sweet oil and they do have land leases but im not sure how much land or where.

To answer your question SemaphorRed, here is what I believe may happen, ofcourse nothing is guaranteed or accurate, but it would be the obvious trajectory.

Next steps for Utah re: Valkor/Quadrise is waiting for Valkor to drill the pilot wells and gain samples for Quadrise to test. No doubt once testing has been verified by Quadrise as suitable for Msar/BioMsar, then I believe the Valkor funder will issue the rest of the funds needed for Valkor to kickstart its wider project for unitization where Valkor is hoping to drill 100+ oil wells possible alot more.

Once funding has been granted to Valkor on full to kickstart their wider drilling project at the same time Quadrise will recieve $1.5 million, one million on receipt of financing and the other 500k on receipt of Quadrise's MMU to produce Msar/BioMsar.

Once the pilot wells have been drilled and the oil tested I would think the Utah division would be much more quicker and willing to grant Valkors unitization program as they will have the physical evidence needed which was absent before.

Once Valkor obtains permits for their unitization project then the world is their oyster as it would then become a commercial venture with no doubt other local oil companies wanting in on the additional profits from their own oil wells. I believe this could then lead to further licences/contracts being drawn up for both Quadrise and Valkor to benefit from and if Valkor markets their oil and finds a wide array of customers for their oil/Msar &BioMsar, then it may a catalyst which could open up significant trade for oil in Utah.

In the beginning though, atleast for 6 months or more when the MMU is being built I'd expect Valkor to sell their oil as standard Low sulphur, until the MMU is up and running. If there is a success with the selling of Msar/BioMsar within Valkors market scope, then I would also be in the thought that Valkor may request more MMU's to create more Msar/BioMsar meaning more revenue for Quadrise and if other companies follow suit with Valkor we could be selling many MMU's for use with possibly Valkor being the engineering contractor if Quadrise trains their staff.

The next stage for Valkor is to then move onto their Oilsands via Tomco or possibly on their own, not sure how they will go about it, but Oilsands would be the next stage to oil recovery which given there is more surface sand oil than oil from drilling in Utah it could create an oil boom in the US if oilsands is unlocked on a profitable basis which has been a failed dream in Utah for decades.

Overall, if the oil in Utah is unlocked it could be extremely big money for those who unlock it.

Whilst I understand your scepticism Wonga and to some degree I still retain some of my own scepticism here. However, I do personally feel that this project will have a much higher sentiment of urgency than the testing offered years ago by Tomco/Petroteq. Why? Because for one, Quadrise and Valkor have a signed business agreement which gives things a much higher weight and incentive to push this forward at an expedited pace, where the previous testing did not contain any outlining agreement, it was simply a test request by Petroteq/Tomco with no outlined agreement in place like we do with Valkor.

Both Valkor and Quadrise have a highly vested interest in getting this over the line and tested asap, and with Quadrise raising all the funds plus additional funds from investors to push things like this forward at pace, then I'd expect that what took months to perform could be expedited into weeks or less if the samples were flown over instead of sailed by boat like last time etc. It may be a higher cost, but it would be worth it if it lead to revenues for both parties much sooner, and everyone wants revenues asap.

Additionally, I can see further urgency given to this project than the inital test years ago because the test given years ago was from the oilsands and not a drilled well. It has always been the sentiment that gaining profits from oilsands would be quite a few years away from any real take off at the time due to the need for companies to build oilsands plants in order for things to move, so the urgency on testing knowing any plant is many years away from being build puts the testing on a much lower urgency level.

However, Valkors current project is a drilling project which is a quick, tried and tested way of oil extraction with an extremely quick turn around once permits are granted allowing revenues to flow in weeks or months instead of years. So both know that the sooner this oil is tested the quicker it can be rolled out, making the urgency level for testing much higher due to the much lower waiting time for revenue generation.

However, will this be expedited? I certainly think so, but there is always the caution for the possibility it might not, but it makes too much business sense for both Valkor and Quadrise to spend a little more and expedite any testing. Time will tell, but I surely hope things move with pace now the ball has started to roll in Utah.

Well this is some very good news indeed and begins to push back against the negativity surrounding the Utah projects as a whole. Whilst this RNS doesn't not confirm Valkors receipt of their full funding which we'd hope for, it does however confirm that they have recieved partial/substantial funding to kick start their project, and the permits, arguably the most lengthy and most important part of all this, as they now have no barriers to getting these wells drilled.

I personally think Valkors full funding may be subject to dependency/reliance on the inital pilot wells being drilled and tested, which has been set by the funders. It would make sense as a funder/buisness point of view for such a project that you'd reduce your risk however you can, and staggering funding depending on certain milestones and results being hit.

I'd expect full funding to be offered to Valkor once the wells have been drilled and the oil has been tested by Quadrise, as if the funders get approval from Quadrise that the oil is viable for Msar/BioMsar, then that could be a trigger for the funder to gain additional confidence to pursue Valkors project further. If I was a funder that would certainly be how I'd go about lending any money, especially given how unsuccessful oil projects in the Utah area have been over the years, not due to the lack of oil but mainly due to the cost of doing so.

