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In the results (5th Oct), QFI announced the teams would be onsite very shortly in Morocco to perform the pilot trials (and various other bits relating to P2 plan). At that time they said, "With the client site in Morocco currently accessible, subject to conditions, our team are due to travel out to the site within the next few weeks. " and, "we now plan to complete the trial in October 2020."

So, hopefully we should get news this month.

Quadrise partner & agent Aleph Commodities acquire majority stake in InterTank

Discovered by Rich Pickings on QFI Shareholders' Forums:

https://www.investegate.co.uk/aleph-commodities/eqs/aleph-commodities-acquires-majority-stake-in-intertank/20201008123003EUPYT/

https://itank.se/en/

https://www.linkedin.com/posts/quadrise-international-ltd_a-prompt-proactive-approach-means-weve-activity-6719611337267265536-8OqG

LinkedIn post from QFI on Covid and results. Nothing new, but may interest some folk.

""
A prompt, proactive approach means we’ve been able to mitigate the potential impact of COVID-19 on business development and project activities, enabling us to continue to build positive momentum over the period and demonstrate significant progress in a number of key areas. [...]
""

Whole market down today quite heavily from what I can see, so it's nothing QFI-specific

TechyRob, I agree with your thoughts.

Given the strength of this report, in times gone by it would have resulted in a rerating of the share price. But, given QFI's historical misfortune on a number of projects and the current covid situation imparting additional uncertainty, it's not entirely surprising that the market has not appreciated the potential of the pilot and commercial trials that are lined up.

*This month* QFI engineers should finally be running the Morocco pilot trials, this will be followed rapidly by phase 2 commercial trials on a much larger unit (20t MSAR burn on kiln mentioned). As outlined in the report, there have already been a bunch of ideas from the client about using MSAR on other equipment: calcinators, kilns, boilers, etc.

In December QFI engineers should be running the MSAR portion of the POSP commercial MSAR trials.

Yes, I do believe it will be proven commercially viable, and I explained why in my post in some considerable detail. Please refer again to point 2 in the response section.

Here is a full article on the topic: https://quorumzine.gitlab.io/quorum/content/2020/07/20/quadrise-msar-asphalt-ridge-analysis.html

Not sure that's quite right.

Petroteq have had no problem getting oil out of the ground at POSP; they've been doing it for the last couple of years. Their issues have been (1) with getting a robust and reliable design that can work 24/7 through the Utah winter and process higher volumes of product, and (2) the economics of upgrading the kerogenic crude to WTI spec has not proven to be particularly profitable. However the extraction of the bitumen product itself is low-cost.

So, they can indeed get the stuff out of the ground (your original claim), and they can get it out of the ground relatively cheaply (your second claim).

(1) Is resolved by the new design and upgrades that Valkor is installing now, these improvements will feed into the 10k plant that Greenfield JV is proposing (TomCo + Valkor). It is designed to allow the POSP to process higher volumes of material and with greater reliability, including through the winter.

(2) Is resolved by the addition of Quadrise MSAR, which displaces diluents used to upgrade to WTI spec with water, producing a premium bunker fuel sold directly to consumers. This will be added in December, and is likely the main purpose of the testing process to prove the process in-field during winter, prove the local consumer market, and tweak and optimise the design both for POSP and 10k purposes.

Purely from a humanitarian perspective, I am eager for the work Imutex is doing on mosquito-borne disease and broad-spectrum influenza to get out there; it's really fantastic technology with a lot of promise. The market is hopefully primed for accepting and understanding the value of such vaccine technology, and we could use some of the covid-related momentum to make an impact.

Elir71, definitely a case of the market waiting to see what happens with Morocco, Utah, and 2x marine clients. I think progress this quarter will surely give a strong indication as to which way things are going.

Hopefully the positive news-flow will continue and we can move see business development moving in the right direction, as we've seen recently with Utah and the reopening of Morocco to business.

There's not a lot ORPH can do if people in client organisations and/or government are leaking the information to the press. They can't disclose anything because it would be in violation of market regulations, so they're stuck in an unfortunate position. I think Cathal has really disclosed about as much as he could possible get away with (and I thank him for that).

Usually you can only get away with an RNS confirming/denying if there's a large SP movement.

QFI post on LinkedIn was this morning. Petroteq news was late last week.

https://www.linkedin.com/posts/quadrise-international-ltd_great-news-from-petroteq-energy-inc-that-activity-6716239251069112320-p_Rl

""
[...]

Modifications to the oil sands plant to connect MSAR® commercial production equipment and MSAR® test equipment are in progress with the intention to test our MSAR® technology to determine the value MSAR® will add to the produced oil before the end of the year.
""

We should see Power MSAR being produced and consumed this calendar year under the commercial trials agreement. Not that long, really.

If you listen to the investor meet company recording, they state that:

- They expect to gain entry to the site in October in order to run the pilot. This may change if the covid situation worsens.

- They have pretty much finished the desk work for the P2 trials, with some final details needed that requires on-site presence (see first point).

- Assuming the above, the hope would be that P2 could get underway Q4 sometime.

So, nobody is on-site right now.

Sorry my previous comment was only in response to blackwash and KSA. I don't expect Dussur to fund any projects outside KSA.

Hughjampton/Tim, as you probably know, Greenfield would raise the money on the basis of the independent engineers' report, FEED, economic study, and market study -- all of which will be finalised post-POC. That's some way off yet.

Steve Byle/Valkor is a very wealthy individual in his own right, but such large projects are typically financed via a combination of sources: banks, equity, investment funds, pension funds, bonds, etc. Owing to their partners they have access to both US and UK capital markets, debt providers, merchant financiers, etc.

The independent reports will aim to provide confidence for those large stakeholders to get involved. We shall see.

Dussur was mentioned in the open offer. It's a potential source of very significant funding for the JV, should that kick off (in-kingdom manufacture of chemicals, MMUs, etc).

Elir71, I guess you mean 2022 for full 10k production at Greenfield?

Quadrise partner Bitumina acquire 50% of refiner Nynas. They have 4 refineries throughout Europe, mostly bitumen and other specialty products.

https://www.linkedin.com/posts/bitumina-group_ownership-change-in-nynas-activity-6712007234148200448-E0V2

https://www.accesswire.com/606273/Petroteq-Energy-Announces-Pre-FEED-Study-Confirms-Lower-Costs-Increased-Capabilities-for-Companys-Environmentally-Benign-Proprietary-Technology

Some news regarding Petroteq's 5k plant idea. Yet more good news for QFI. Confirms this is a separate thing, and the design will be "cloned" somewhat from the 10k design.

It doesn't say it, but I think we know from the TomCo RNS that this design requires Quadrise MSAR to make it work with those economics. So, presumably we'll hear more about licensing as they progress this 5k plant. That might explain why they decided to license Greenfield directly rather than give Valkor general right to license.

Jolly good...

https://www.al-monitor.com/pulse/originals/2020/09/saudi-arabia-international-travel-coronavirus-flights-resume.html

According to this, some categories of international visitor will now be allowed from 15th Sept, with more reduction on restrictions from 1st Jan 2021.