Member Info for Hotfinance14

Last week a Tomco poster asked SB how the wells were progressing and this is the reply he got :

'We were intending to use electric downhole heaters to open up the formation before steaming for a few months. But we have found that the heaters have been effective enough that we expect peak production just from the heaters to be 40 bopd or higher. So we are expecting to run the heaters for up to 2.5 years, assuming it can continue this kind of production. A lot cheaper per bbl.'

SC..the chap that thinks the MSC fuel agreement is still with lawyers since last Xmas. You really think we are all traders and have been shareholders for over 10 years. Utter nonsence.

I agree 46G. I recall at the last AGM they had no slide about finance and did not mention funding at all until you raised the issue. I am glad you did as nobody else at the AGM had the balls to ask.Well done ol boy.

46G..It will be interesting what they say about funding at the AGM as they run out of cash in March 2025 (only 6 months away) and even if they get the Valkor payments this will only extemd the cashflow for a few months.

If that was the case Vince why did JM expect the MSC fuel agreement to be completed last December ?

Vince I am sure MSC have a different agenda to what JM thinks it is. It doesn't take now nearly 10 minths to conclude a trial agreement.

Totally agree Vince. As i say i think JM is a wait to happen CEO where SB is a make things happen CEO.

If they all come in Vince at QED standards it will be a miracle.

I recall JM stated they expected the below to be completed in the summer :

1. Start of the Morocco trial

2. Asia refinery trial agreement

2. MSC fuel agreement

Summer technically ends on 22nd September so i expect we will have bob hope and no hope,

But wasn't we told at the last AGM it would be announced in December and there would be a re-rating of the SP.. In 2 months time we have the next AGM and you guys are not frustrated by the constant delays. You say it will happen when it happens.Have you not thought it might not ever happen!!!!

As for you bufoons thinking us long term holders are traders well keep passing those KP nuts around.

'he action is in Utah now Wince, try and keep up. Or do you genuinely prefer to research what other shipping companies are doing while wearing your hair shirt?'

So should we forget about the MSC trial now Fonz ?

'Cargill and MAC2 have signed'

Yes they have but don't you think they need a ship ? Absolutely no help with some posters.

45G..Is the new yacht going to use a rolls royce engine!!!

After 3 hours you finally understand.Good lord.

Fonz...you seem to be so thick you just don't get it. You originally said when we hit ther production target we get the $1.5.m. We actually get $1m. You never mentioned the MMU. When the MMU is delivered at a later time we get the $0.5m.

You even sucked in your follower SJS.

'It's not a separate deal, it's the same deal, $1m up front, then $0.5m when the MMU is delivered, followed by quartely $75k payments. It's one deal . '

You have corrected yourself Fonz. Previously you stated we get paid $1.5m once the production target is hit but now your stating we get $1m THEN the $0.5m when the mmu is delivered. I have put $5 in the juke box so you can celebrate with your requests.

The Fonz is back on the ale it seems. He stated :

'Just for balance to the doomsters posts, once Valkor hit their production target and get their funding released, we'll have $1.5m hitting our coffers'

Once they hit the production target and funding they get $1m and not $1.5m. They only get the additinal $0.5m on delivery of an MMU which is a seperate part of the deal.

'Just for balance to the doomsters posts, once Valkor hit their production target and get their funding released, we'll have $1.5m hitting our coffers'

As 46G stated that is totally incorrect.

Yes they have hired a new project manager.(I think that is his role)

From the open offer statement :

'The net proceeds of the Placing and Subscription are expected to provide Quadrise with the necessary working capital resources to 31 March 2025, by which time projects in Morocco and Utah are expected to be generating commercial revenues, and the trial with MSC will be near completion, should active project milestones be delivered on currently anticipated timelines.'

Wonga...I think they run out of cash in March 2025 so not long to go.