However, given Valkors ability to make the oil extraction in the Utah area greener by Co2 sequestration and making it an even more premium product via making it Msar/BioMsar without the need of further costs via refinement, then it would reduce costs significantly whilst also making it a premium costing product, thus making it a very profitable venture. But caution is no doubt still being taken by the funder as I'd expect.

I feel that now the permits have finally been granted and Valkor has already been given partial funding to start it all off that we may finally see some actual movement in Utah, and given Valkors timeline push of weeks, then it would seem they are very eager to expedite this project as much as they are able, which only bodes well for us. I do hope all is successful and full funding is given and then the additional permits for their much larger scale drilling operation is granted, this could be highly lucrative for Quadrise if all goes well.

As sceptical as I have been on Utah due to its glacial paces and other seemingly failed projects I've ivested in over there, I certainly wouldn't underestimated Utah if things can lift off there, as there is always the chance that if Valkor gains a success out of this that other struggling oil producers in Utah may see the profitability of Valkors project and may wish to copy them via seeking a licence to use Quadrise's technology which Valkor may gain from due to the exclusive rights given to Valkor, making its proliferation in Utah a bonus for both parties.

HF, it may well have been with the lawyers for longer, but we can only speculate on when it all started, but if we go off the facts that we know of, then the 27th of November is the only date we can pin anything on regarding the negotiations, anything prior is speculation.

To be fair to Whisky HF from the 27th Nov 23 to present its 4 months and 22 days. So he is right on that front. As I said, if you only count the months it visually looks like 6 months, but its technically not.

Thats fair Whisky, it was mentioned near the back end of November on the 27th, I guess when just looking at the months and not days it makes it visually look longer than it is lol. So I revise my statement to clocking 5 months not 6, which may reduce the waiting anxiety a little less, but there is still an ever creeping concern as time ticks on.

And Light, I do hope its just that, a lawyer delay thats being overzealous in the time its taking. But even then, if they are arguing over terms and concessions that it isn't causing any real concerning friction as despite reasurance that its "with the lawyers" there is always the ongoing concern that someone may simply not budge on something causing the whole thing to either be wholly rewritten or someone removing themselves from the deal itself. Ofcourse thats just my pessimistic side creeping out on the large delays we are experiencing, but hopefully its just all textbook lawyer in fighting of minor issues which wont be deal breaking but is just taking more time to reach a stable agreement. Fingers crossed and toes crossed its just as JM says and its a waiting game only, but unfortunately JM isn't known for the accuracy of his words lol. Oh the joys of investing.

For once HF I have to agree with you that there is a certain degree of concern surrounding the signings of these contracts. I know JM has always stated "Its with the lawyers" and that nothing else untoward is delaying it other than admin. He also stated that the way large companies like MSC and Cargil operate are on a priority basis where the agreement is no doubt under a pile of paperwork waiting to be worked/signed, and as the pile gets sorted in priority order, it means that if a constant flows of more important agreements/cases come forward we will be pushed down the queue.

This is all well and good and gives the feeling that maybe MSC and Cargill have much bigger contracts on their tables which require more attention than ours leaving us twiddling our thumbs on when they will finally get around to us. However, as pointed out, it has been almost 6 months since we were told the contracts will be signed imminently, and we are still no closer to knowing when that will be, and the longer it is taking the more my mind delves into the realm of concern on if it truly is just an admin and priority delay problem, or if something else is holding this signing back.

I expect things to take time, but when you are almost 6 months down the line from when our own CEO thought the signing was imminent within days/weeks it becomes abit daunting and concerning on why such a long delay has taken place. In addition to this, its not like Cargill or MSC are at the mercy of a third party lawyers who have time constraints and other clients to attend to, as they have their own internal sector for such things which makes this delay even more suspect.

I hope my mind is just toying with me and making me concerned over nothing, but the delay is becoming a little extreme, a few weeks to maybe a month or two delay for admin issues sure, but when you are clocking upto the 6 month line, it then starts to raise questions on if this will happen rather than when. Ofcourse, no RNS has come out with any real concerns over this, and JM has constantly thrown the line that its a waiting game, I just hope it is just that and nothing more.

Not sure who you are targeting with that insult Mooch. But either way it's uncalled for. A persons IQ has no bearing on a persons music tastes. If it was directed at me, then I personally have never heard of this singer, so why would I have any prior knowledge of your cryptic talk alluding to their lyrics. Also, before I commented I had never scrolled down to read your comment anyway, not that it would have helped, so please keep your insults to yourself or at least think of why people may never get your so called pun before spouting salty insults.

Just a quick google of this Jonny Mathias brings up a guy with a net worth around $400 million, a singer who is from Texas of all places and is well known as a stock investor of all things. Given the run down on this guy, the close matching of the name despite some minor differences in spelling and where he is from, it kind of matches the guy who bought the holdings. Whether it is this guy or not is anyones guess, but I'd say theres more evidence for it to be than not.

https://www.therichest.com/celebnetworth/celeb/singer/johnny-mathis-net-worth/

@Bear

If Tomco is a share you feel more positive about than all your other shares, then you must have some serious faith in them. I wish I had your optimism, but for me personally this investment has already been written off as a dud. I can only hope for a miracle to revive this share. Its 10x down my average right now, so even if funding was agreed depending on how the funding is structured, then I'm still only expecting to break even or maybe 2 bag my investment at a maximum push.

