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An excellent read with a cup of tea and some toasted crumpets.

Just been through it: an awesome presentation and it doesn't include the new deal.

It says clearly that they are producing at AR. It also states that they are testing oil tailings ponds remediation in Canada. So presumably doing the thing they did with QEM.

The big issue for is, at what point do they start selling?

$3 mil would give them a lot fire power for what they want to do.

I will post some information tomorrow that will help.

Ors when people work it out they will see that PQE have walked on water.

You mean the plant at AR?

Look at the QEM RNS from before Xmas.

I expect this is the start of the news flow. We know plant works, it is just about optimization.

This is the first of multiple deals. What is the global figure 300 billion barrels?

Something for the weekend Sir?

I think the word is boom!

https://www.oilsandsmagazine.com/news/2018/2/25/us-oil-sands-receivership-asset-sales

http://www.bloomberg.com/news/.html

Very much looking forward to PQE's updated RNS later. Hopefully it will be in English with some actual useful information in it.

It could be that PQE is about to become very material to Mayan.

DYOR

100%

What matters is that Thom Board and Attis getting on site at Montsanko and Morris 1; getting them producing at a decent rate then the Austin Chalk wells. In my view the company should be able to get past break-even with those five wells but until it is actually done we don't know.

DYOR

My point was, why hasn't PQE put that in the public domain? PQE has said nothing. It was QEM that put it in the public domain before Christmas. PQE should be putting stuff out in a timely and accurate manner.

That QEM deal is highly material and yet radio silence from PQE but QEM thinks it has to RNS it. 90% of investors will know nothing about the QEM link up.

DYOR

Ok seeing as I am on one about missed value.

ADL and Bunga Mas..

ADL extended the date for completing this deal to 15/02; so they have a week. ADL basically said that they wouldn't have extended the date unless they thought it was going to happen. Mayan has the right to take 12.5% of any Indonesia deal that ADL does at cost. So that is about $177k and $250k soft costs times 12.5% so about $53.38k.

The Bunga Mas CPR is in the public domain. This is it..... https://guerillainvesting.co.uk/site/wp-content/uploads/2018/06/Arctic_Bay_Ventures_BMIC_CPR_August_2014_Final.pdf

The deal is to fund a workover and then a new drill. The cashflow will then fund exploiting all the gas targets that are there. Bunga Mas is a huge asset.

ADL have a decision coming up about Bunga Mas. Either it gets assigned over to them or not. If not, do they extend the time frame again or go for another asset? ADL have reviewed every available asset in Indonesia.

Mayan has the right on an unpromoted basis to take 12.5%.

Try reading the Bunga Mas CPR and work out what that is really worth once they get going. I am pretty sure that ADL (and Mayan if it participates) will farm it down once the asset is assigned.

DYOR

This is how big a deal it is

http://aigjournal.aig.org.au/julia-creek-vanadium-and-oil-shale-deposit/ "contains 3bn barrels of oil"

How the Donald is that not worthy of an RNS or a bit an announcement?

Using the AR metrics $30 opex gives say $20 margin x 3bn barrels = $60bn. QEM need to use Petroteq so that they can get at the Vanadium cost effectively.

Try doing a NPV 10 on that number and oh BTW it is just a bit of deal on the side...

QEM have had the technology tested on the oil shale under laboratory conditions and it works.

So when is that deal going to get papered up and BTW little ole Mayan has 1m shares and 1mil warrants.

DYOR

What it doesn't say is that Vanadium in shale is quite a common thing. Using the PQE technology makes the recovery of Vanadium and other metals from oil shales possible. If QEM want it then so will other companies targeting Vanadium in oil shares.

It only applies to shales at or near the surface obviously.

DYOR

Regardless on that last PR they need to clarify who the seller is, what the asset is and what they intend to do with it. For $6mil it must be a fairly juicy asset.

They need to get their house in order. Some stuff they put out is pointless and then they don't comment on stuff that is material like the potential QEM JV.

DYOR

Well if the rumours are true it will be very interesting.

Fingers crossed, they are about to deliver big time.