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I notice HVO holders fighting back by posting on the (Totally) TLY board. Can I suggest people stop bothering posting there?
It is merely encouraging stt1/Singh to continue with his tit-for-tat nonsense as revenge for dunking on one of his favourite stocks.
Anyway, no more on Singh!
I hope all HVO holders have a great weekend. Fingers crossed for the first spell of decent weather this year.
From Trio Petroleum Corp: https://ir.trio-petroleum.com/press-releases/?qmodStoryID=8770630253578057
"""
The Company is also announcing the commencement of drilling activities on the Asphalt Ridge project in Uintah County, UT. A rig is scheduled to be on site this Sunday, and to drill and complete the Company’s first well on this asset in the next two weeks. Drilling results are expected to be readily available shortly after the well is drilled to a total estimated depth of 1,200 feet. The project targets a highly promising heavy-oil tar sand field that is expected to be densely developed at scale, with as low as 2.5 acre spacing for future wells. Through existing working interests and option agreements, the Company has the ability to take up to a 20% working interest in this project.
“These are positive next milestones for our Company,” commented Michael Peterson, CEO of Trio Petroleum Corp. “It is very encouraging to see these next steps happen in the transition from the exploration and de-risking of these promising oil and gas assets into potentially scalable cash-flowing resources. We look forward to providing further updates as we drill our first well on the Asphalt Ridge Asset and restart production on additional wells and selling of oil produced from both the McCool Ranch and Presidents Fields in the months ahead.”
"""
(References to McCool Ranch and Presidents Ranch are not related to the Utah project)
Valkor not Valcor.
Valcor is a completely different engineering company.
[And The Valkor Group more broadly*]
I personally do not find TomCo credible any more after their antics with "funding by Easter" for 3-odd years, and brutally diluting shareholders on a regular basis.
I think Heavy Sweet Oil are the company to pay attention to.
Elements of common ownership/leadership. Steve Byle founded/cofounded the various companies involved (Valkor, Crosstrails, HSO, etc).
Thanks, @BurtonD for the link. 35-40p seems eminently achievable in the medium term based on a comparison with HVO's CRO peers (P/S, P/E, EBITDA, margin, forward revenue visibility, excellent business plan, high barrier to entry for competitors, etc).
I'm delighted to have HVO as a core holding in my portfolio — its consistent delivery has been absolutely wonderful.
Those attributes do make one wonder whether we will become a target for takeover at some point.
Brian — the existing HSO approval from the DOGM Board were for exceptions to normal spacing rules and approval for the project at a high level. HSO did NOT receive drilling permits and various underground water permits at the time for the wells — the department (DOGM) itself still needed to issue the permits.
They appear to have issue 1 as of last night.
The data on permits is available freely online.
There you go:
https://tinypic.host/image/image.DRRxPc
From open source data, I can see that HSO only currently have 1 well approved (finally) as of last night.
[Usual caveat that this data might be in the process of being updated].
Evidently DOGM are demanding to see the results from a single well before they approve the rest of the pilot project wells. That seems a good compromise to get it going, considering the multi-year delays they have inflicted on Valkor/HSO/etc.
Once HSO (hopefully) succeed with the pilot project, they will have to go back for approval for the full project. Hopefully they will find a way to resolve things with Hoodoo to avoid them gumming up the works again.
Ian will be focussed on non-challenge study aspects of the business. You can get some additional context on LinkedIn: https://www.linkedin.com/posts/hvivo_newhire-growingteam-hvo-activity-7185920971818586113-hFFA
"""
In his new role at hVIVO, Ian will be responsible for targeting non-challenge studies (Phase II full service), site services (Phase II-III), and virology laboratory services, and he will play a key role in diversifying and expanding hVIVO’s portfolio of services in these areas.
"""
Egle Pavyde also celebrated his return on LinkedIn, so it all seems fine.
I suspect this hire is part of pursuing the strategic expansion of the non-challenge study service aspects of the business that Mo has touched on a few times. He believes it will be highly synergistic, allowing cross-selling of challenge studies in a seamless way.
Probably just something to do with your broker taking a while to do the necessary administrative actions.
My Interactive Investor excess shares only just came through a very short while ago.
Fyoz - I agree, I think the algorithm used by the open offer itself encourages people to apply for greater excess (by rewarding larger excess applications in the case of a scaleback). At least if I understand what they've written correctly.
Whereas when the 100% cap is hit, IMO, brokers should consider more factors, such as how large a holder's original shareholding is, fully fill modest applications first, etc.
Most retail investors are hidden behind a broker nominee, so the company only sees a single account from your broker that aggregates everyone together (i.e. thousands of accounts).
As far as I am aware, the broker has the ability to distribute that (aggregated) excess allotment amongst their retail nominee accounts according to their own procedures/algorithms. So what you get might not precisely match the methodology described in the circular because of your own broker's procedures.
Mr. Singh always feels the need to latch onto new tangential topics where he believes he may get some purchase, having been thoroughly debunked.
His behaviour is definitional Sealioning:
https://en.wikipedia.org/wiki/Sealioning
Demanding evidence and debate, faux expressions of 'concern' and civility, filling the boards with bad-faith nonsense designed to exclude beneficial conversation.
Sealion Singh outwardly humiliates himself on a frequent basis, but is undeterred from his mission.
For example: Air pollution is well demonstrated in the literature to be a significant cause of asthma exacerbations.
Ideally, you would want to control the quality of the air participants breathe during a pioneer/challenge clinical study, given asthma is a respiratory condition.
Outside of a challenge model in an advanced facility such as those offered by hVivo that is very difficult to achieve, given this is an ambient factor that one cannot control (e.g. traffic, poor indoor air quality, etc).