Given Tomco seems to be prioritising the option of selling off of most of Greenfield to aquire the funding, then I think I'd be lucky to even break even on that kind of deal, as I personally doubt we would retain more than 10% of the stake in a sell off of Greenfield for the required funding, which would significantly affect how much we would mutibag compared to if we secured 100% funding ourselves which I think given their struggle over the 2 years or more is highly unlikely. But as i say, I can only hope for a miracle lol.

From my perspective it certainly is wishful thinking on his behalf. I feel he is JM only stated end of Q1 because if he said anything different and said end Q1 early Q2 then the SP would react negatively, so he is just simply sticking to the current timeline even though my gut tells me he knows there's is very little chance of it being signed in Q1 and more like sometime in Q2.

There certainly are a couple of days left and there is always a possibility for something to be announced before the Easter holidays. However, personally I have my doubts we will get anything now with it being so close to a 4 day trading shutdown for Easter. Even if it was signed tomorrow, they could sit on the information and drop it after the holidays have ended as nothing overly positive would come for the shareprice for news to drop just before a long trading shutdown where news would rise and gradually fade over the holidays. Sure, you could say there would be pressure rising to buy as trading resumes, but that pressure wouldn't be anywhere near as much as it would be on a nice open week.

Strategically, if news were to drop anytime tomorrow onwards I would expect QED to hold onto it until after the Easter holidays and drop the RNS when trading resumes on a mostly open week. They are duty bound to tell us of shareprice shifting news within a prompt manner, but it doesn't have to be immediate. The RNS itself may take a couple of days to draft depending on its scale.

Anyway, I'm fully expecting this to drag on into April sometime myself, but thats just my own gut feeling. I just hope we get something other than "you know just as much as we do, as far as we know its still with the lawyers"

Not sure about others, I'm with Hargreaves lansdown and have just received my OO letter telling me my entitlement and I now have a button to select for the OO, but cant do anything just yet.

@Muvver

The key reason no company has made a move to buy us out is the simple fact that our product has not been signed off via the LONO. In order to look attractive to be bought out, you need something better than an Idea or something that could potentially work, you need something that has been unequivocally proven to work and is supported by third parties (LONO) to do so. Who in their right mind would fork out potentially hundreds of millions bordering on the billion mark for investors to say yes, to buy a company that currently has zero stamps of approval. In buying something like that you buy at a substantial risk, no thats not to say our product is a risk, we all know the tests have always come good, but we need certification before anyone will look at us with real interest, that is simply how business is.

Now you may say, but a few hundred million or more to a company like Cargill, MSC, Shell etc. May be pocket change, and you'd be right, but that doesn't stop them from avoiding financial risks, if anything larger companies are more likely to wait for a technology to be proven before they show any interest as like said before, they have the money to wait and buy at a higher price for something proven, that way they buy at zero risk and if they buy at the point its proven, then the chances are they will still be getting a great deal as the growth projections would be higher from the point they bought the company at rather than waiting until QED became a global company. Its all strategy, and buying us now for most companies would be a fools errand before we are yet to be proven commercially viable.

HF, I cant ever remember any placing not dipping the SP lower than the offer price, it's usually a given unless you follow it by exceptional news which would be a rarity. Don't think many can say that the weren't expecting a SP nosedive, I know I was.

As techy says, the Placing/subscription was whipped up and pretty much already a given by the time it was announced, which means the £1.5 million was already in the bag before the announcement as II's took the full amount offered to them without hesitation. I have no doubt in my own mind that if the full amount QED were asking for went straight to II's that it would have been fully subscribed aswell, the fact they are giving shareholders an opportunity to raise the extra £1 million is not because they couldn't raise it with II's, it's most likely simply done as a courtesy for the layman shareholder by giving us cheap shares as a gesture of goodwill. They could have easily shut out the average joe shareholder and gotten all the cash they asked for via the II placing.

If I'm able to, I'll certainly be taking my allowed portion, as despite the setbacks, news will be inevitably edging closer, and if we do get that QED, Cargill & MSC agreement all signed by the end of this month as the anticipated, then we will certainly be rising north quite abit, especially now the funding has been resolved, even if it wasn't the avenue of the funding itself wasn't what people wanted, but what matters is that its sorted for atleast a year or so now.

Settlement of the placing is the 26th of March, I'm interpreting that to be the end of the placing? But its possible it could be extended to the 31st of May. Not sure if I'm taking that right, if so, then I hope it is extended as I'd like to buy some but payday is at the end of this month so I'd just miss out if it does end on the 26th of March.,

Wish they would make these placements to cover the end of the month where most working people actually get their paycheck lol. Then again, its very possible it may dip below the offer price and if it does I'll just have to buy on the market if it dips on or below the offer.