Member Info for haggismchaggis1

Buys moved up to 18.75p, up 3.6%, it's alive!

Ok, so it is indeed a Wartsila engine.

https://www.wartsila.com/media/news/15-07-2015-wartsila-joint-venture-wingd-to-deliver-wartsila-x92-engine-to-new-mega-class-container-vessel

Posted 3 days ago:

Senior Chemical Engineer / Project Manager

This role is with Quadrise, the global leader in emulsion fuels. It is an exciting time for the company, as we progress projects with market-leading clients in the refining, marine and power generation sectors.

We are currently seeking to recruit a highly motivated candidate with strong project-management skills and a chemical engineering background to join our team.

https://www.totaljobs.com/job/senior-engineer-project-manager/ortolan-group-plc-job98931603

MSC’s Second Eco-Friendly 24,116 TEU Ship Undocked

The vessel, often referred to as the world’s largest container vessel until now, was reportedly seen undocked on 1 August at the Changxing Shipbuilding Base.

Known for representing a new record for Hudong-Zhonghua, the container ship, the MSC Tessa, exceeds the 24,000 TEU class ship Ever Alot, which was recently delivered by 112 TEUs.

It’ll have energy-conserving ducts, hybrid and scrubbed desulfurization unit, a relatively small bulbous bow, and large propellers. Simultaneously, the vessel uses a bubble drag reduction system that lowers energy consumption and carbon emissions by 3%–4%.

https://www.marineinsight.com/shipping-news/mscs-second-eco-friendly-24116-teu-ship-undocked/


The engine, is the design licenced from Wartsila or MAN?

The X92-B engine is equipped with the latest state-of-the-art development of common rail technology, which results in lower fuel consumption across the entire operating range, especially at low and part loads.

https://www.wingd.com/en/engines/engine-types/diesel/x92-b/

Seems like a good fit for MSAR or BioMSAR!!

Still only valued at a paltry £55m. Way below what it should be when you compare to other small cap O&G companies, and what they have ahead Vs what AEX has ahead.

Just realized I got that last bit muddled up LOL! Let's try again!

No genuine AEX shareholder, that understands the current situation with the company and with the Ruvuma development, would find it possible to be negative.

Trying to spin some by any chance??

Any negativity on here is fake, its the usual day trader fiction aimed at trying to erode the share price so their trading pays off.

No genuine AEX shareholder, that understands the current situation with the company and with the Ruvuma development, would find it impossible to be negative.

Yeah, Market Cap is still a totally ridiculous £30m! Should be way higher based on where it's business is heading.

History lesson for the day:

2p

:?-?D

Not sure what the filtered one's are saying, but...

"People with dyslexia may say a wrong word that sounds similar to the right one (like extinct instead of distinct). Or they may talk around it using vague words like thing or stuff. This kind of mental hiccup can happen when they're writing too. Trouble finding the right word is one of the most common signs of dyslexia."

CP,

I'd have thought Spud for CH-1b would depend on the result of:

1) CH-1a (Gas? Oil? How much? Flow rate?)
2) 3D Seismic survey (they might find a target that's even bigger on the licence, that takes priority over CH-1b)

So, I suspect no word on the second well until the results of CH-1a are announced, hence why it's not been mentioned at all in the Ruvuma RNS recently.

Based on the weather window and drill time for CH-1a, it looks to me that 'any' second well on the licence would need to wait until after the heavy rainy season, as there's not enough time to drill 2 wells in this window, so putting it into June 2023.

"There are two rainy seasons—the heaviest rains (called masika) usually fall from mid-March to May, and a shorter period of rain (called vuli) occurs from November to mid-January. The dry season, with cooler temperatures, lasts from May to October."

Blackwash,

Thanks! Exactly my point!

A couple of major projects I am involved in for my employer (FTSE listed bank) require procurement of network devices from CISCO. We were recently quoted long lead times that will impact the project significantly (way more than QFI's little slippage), not just with the schedule, it will also cost us a lot of money by not being able to make the changes we need to make at this time.

Check out the lead times in this article. It's getting better but still crazy long waits.
https://www.networkworld.com/article/3650469/cisco-faces-a-14b-backlog-thanks-to-component-scarcity.html

Would the rig count include a rig shipped to Tanzania and stored at the harbour?

Would ARA tell Baker Hughes where there rig is, prior to advising AEX so that AEX can release an RNS to advise us?