Here's a meta-analysis:
https://www.thelancet.com/journals/lanplh/article/PIIS2542-5196(22)00302-3/fulltext
You will find numerous studies over decades showing this. There is nothing to argue about.
The team have mentioned this is an area of interest for them to get into, regarding challenge studies.
Yet Sealion Singh will continue on arguing regardless, because it's his job. He has not even the most rotten of wooden legs to stand on. He's the equivalent of a pub bore talking over everyone else.
Sealion Singh doesn't deserve the expertise or insight of this group; he humiliates himself with his lack of knowledge of science, finance, business, and accounting.
For example, Sealion Singh doesn't seem to understand how fixed instruments work.
Sealion Singh has more than earned his place on my filter list, and no doubt his various aliases shall join eventually.
Hope nobody was getting a high blood pressure from some of the nonsense posted implying that the OO would be undersubscribed and the team were scrambling!
In the last raise, the results were announced a short while after 15:30. There's probably a variety of administrative stuff that needs to be achieved before the RNS is released, so it will vary depending on procedures/timing, etc.
My understanding is that Valkor are pursuing *both* surface and subsurface approaches in parallel with different partners in different areas.
Trio Petroleum and Lafayette Energy are funding partners on the downhole project;
Ecoteq + private financiers on the surface tar sands project.
As you say, Valkor seem to be struggling to finance either initiative. Which is odd, given the amount of money sloshing around from the Inflation Reduction Act.
Huff n' puff is injecting steam (water) into the subsurface to heat and liquify the solid bitumen. In later phases, they say they will inject CO2 for enhanced oil recovery (EOR), which will generate "low CO2 oil" as much of the CO2 remains in the subsurface. It sounds like an accounting trick, doesn't it (too good to be true)...
I agree that the path is long for either Utah project. In theory, the downhole project should be very simple, but due to Hoodoo, they're likely to be embroiled in legal shenanigans for years.
A shame, but I've personally put Utah into the "bonus if it happens" category.
Well, Mr Singh, your response amply demonstrates that you have no domain expertise to make sensible comment on either the business model nor the biotechnology aspects. And you have subpar reading comprehension skills.
I'll explain it in very basic terms given your simple-minded nature.
Many clinical trials are disrupted by participants not being in a controlled environment, this is because statistical "noise" is introduced into the data by uncontrolled variables which are difficult to eliminate without greatly increasing the size of the trial and/or trying to control participant behaviour (which is difficult).
https://en.wikipedia.org/wiki/Confounding
This is especially true of environmental and dietary factors, which are very important in autoimmune challenge trials. For example, if one is doing an asthma human challenge trial, then it is very obvious that air pollution is a highly salient factor.
The inflammatory markers that would be observed during an autoimmune challenge trial are quite fast acting and could easily be captured during the normal challenge trial period (up to 14 days). As you would expect, the immune system is very capable of acting quickly, especially the inflammatory part, which is the "first responder".
Other institutions already do such autoimmune challenge trials, but on a much smaller scale (e.g. a handful of participants at universities). This is fine for pioneer studies, but doesn't have the statistical power required for progressing to the next phases of clinical trials.
Autoimmune disease is a huge source of morbidity and it is notoriously difficult to study. There is a lot of unmet need. Hence, it is likely to be an excellent new area that HVO could grow into in future, whilst making use of their current facilities.
With that, we can dismiss yet another foolish screed by someone unwisely gambling against HVO.
An excellent presentation.
I was delighted to have my question about challenge trials for non-infectious disease answered in so much detail by Mo — thanks, Mo, as always. My example was autoimmune diseases such as psoriasis, but Mo also mentioned asthma and allergies.
Ultimately, there is a rich vein of data to be collected by monitoring inflammatory markets and other biometrics in response to therapeutics (and possibly challenges by allergens).
In the real world, trials are often confounded by environmental factors and the lack of continuous data collection on volunteers (e.g. did the patient breathe in some polluted air; did the patient eat something that triggered them; etc). Having a strictly controlled climate and diet controlled environment with continuous biometric monitoring would provide much better datasets!
Mo's answer was, to paraphrase: we're focussing on our core competency of infectious disease for now, but non-infectious challenge trials are a promising area of growth we could branch into in the future.
It was a wonderful answer; it shows forward thinking and planning from the team, yet acknowledges that there's current still plenty of untapped demand in the pathogen-based human challenge trial market to address.
My only minor nit is that I'd have loved a more substantial special dividend on top of the nominal dividend; but let's see what/who they acquire with circa £40m cash.
(p.s. I also was glad to hear that they're putting the cash into instruments that are achieving a decent yield of 5%+ — like UK Govt gilts or similar).
AIUI, you generally need a direct relationship with a broker to be invited to participate in a traditional placing.
Typically, those are people who are HNW, institutional investors, etc. I'm not sure whether placing shares can go in an ISA, whereas OO definitely can — I think you may also need to be classified as a sophisticated investor depending on specifics.
Hence, employees who wanted to participate using their ISA were likely best served going in the OO. Remembering that they committed before the rescheduling.
As a final point, some of the staff participating were either participating for the first time, or taking well in excess of their OO entitlement. They potentially would have fallen short of their stated figures if they relied upon the OO. This would have been negative PR. For example, Vicky had no opportunities to buy shares until now, and hence her OO entitlement would have been zero.
Incidentally, getting around these annoyances are where platforms like PrimaryBid are useful. They allow retail investors participate in the directly in placings, and it is now possible to subscribe inside of an ISA (unlike previously). It is also far cheaper than an OO to run.
Something for them to bear in mind for future... But you would hope they won't need to!