Member Info for Hotfinance14

For refernce I recall a new MMU costs $500k. Or was it pounds.

I am under the assumption the mini MMU is goung to OCP for the trial (Is it 20 tonnes per day?) and the 2 normal size MMU's are going to Utah and Mac2.

From the interim results :

Decarbonisation of shipping: MSC

· In February 2024, Quadrise signed a Collaboration Agreement with Cargill and MAC2 in respect of the production of MSAR® and bioMSAR™ fuels for the Company's forthcoming vessel trials on board the MSC Leandra.

· Once further binding trial agreements between Quadrise, MSC and Cargill have been executed, Quadrise expects to install and commission an MSAR® Manufacturing Unit ("MMU") and associated equipment at the MAC2 terminal in Antwerp, Belgium in Q2 2024 in readiness for bunker fuel supply upon the receipt of permits by MAC2.

· The operational trial is expected to commence mid-2024. It will comprise an initial 1-2 month Proof of Concept ("POC") period using MSAR® and then bioMSAR™ for performance baseline tests, followed by 4,000 hours of operation (approximately 6-8 months) on bioMSAR™ in order to obtain a Letter of No Objection ("LONO") from the engine manufacturer, Wärtsilä.

So the original plan was to have the equipment including the MMU installed in Q224 and the actual trial to start in Mid 2024 so the time gap between installation of equipment and starting the trial appears to be very short.

'Hmm seems to me they are interested, the contract will come when all the parties are sorted out. Signing a LOI like above seems to me like they want to buy our fuel.'

But they haver not CONFIRMED they want to buy our fuel which is the key difference.

"OCP, who we have completed extensive trials with and who have confirmed they want to buy our fuel."

Techyboy...you are wrong as OCP have only completed a weeks trial and not extensive trials and they have not confirmed they want to buy our fuel as there is no contract.

'All great if/when it happens although it would appear they don't yet have enough "bitumen" out of the ground to send us a sample yet?'

We hav ebeen told Valkor are preparing samples to be sent to QRF.

I recall SC stating he was not bothered about the daily movements in the SP. Maybe they were days when the SP went down!!!

I very much doubt it.Clutching at straws.

'As well as unveiling its interims today, Maersk outlined its newbuild policy through to 2030, with two notable news items. First, its intention not to increase its fleet size above today’s 4.3m teu through to the end of the decade, and secondly, Maersk’s admission that it will proceed with orders for dual fuel ships which can use bio-LNG, a fuel type the carrier had previously dismissed. '

Full article :

https://splash247.com/maersk-fleet-plans-show-huge-divergence-with-rival-msc/

I know some QED holders in the USA and Canada .It is rather cumvbersome to purchase the shares but not a major issue.

'’m guessing that once Lafayette get their IPO off and Their regulatory news items start to flow. There should be lots to report now. Drill core reports'

Is there a date for the Lafayette IPO ?

Tobydog...You could ask JM at the next IMC so he can reassue you of the position with Maersk.

I recall JM stating on an IMC something along the lines that as Maersk had not fulfilled there part of the LONO agreement they had no rights to any future royalities etc. Another poster may have more details.

No 1.Maersk will not be an issue IMHO.

'Can they get this done EXPEDITIOUSLY in time for the return of the Leandra to Antwerp on 15 August?'

There is more chance of Gordon Ramsey winniing the 400m hurdles at the olympics.

They expect to produce 100 barrels this month.

Willswag...Was it not $2m for the pilot well drills :

https://www.globenewswire.com/en/news-release/2024/01/05/2804524/0/en/Trio-Petroleum-Corp-Announces-an-Option-to-Acquire-a-20-Interest-in-the-Asphalt-Ridge-Development-Project-in-Utah.html

Overall a very positive interview but again it is all about getting things done eg Morocco trial this qtr and the MSC Fuel agreement signed and trial starting.

'Hotfinance 14 - Go to 3:36:12 in the 31st July 2024 Hearing - "but we hope to produce 100 barrels crude, which we hope to do in the next. within the next month, that gets us our next tranche of money..."

Excellent news.

From the information given at the DOGM meeting do we know roughly when they would expect to reach 100 barrels of production ?

We were told the Morocco trial is expected to be completed in Q3. The trial will therefore start in the next 4weeks if it has not already started if it has gone to plan.