Based on ARA repeatedly saying they were doing things like moving the rig to Tanzania ahead of drilling, my guess is the rig is already in Tanzania at the docks, waiting for the CH-1a location to be confirmed to be on the existing well pad, and then it gets moved to site.

Nov. 23, 2020
"APT will start contracting and procurement of services for Chikumbi-1 well (CH-1) and will secure long lead items (LLIs) including the well head and rig. The joint venture will look at early mobilization of the rig to Tanzania to mitigate against one of the key uncertainties on the timeline to spud."

1 August 2022
"APT continues to advance the planning and preparation of the final programme for the CH-1 well and reports that the target spud date for the CH-1 well remains on schedule."

The first revenues are expected to come from Morocco, so I like that we have lots of potential clients lined up for fuel supplies in MENA region. That line of clients would be quickly revealed once Morocco goes commercial, boosting the share price and allowing QFI easy access to ii funding if needed around mid-2023 at a much higher price than today (not that they need cash today, with a years' worth of cash in the bank).

My chosen points from the Q&A.

Morocco
"we have good contacts with other fuel oil consumers in the region once the supply project is underway."
"Our equipment is on site, the fuel is on its way to Morocco and the trial is scheduled to commence soon."

Marine
"Other shipping companies are also expressing an interest"
"there are a number of shipowners in various sectors that we are in dialogue with"
"We are working with existing suppliers of bunker and biofuel to MSC who have the licenses and the credit lines to progress to commercial supply once the operational trial progresses positively."

Aquafuel testing results
"During Q4'22"

Company
"we see a clear path to commercial revenues in 2023 which will be transformative for the company"
"we have sufficient cash to take us to end Q4,23"

For those that have not seen them yet, the video and Q&A from 4th Oct 2022 are still available on the link below. The site is free and very easy to register.

https://www.investormeetcompany.com/investor/meeting/final-results-42

I don't see how the production of fuel was a f*** up of any kind, especially from QFI's perspective.

Q38: "We have 2 full-sized MMUs, how did we end up delaying the Morocco project by a whole quarter because of an inability to manufacture MSAR? Not a good look re: project and risk management."
A38: "The 2 full-size MMUs are not ideal to supply smaller batches of 10-60 tons product. Our new smaller unit of 5tph needed to be commissioned and was ideal for trial production. The delays experienced to Morocco MSAR supply were regrettably down to both delayed deliveries of equipment components for this unit and then unforeseen manpower limitations at our supplier during the Summer. Lessons have been learned by the project team to ensure this doesn't happen again."

So, let's analyse that one piece at a time:

The 5tph was delayed due to issues outside of QFI's control:

1) Component delays can be an issue with anything these days. Component suppliers will promise dates with the best of intentions to deliver, and then miss those dates due to issues that have arisen in the meantime with their own suppliers. Semiconductor supplies are still an issue, sometimes there will be a batch released which fills some outstanding orders, and then supplies will go quiet again until the next batch is released, it's really hit and miss. These days, getting components delivered on schedule is a bit of a luxury.

2) Manpower limitations at our supplier. They could have had a covid outbreak, or any number of other issues, but it's nobody's fault, you can't blame the supplier or QFI for a staff shortage at the supplier, especially when you have no idea what caused it.

Some claimed QFI should have used the other MMU's to make the fuel.

"The 2 full-size MMUs are not ideal to supply smaller batches of 10-60 tons product. Our new smaller unit of 5tph needed to be commissioned and was ideal for trial production."

Clearly QFI made a management decision to stick with the 5tph based on the equipment capability. This is not a f*** up, it is an intelligent and well thought out choice based on the options available:

1) Use an MMU that was not suitable for the job
2) Wait for the 5tpd and do the job properly

I see CH-1a in this weather window and CH-1b in the next weather window around June 2023.

Keltbray secures Net Zero Trailblazer of the year Award at the 2022 CN Specialist Awards

Michael Pelken, Innovation Director at Keltbray, commented: “To win the CN Specialist Net Zero Trailblazer of The Year Award is very meaningful to us for many reasons, one being that we are working hard across the business in interdisciplinary, cross sector teams to meet these challenging sustainability targets. With our HIPER Pile developments, we are aiming to go even further, to achieve carbon negative results over the whole life cycle by creating new opportunities for the adaptive reuse of structural components, and through the integration of renewable energy systems on both building and district levels.”

https://www.keltbray.com/2022/10/04/keltbray-secures-net-zero-trailblazer-of-the-year-award-at-the-2022-cn-specialist-awards/