Member Info for dustofnations

The major issue seems to be that TOM and their partners have been unable to get the Utah DOGM to approve their pilot well plans in a timely fashion.

JP was always, IMHO, overly bullish about the timelines for getting their plans approved — there has never been a heavy oil project of this type in Utah before and they literally needed to get a Utah state law changed before they could make any progress (which ate a lot of time).

There may be something of substance in terms of "potential funding" claims, but I would speculate it's locked up behind the DOGM pilot well approvals, which outwardly does not seem to have made much progress for many months.

All things crossed for this to be turned around.

They have still not managed to get their initial wells approved.

Unfortunately, still looks like nothing has happened on the wells approval side of things.

She's on there
https://www.transnetportterminals.net/Ports/Stack%20Dates/NGQURA%20%20CONTAINER%20%20TERMINAL.pdf

Rotary calciner (or rotary kiln, possibly — only difference is direct vs indirect heat). They are used to dry and treat mineral products such as phosphate. There are some pictures floating around of the PoC if you look on some older QFI presentations.

I don't think it is deramping to point out that Zak Mir's predictions are worse than a coin toss!

BTW, I noticed she had a bunkering barge alongside for about 3 hours, which means she could be filling up for a long trip.

Her current classification society extensions expire on 21st March, so I guess she'll need to be over there before that date (or get another extension — though that seems unlikely at this point as she's already had a couple and they are conditional).

So, don't be surprised if the dates shift around a bit.

Zak Mir is the modern equivalent of a Haruspex; he divines all kinds of "useful" information from animal entrails and the leaves at the bottom of your tea cup — sorry, I mean magical share price graph shapes.

He's either just telling you something entirely obvious that didn't require special skills to infer, or a load of tosh that is just randomness in action. He only reminds people when he was "right" (correlated).

I don't think anyone is making big fuss. But, it's a step forward having removed a significant blocker.

Sorry, small typo/brain explosion on my last post. I meant Netherlands and likeliest area is Rotterdam, not necessarily Amsterdam.

JM said QFI are focussing on Amsterdam as the Marine LONO supply location as it has ideal conventional and biofuel bunkering infrastructure, refineries for conventional resid, plus proper tax recognition for blended biofuels such as bioMSAR.

Not to say that was set in stone or other locations like Cepsa's San Roque are not on the cards, but just putting that out there as the last bit of advice that was offered.

It would be great to tie multiple supply locations up, but I'm sure we'd take any decent arrangement at the moment given the length of time just getting the trials supply agreement is taking.

Looking at the Utah DOGM data explorer, it does not look like the permits have yet been granted by the department for the trial wells, so I guess that's what is holding everything up.

No, "mate". You are spamming the board because you're trying to drown out the normal posts with ramparoni so that casual passers-by who are looking at "top climbers" list only see your rubbish, not realising you are just trading and not a LTH.

Can you please stop ramping? I can see from your post history that you hop onto all kinds of shares to ramp and trade them.

We really don't need that here, thanks.

History suggests taking the Utah timelines with plenty of salt.

I think it's impossible to guess at the moment, Wazaa. Any numbers would almost be randomly generated:

1) We don't know what the contracted volumes will be (vaguely: a couple of MMUs with initial use-cases rolled out over time).
2) We don't know the refinery and type of integration that the fuel will come from, which will definitely affect QFI's margin (i.e. if it's tolling they will get a much better margin).
3) Fuel pricing and spreads have been very volatile.
4) We've not signed any commercial deals before, so the theoretical split might be very different to the real split, especially for our first large-scale commercial client.

That said, a much higher SP than now and it would unlock much better financing options.

So, I greatly look forward to this trial finally being executed and entering into commercial discussions. Whether that commercial deal closes before we need to raise new money is questionable to me, but let's see what unfolds.

Likeliest fuelling location has been mentioned as Rotterdam. So post-drydock, she'd likely be put on a route that takes her through to Netherlands, where — assuming they can finally get their supply deal sorted — the trial can be kicked off in earnest.

I think you're referring to 'API Poly-GCL' for the Chinese one — and indeed, that one appears to have been a dead-end.

Tuckman — agreed BoB could be a way of getting things going, but only if MSC and Wartsila will accept emulsified HFO as a proxy for MSAR derived from resid.

Funnily enough, I recall that the idea of BoB was brought up by shareholders donkeys years ago and dismissed out of hand (as per usual!). NIH :o).

Hoping we can get some positive news soon and the breakthrough needed.