Member Info for dustofnations

I think that's just a placeholder Tetrolite

Tetrolite, I use ii and haven't received any confirmation yet. Money is still locked up in pending state.

Sorry @Rge_master, you're too late. The offer closed yesterday afternoon.

It appears they did not participate in the retail offer. https://www.bookbuild.live/deals/L7PW01/authorised-intermediaries

Hopefully they'll even fix the spelling of Hargreaves Lansdown (not Landsdown as it has been incorrectly spelled on their website for about 5 years now, lol).

There's a huge difference between an investor with a bearish opinion and a short troll.

Sharebel is a notorious troll.

Read the account history and you will see it for yourself that it has done the same thing with numerous different shares, falsely claiming illegal forward selling of shares, saying a share is going crash, gloating about the SP going down, etc.

I suggest nobody put themselves out defending Sharebel, as you're accidentally going to bat for someone who is making money betting against your company.

Probs was too late for the RNS to come out tonight after they finished everything, so I expect it will be a 7am job.

In the first bit, I believe SB is talking about the approvals Valkor/HSO received at the UDOGM Board to drill with reduced well spacings versus the normal UDOGM rules.

Given the recent latency between well permit requests and approvals I can see, I would speculatively anticipate approximately late Feb for approval , but that's just using a few datapoints.

@Willswag, not sure if you caught the nugget in the Q&A that they are renting mini MMUs from our MMU manufacturer, ENH Denmark? That means Quadrise still have a spare full-sized MMU to deploy to the Mediterranean refinery if/when needed, in addition to the one that's already being prepared for the MSC trials.

Of course, it may be that if things continue going well that Valkor will need an additional full-sized MMU by the end of the year, but this gives us tonnes of flexibility.

Because it is not an open offer, it is a retail offer. They are different things, and some crappy brokers seemingly don't support retail offers properly.

KK253 - sadly, zero-cost brokers like T212 offer nearly zero customer service, and their staff are offshore and not empowered to do what you need doing.

Yes, I think they are just formally letting people know that they have expanded the retail offer to the full £2 million that they are permitted to. I think the offer will officially still close later today (in about 1.5 hrs). No doubt they already blasted past that number and will do scalebacks.

To be fair @gr1bbler, this seems to be a change of policy.

Previously, Quadrise told us they'd not announce when the OCP trial began and only the results, once completed.

I guess the team have responded to the pressure applied at the AGM and feedback other many occasions that this is resulting in unacceptable silence and shareholders being left in the dark.

Whilst I'm not happy about the delays over in Morocco, I feel much better about there being some transparency on the schedule (even if it's just tentative).

Given the client keeps changing the schedule, I understand why Quadrise wanted to avoid a running commentary, but I think we also deserve to be kept in the loop on this very promising (but sometimes frustrating) project.

Being 'left in the dark' just results in unnecessary frustration.

> iam aware a questions was sent stating 'Is it fair to say OCP are in no urgency to start the 30 day trial ?' This question was ignored.

Is that your way of saying that you sent that question?

Your question was answered. It is #45.

Q: Is it fair to say OCP have no urgency to start the 30 day trial?

A: No, we are in frequent contact with OCP regarding final preparations and schedule for the 30 day trial.

Ii let me do it with ISA no problem

It was superseded in 2015 by a modification that meant it expired on 10th anniversary after first commercial Marine MSAR production following trials.

"Shareholders were also advised that the Company has agreed with Maersk to novate the long standing Royalty Agreement to Maersk Line (the Maersk group shipping company) and to extend the term of the contract from December 2022 to the tenth anniversary of the date of first

fully commercial production of Marine MSAR®. Another important clarifying change to the agreement is the inclusion of a contractual commitment, by Maersk Line and Quadrise, to the commercialisation of Marine MSAR® to the shipping industry in the global marine fuels market subject to success with the extended operational trail and associated LONO certification."

However, QED have strongly asserted that Maersk did not hold up their end of the bargain which required Marine MSAR commercialisation, promotion, etc.

So, I don't think it's a problem.

https://wp-quadrise-fuels-2020.s3.eu-west-2.amazonaws.com/media/2020/03/09135232/QFI-DEC-15-Interims.pdf

You really remind me of Tim Kempster pretending to be a moron.

Commercial contracts between business entities tend to be interpreted more strictly and literally because the parties are considered to have equal bargaining power, the ability to negotiate, and to have actually taken into consideration its implications.

That's very different to selling a service to a punter where the terms and conditions are often non-negotiable (contract of adhesion), or there's a power disparity (e.g. unreasonable terms in an employment contract).

That said, I don't even know which jurisdiction the Maersk-Quadrise contracts were in. Could even be multi-jurisdictional with multiple separate contracts. These things are often very complicated.

Quadrise's view has long been that Maersk did not fulfil the terms required to qualify for a royalty.

If you mean in the strict sense of consideration, that's one for the contract lawyers to argue about after absorbing every last detail of the contract, which we'll probably never see!

Hopefully this will never be a problem.

@Wazaaa, my experience working with large companies has been that their lawyers (a) take ages; (b) love to add unexpected and unnecessary complexity. Without meaning to sound cynical, I do wonder whether it's to justify their existence to a certain extent because it's often far beyond what's necessary and into "I must be seen to be doing something" territory. Working with smaller and medium sized companies it's usually much more 'to the point'.

So, bilateral signing delays could again be a case where a counterparty has insisted on some changes/additions where it was not anticipated before; perhaps it'll add a few more weeks (purely as an example). In the grand scale of things, a few weeks here or there is not hugely impactful. IMO, the main thing is the project as a whole continues to make steady, visible, progress and validates the counterparties are taking the MSAR/bioMSAR project seriously, and will see it through. Long silences and long periods of inactivity are not acceptable.

My point is more that whether one should worry about a delay depends entirely on the reason. If it's just scheduling, 'corpo lawyers being corpo lawyers', etc, then it's not a concerning thing (IMO).

IMO, it is very much in the hands of the business development team, @Wazaaa.

There is an impressive pipeline, including several projects that are supposed to be executing key milestones in each quarter (including this quarter). Look at the presentation slides 11 and 12.

I think it's fair to say this is the best pipeline they've ever had? Certainly since the KSA-Maersk-Cepsa days, at least.

If these projects go ahead in a timely fashion, then we will surely continue see the SP reflecting the continued growth in value of the company. I personally didn't think that 7p+ was a crazy valuation, given what is in progress.

But, I understand and 100% empathise with people can sometimes feel a bit sceptical until they see those bilaterals signed and fuel being pumped onto Leandra V.

I agree with the very wise words of people who have spoken today to ignore aggressive 'bully ramping'. There is a fantastic opportunity, but levelheadedness and patience is always required.

Hat tip to @SempahorRed, @Crownos, @Chequepal, @Prep, @CFP, @Whisky, @Dunwerkin, and several others who have made some really excellent points in this thread.

(By the way, I loved the comment from NimbleNana; I just celebrated a birthday with a grandmother who is well over 90 and still living independently for now.).