Member Info for haggismchaggis1

Thanks Nick!

One bit for Detergent Warrior and his mate garmoan!

"AFC Energy is sourcing and suppling hydrogen to Keltbray on commercial terms"

Thanks Nick!

One bit for Detergent Warrior and his mate garmoan!

"AFC Energy is sourcing and suppling hydrogen to Keltbray on commercial terms"

As per post from Talais on advfn:

"From 2hours 12 onwards, from previous test they getting over 100bopd and that was conservative"

"If you listen to it , it seem to me that it could be towards 150-200 bopd per well, and at $300 a barrel"

What was stated as fact at 3h 26m onwards on the video:

Q: So, can you clarify for me who is the parent corporation?
A: The Parent Corporation of Valkor is one called Highlands Development Group LLC, which is a Utah corporation, okay?
Q: So, Highlands Development and Valkor is under that is a hundred percent subsidiary?
A: Correct, and then Highlands is a 30% owner of Heavy Sweet Oil, and a 25% owner of Tomco Energy the parent of AC Oil.

Pharoah,

On your calculations you say "362,000 bbl", but on the video only 170,000 bbl trial is mentioned.

Pharaoh,

I look at it this way:

QFI want the most attractive product they can offer their clients. Currently there is a choice of MSAR with some savings on cost and emissions, or BioMSAR with extra CO2 savings and green credentials.

Bring Utah into the picture and QFI can now offer all the benefits of BioMSAR but with th added benefit of low carbon, low Sulphur oil.

From the MSC point of view, they could take MSAR on vessels used with scrubbers, and BioMSAR if they want to reduce their CO2 footprint on top, something that is right at the top of their agenda. But with the Utah oil oil they can go even further on the CO2 reduction (du to no oil refining involved) and also get a low Sulphur fuel which they can use on vessels that don't have scrubbers fitted.

So my view is that there is far more going on between QFI, Tomco etc, and that what SB has said is very likely an option that QFI and MSC want to try out.

Wolferlaf / DoN,

The following is why I see the UIC permits as a formality. The board did not request follow-up, therefore I read it that the board have ordered the Division to approve the permits administratively, as requested by the Division. To me that says approve and then do the technical review afterwards. Once they have done the approval, the petitioners can start work and start feeding back data to the Division as part of the technical review.

"But once this, if the enhanced recovery project is approved today, then the petitioners will have to go through the UIC permit application process, and that is going to be a very technical reveiw, but if those permits are approved by the division administratively, as we will request that you order, at that point there will be no return to the board. So if there are questions on that issue, it needs to be addressed at this hearing because there won't be a follow up unless you requst it if you do some sort of temporary approval and request follow-up. "

"But that being addressed generally, the division is very supportive of this project. It's very interesting and exciting to see the technology being used in new ways, and the petitioners have bent over backwards to work with us and have been very cooperative throughout the whole process. So I think we probably can get to where we need to be."

Archie,

From the video:

"The other one is we are joining a trial with a containership company that wants lower, you know, carbon footprint oil. And there's a way you do it where you take an emulsion of the heaviest part of the oil and you mix it with water or a combination of water and Bioglycerin and it gives you something that looks like a gas oil which they can use for ships, and because it hasn't been refined is just a mixing process, it has a reduced carbon footprint and that is advantageous to them."

My view of the price action is that buyers are still waiting for the news from USA to say that funding is in place.

Now that the project has been approved and all that appears to be left is some formalities, the funding news could come at any time (USA time, not UK time!).

News from USA this afternoon??

News from USA this afternoon??

blackwash,

Yes, it looks like everyone is batting for the same side. Questions will be raised, and satisfactory answers/solutions will be worked out between them. All of them want this project to go ahead and it's easy to see why, with Utah leading on low carbon, low sulphur oil, and BioMSAR to the biggest shipping company in the World.

Wolferlaf / DoN,

Ok, thanks! I'll have another listen at the weekend if I have time.

How many years has Detergent Warrior and his mate garmoan been telling investors how much better ITM is compared to AFC? Many, many years!

The ITM news today is battering their share price and impacting the sector (when it shouldn't, as the issues are isolated to them).

Here's what they've said today as part of their trading update:

Due to manufacturing issues including delays in finalising the tooling and testing of these stacks, the Company now expects that full year output and revenue is likely to be towards the bottom of the current guidance range. The timing of this revenue will be weighted towards the final quarter of the current financial year, and will be dependent on success of the current work to resolve these issues. The previously announced range is 48MW-65MW of delivered product and revenue of GBP23m-GBP28m.

These production issues have resulted in limited deliveries of new, first of kind product which in turn has meant only limited field data for performance to assess the level of warranty provisions. As a consequence of the limited field data, the warranty provision for these next generation contracted products will need to materially increase from the current level of GBP3m at FY22 year end and may result in a revision to EBITDA loss guidance. The accuracy of the product warranty provision will improve as more field data is acquired. This is evolving technology and by its nature that creates inherent uncertainty applicable to any company introducing new technology into a rapidly developing industry.

The Board is aware of the potential risk associated with the growing and uncertain levels of warranty provisions and is seeking to mitigate this portfolio risk. As a result, the Company expects there may be delays in finalising contracts in the final stages of negotiation which could place large scale projects at risk of deferred financial close. The Company remains fully committed to the successful delivery of the order backlog and is working closely with customers to get projects finalised.

Wolferlaf,

I thought she said that the division would approve the UIC permits, and asked the board to grant them authority to do that as part of their approval of the project. That makes the UIC sign offs a default action now that the board has approved the project (after just hearing all of the technical details covered by the UIC's).

Did anyone else hear it that way, or different?

The chart doesn't suggest news, it indicates market sentiment for a stock. Sure if a load of people 'think' news is coming soon, then the chart would possibly be bullish, but it could also be bullish for many other reasons, so you can't look at any chart and say it points to news, as you don't know what is actually behind the bullishness.

Wolferlaf,

All they need to do now is get a well drilled ASAP so they can produce that much fuel in step with the timing QFI and MSC have planned.

That will then be the 3rd iteration of our fuel. MSAR, BioMSAR, and this one will be a low Sulphur BioMSAR.

With the approval tonight and the earlier mention of 25% of Tomco meaning funding must be a done deal, QFI shareholders must now see UTAH as the third project moving ahead into trials, and also potentially supplying part of the MSC fuel.

gr1bbler,

The other approvals, she said she wanted the board to say the division could approve as part of their decision to approve the project. So those will now automatically be approved by the division.

The report was to provide information from drilling the wells, so nothing needed before drilling starts.

NO OBJECTIONS!!
APPROVED!!